Social media advertising fraud has become a growing problem not only in Australia but all over the world. There are hundreds of ways for scammers to trick advertisers into paying for non-existent audiences, and social media ad fraud is just the tip of the iceberg. Although the Australian Competition and Consumer Commission (ACCC) is starting to crack down on the issue, there are still many ways for malicious bodies to take advantage and create disturbances whenever possible. With that being said, the growing social media ad fraud incidents in Australia give rise to new issues that companies need to deal with:
The Slow Decline Of Consumer Trust In Social Media:
The social media industry is losing its lustre, especially among the youngest generation. Consumers are becoming more concerned about the lack of privacy and decreased ad quality on many of these platforms. Social media platforms have been repeatedly criticised for failing to protect user data or prevent abuse by foreign actors. Multiple reports indicate that millions of users’ personal information were improperly in violation of many of the platform’s policies—and unknown even to many users who had nothing to do with any of these issues.
These issues threaten consumers’ trust in social media companies and their ability to protect their data—and they may also impact how much people trust advertisements on those sites.
Advertisers Are Decreasing Spending On Social Media
The increase in social media ad fraud incidents across various websites and platforms also reduces the advertiser’s faith in these platforms, thereby cutting down their spending. Australia has some of the highest ad fraud rates compared to the rest of the world, an alarming fact considering that the country has a strong e-commerce sector and rising digital marketing opportunities. Consequently, there will be a general resistance among Australian marketers to use such digital channels for brand building, business growth or other revenue-building purposes.
Ad Fraud Is A Growing Problem
It is the practice of tricking advertisers into paying for non-existent audiences, and it’s increasing in Australia because more people are using social media. Ad fraudsters can use botnets to generate fake activity or purchase traffic from sites with existing user bases that aren’t legitimate. Many ad fraudsters also create bogus pages that look like real news outlets, which they then use to sell ads on Facebook or Google AdSense.
Social media advertisement fraud is growing in Australia because people are increasingly distrusting it as a marketing platform and because there are so many ways to trick advertisers into wasting their money on non-existent audiences. Many people don’t trust the platforms themselves or the ads they see on them.
People also don’t trust Google Ads or Facebook Ads because they feel like they are being used as pawns in some kind of money-making scheme run by large corporations who care more about profits than honest advertising practices. They don’t feel like their interests come first when these companies advertise new products or services – instead, it seems like these marketers want to use whatever tactics necessary to make more money. This includes having bots impersonate real people online so companies can sell more products (and make more profit). Social media advertisement fraud is rising in Australia because of consumer mistrust and a lack of transparency. This has led to an increase in fraudulent activity that is hurting businesses and marketers alike by wasting money on fake followers, likes and clicks.