GotChosen is at the forefront of addressing a critical challenge facing the social media landscape: influencer authenticity. The company’s proprietary software authenticates social media influencers’ followers and the associated metrics for the followers.
GotChosen has emerged as a provider of unparalleled transparency for social media advertising. The company is well positioned to become the most trusted authentication brand for the social media advertising industry.
According to the two reports below, The Social Media Influencer industry is booming. The industry is projected to grow from $16.5 billion in 2022 to a staggering $199.6 billion by 2032. However, this rapid growth is accompanied by significant risks, including the prevalence of fake followers and inflated metrics. These issues erode trust and diminish the return on investment for advertisers.
Report by Allied Market Research
Influencer Marketing Market to Reach $199.6 Billion, Gradually, by 2032 at 28.6% CAGR: Allied Market Research,
Yahoo Finance November 14, 2023
Report by Research and Markets
Global influencer Marketing Platform Analysis Report 2024: Market to Reach 94.21 Billion by 2029 from $17.98 Billion in 2023, Driven by Integration of AI-driven solutions and authentic influencing, Yahoo Finance April 24, 2024
Both of the above marketing analytics reports from the two separate companies included “authentication” as a risk to the Social Media Influencer industry. The problem is applicable for all Social Media participants, including the advertisers, influencers and the social media companies.
Influencers can have fake or inauthentic followers
GotChosen’s, AI powered authentication solution, eliminates the need for a brand or an influencer to engage an agent. Therefore, GotChosen is well positioned to to disrupt the traditional advertising agency industry. The traditional industry has been growing at 5.52% compounded since 2021 and is projected by market research firm Spherical Insights to reach $380.45 billion by 2032.
The company is monitoring the activities of Instagram influencers who have an aggregate of 82 million followers. By November 2024, GotChosen projects that it will be monitoring a total of 400 million Instagram followers.
Without authentication it’s quite possible for each of the social media platforms including Facebook, TikTok, SnapChat and Instagram, etc., to eventually have more users than the entire population of the world. Should this happen, the entire social media industry would eventually collapse under its own weight. It’s because social media advertising would no longer be effective. The chart below depicts the steady growth for revenue generated by influencers as a percentage of all Social Media advertising revenue from 2019 to 2029.
The bar chart below depicts the percentage of fake followers for influencers which had 1,000 to 1,000,000 followers in 2022. 61.23% of the followers of the largest influencers, those with 1,000,000 or more followers, were inauthentic. 45.3% of the followers for the average social media influencer are fake.
The video “GotChosen’s AI Verification Solution” below on the left explains the fake influencer and fraudulent social media advertising metrics problem. The video below right “GotChosen’s AI Verification Output Explained” explains GotChosen’s authentication and verification solution.
GotChosen – Fake Followers of Influencers Exposed!
– Apr 6 2024
GotChosen’s AI Verification Output Explained
– Apr 20 2024
GotChosen became aware of the authenticity issue after it launched its Social Monetization (SOM) social media app and platform in September 2022. The chart below depicts the daily active users for GotChosen’s SOM social media app from January 2023 to May 2024. The app enables content creators/influencers to earn money by creating videos which are then viewed by their followers who have downloaded SOM. The growth of SOM’s daily user traffic is because SOM is the only social media platform that offers an ad revenue share for influencers. A SOM influencer receives 60% of the advertising income that their content generates on the platform.
At July 31, 2024, 35,000 of SOM’s approximately 1,000,000 downloads were influencers. Downloads of the SOM app have and will continue to grow organically. The SOM influencers are also Instagram influencers. In aggregate they have one billion followers.
The company utilized the proprietary analytics for the influencers and followers and their activities on the SOM platform to develop AI driven software. The software authenticates an influencer’s followers and their activities. The software powers GotChosen’s Collab Marketplace (Collab), which was launched in April 2024. Collab enables a social media advertiser to:
- Differentiate genuine followers from the fake followers and fake social media advertising metrics.
- Accurately calculate ROI based on authentic social media interactions.
Collab also enables advertisers to connect directly with authentic influencers instead of having to utilize an agent.
The chart below depicts GotChosen’s revised revenue projections based on its entering into a partnership with ACP in July 2024. See also “ACP Partnership, Biggest Development Throughout GotChosen’s History”, July 24. 2024
GotChosen’s Collab Marketplace is well positioned to become the most trusted authentication brand for the social media advertising industry. Thus, GotChosen is well positioned to reach a valuation of a billion and become a unicorn in the near future. With Collab, GotChosen’s annual revenue has the potential to be in the tens of billions relatively quickly. GotChosen’s model is highly scalable and its addressable market by 2032 will be $580.05 billion based on the following:
- Traditional advertising agency industry revenue to reach $380.45 billion by 2032 according market to research firm Spherical Insights.
- Marketing research firm Allied Market Research’s projection of $199.6 billion for Social Media Influencer industry by 2032.
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