Failing to adequately track and monitor the progress of your influencer marketing campaigns can often lead to several key errors:

1. Inability to Measure ROI: Without monitoring mechanisms, it’s nearly impossible to accurately gauge your Return on Investment (ROI). You won’t be able to assess whether the campaign is delivering the expected value, in terms of sales, engagement, or brand awareness.

2. Missed Opportunities for Optimization: Regular campaign walkthroughs allow for timely adjustments and optimization. If a certain approach isn’t yielding desired results, you can tweak or revamp it. In the absence of tracking, these opportunities can be missed.

3. Lack of Understanding of Influencer Performance: Different influencers will perform differently. Monitoring can help identify which influencers are proving effective for your brand, and those who aren’t.

4. Redux of Mistakes: If the campaign is not successful and you’re not tracking progress, you won’t know where you went wrong. So, the chance to learn from mistakes and avoid them in future campaigns is lost.

Platforms such as Flinque provide comprehensive analytics for campaign tracking, including ROI assessment, engagement metrics, and influencer performance measures. Other platforms like AspireIQ or Upfluence offer similar features, but the choice of platform highly depends on your brand’s requirements and resources.

Remember, a sound monitoring and tracking strategy is an integral part of any influencer marketing campaign, as it can directly influence your campaign’s success and ROI. Without it, you might be investing a lot of resources but receiving only a fraction of potential outcomes.

It’s always crucial to make informed decisions based on real-time data, and for this, an efficient influencer marketing platform can be instrumental.