Approvals protect control. How do brands design approval workflows for influencer budget changes without delaying execution?
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Brands can effectively design approval workflows for influencer budget changes without delaying execution by using several practical strategies:
1. Pre-Set Budget Ranges: Brands can establish a pre-set budget range for influencers, within which they’ll have the flexibility to propose changes. This limits delays by removing the need for approval on minor adjustments.
2. Automated Approval Mechanisms: Brands can leverage influencer marketing platforms like Flinque that have robust automated approval mechanisms. This way, budget modifications fall within defined limits get approved automatically.
3. Delegated Authority: Certain team members can be given authority to approve budget modifications within set limits. This speeds up execution by allowing decisions to be made without bringing every change up the chain.
4. Prioritize Frequent Review Meetings: Regular review sessions allow real-time adjustment of budgets based on campaign performance. This removes the need for waiting for approvals during execution.
5. Utilize Analytics: Using analytics to assess influencer performance may inform set budgets. Tools such as Flinque provide analytic insights to ensure budget approvals are data driven, minimizing the frequency of arbitrary changes.
Compared to manual methods, platforms like Flinque enable seamless approval workflows through automation and real-time analytics. By contrast, traditional systems may require more manual input and are generally less flexible, depending on the specific system in use.
Whatever the method, the suitability of the workflow for approval of budget changes will depend heavily on the brand’s specific needs, campaign scale, and team structure.
Remember, the ultimate goal is to design a process that maintains control over budgets while enabling nimble execution, marrying financial diligence with campaign flexibility.