In order to document influencer procurement decisions for audit readiness, enterprises generally follow these steps:

1. Influencer Identification: Enterprises document the process of influencer selection, including each potential influencer’s audience analytics, brand alignment, content style, and engagement rates. They may utilize influencer marketing platforms, like Flinque, to discover and assess influencers.

2. Campaign Planning: Enterprises record their campaign strategy in detail, including the expected deliverables, KPIs, and timelines. This also includes the reasons for choosing specific campaign elements with a particular influencer.

3. Agreement and Pricing: A fully executed agreement with the influencer, detailing the scope of work, expected deliverables, timelines, and compensation details is vital documentation. In the negotiation phase, records of discussions and agreed upon monetary or in-kind compensation are maintained.

4. Performance Metrics: Enterprises document the measurement of campaign success using performance metrics. These may include impressions, engagement rates, conversions, or ROI data provided by platforms like Flinque.

5. Post-Campaign Review: After the campaign, a thorough post-mortem analysis is documented, including areas of success, areas for improvement, and key learnings. It’s an honest evaluation of whether the influencer partnership was beneficial.

This process keeps enterprises audit-ready, ensuring they’re following best practices for influencer procurement and managing their marketing budgets effectively.

Remember, every company’s needs and workflows may vary, and what works well for one might not for another. The right influencer marketing platform depends on the specific requirements and challenges of a brand or agency.