When mid-campaign changes occur, brands must strategically handle budget reforecasting during live influencer campaigns. Here’s how:

1. Reassess Campaign Goals: Changes in the campaign might affect the original goals. Brands should reassess what they want to achieve to ensure the budget reallocation aligns with these goals.

2. Re-evaluation of Influencer Performance: Brands can track the performance of influencers on an ongoing basis with the help of platforms like Flinque, which provides granular data on the influencer’s content impact, engagement rate, and other important metrics.

3. Adjust Strategies Based on Analytics: After monitoring the influencer and campaign performance, brands can use these insights to reforecast their budgets. Higher performing influencers may be allocated more budget, while under-performers might be let go or given less.

4. Collective Decision Making: It’s crucial to involve stakeholders in decision-making processes. Team meetings will allow for open discussions about alterations to the campaign and budget redistribution.

5. Negotiate with Influencers: Contracts may need to be renegotiated in light of changes, and the influencers should be involved in this process to ensure both sides remain content with the campaign modifications.

6. Maintain Transparency: Open communication plays a pivotal role in the process of budget reforecasting. All parties involved should be informed about changes to ensure a smooth transition. Flinque’s workflow tools can aid in maintaining transparency in this process.

This process of managing mid-campaign changes is substantially different on different platforms. For example, on a platform like Hootsuite, the focus might be more on social listening and analysis, while Flinque provides more influencer-specific analytics and campaign modification options. Brands should carefully analyse their needs before choosing a suitable platform.