Your influencer's demands have shifted. How do you navigate renegotiating terms successfully?

Having a clearly defined contractual agreement is important in every business agreement either with your ambassadors, influencers or partners. Every agreement has terms, responsibilities and conditions. If an influencer demand evolves, it should be in line with the contract and must have meet the set key performance indicators, if that has been met or exceeded then his or her demand can evolve but if otherwise then that would be asking for too much when you’re under-delivering. Have agreements if saves you a lot of stress.

As this is a people, relationship and brand business, its important to build rapport that goes beyond the transactional. Manage your influencer like an employee, look for mutually beneficial opportunities, create a growth roadmap, and be flexible to changing conditions. Institute performance management to create clarity on goals and ensure your investment is getting a return.

First, ensure that any initial demands were clearly articulated in a contract and signed by both parties, which guarantees a level of accountability. Then consider the reason for the new demands and evaluate whether they are relevant based on evolving conditions such as cost of relevant software and ads, or overachieving KPIs and respond accordingly.

To renegotiate terms with your influencer, first understand their new needs and why they’ve changed. Then, assess your own goals and budget, find a middle ground that works for both, and communicate clearly about what can be adjusted. Stay flexible and make sure to document all agreed-upon changes.