• It's a good question. One, if your campaigns haven't already been delayed, you should probably expect that to happen increasingly. As we said in the last episode, I believe we've had 58% of influencers who've seen their sponsored posts delayed, 18% have seen them canceled. It leaves a pretty small percentage of campaigns that haven't been affected. I don't want to talk so much about that but the second part of the question is, how should we handle payments, is really interesting.

    We had a few very large multinational enormous corporations email us in the last couple weeks and say straight up, we are not making payments right now, we're not paying anyone. I told you guys in the last episode that you should be expecting a 40% decrease in your revenue this year. Whatever you made last year, take 40% off that, 40% to 50%. Assume that's what you'll make this year. For a lot of people, that's a scary number but I think that is something that you need to come to terms with right away. Something else to consider, I know we're doing this at Fohr, is that we are planning, we're hoping this doesn't happen, but our worst-case contingency, we're planning for 20% of the stuff that we've already done or booked to not happen.

    As an influencer, I think you have to come to terms with the fact that there are some campaigns that you may not get paid for ever but also you definitely, I think, will take you longer to get paid than usual. Most brands Fohr included, we like to pay on time. I think that is a big part to being a good partner and to doing business well and to building long-term relationships is to pay your invoices on time but these are extraordinary unprecedented times that we've never seen before and a huge percentage of businesses in the world are fighting to survive. When you're fighting to survive, the way you do business changes. The things that you would have never done before you do now.

    One of those things might be not paying you guys for a while. I'm not speaking from Fohr right now but I'm saying for the partners that you have booked campaigns with and maybe completed them and invoiced them, I definitely would expect a delay in payouts. Again, I just can't stress how difficult a time this is right now for brands and they will do anything to survive this crisis. That anything might include making your payment two or three months late.

    I know I've been banging this drum but I'm going to keep banging it like, save your cash, whatever money you have, hold on to it, cut your expenses to the bone as close as you can, scale back on absolutely everything possible to try and make it through the next few months because nothing is certain right now. The bigger your cash reserves, the more likely it is that you're going to be able to make it through this as comfortably as is possible. It's a scary thing but this is a time to scare yourself and to try and overreact and to try and over-index and make sure that you make it through this crisis.
    Episode #193
    - Fohr Free, and other updates