Once the media plan is established, it’s time for media buyers to pull up their contact list and connect with media representatives to negotiate the best possible rates. And that can be tricky business: It requires steel nerves and a devilishly strategic approach.

If you want to learn about how to negotiate media, check out the key insights we’ve provided below.

Don’t rely on the rate card.

Everything is negotiable. When it comes to media buying and negotiation, always start with the rate card as a conversation starter. Like a master haggler in Marrakech, you should go into the negotiations with a good understanding of the market’s going rates, plus some leverage.

Obviously, price is not the only factor to negotiate. You also must consider such issues as timing, value-adds, commitment, and other elements that can lead to a good bargain. Let’s see what else you need to know.

Negotiate your research

Most media outlets conduct regular research campaigns to find out what their audiences want.They also collect a lot of information about their followers, which can be useful in today's market.If you’re thinking about using a particular media channel to reach your target audience, negotiating access to insights or coverage from this research campaign could be tremendously beneficial to your future media plans and ad campaigns.

Consider the timing and position of your ads.

When it comes to media placement, you can use your knowledge of the audience to your advantage. Certain positions and time slots are much more effective than others, so research media consumption behaviors and habits to be able to decipher the good from the bad. If the sales rep won’t budge on price, press them on a better placement for your advertisement.

Speak volume

Negotiating a bulk price on ads is something salespeople have done for ages. But you can try it, too. If you plan to place multiple ads with a selected media outlet, ask them for a bulk price and potentially lower your total ad spend. From the media’s perspective, locking in a long-term deal is the safest way to build predictable revenue and reach or even surpass their yearly targets. Knowing this gives you the leverage to ask them to reciprocate in the form of lower prices. It’s a win-win for both parties!

Consider advertising options that are more flexible

When it comes to advertising, both parties want to build a long-term relationship. In order to do so, they might have to set aside aggressive negotiation tactics and look for more creative solutions. One of the best ways to get value for your money is to explore “floating dates’’ and “floating ad space” options (read more below). If you’re flexible on your dates but set on the ad position, ask for a floating date offer – meaning, your ad will appear in the selected position but on a date that's suitable for the media. Allowing for flexibility provides you more options and helps both sides fulfill their objectives.

Take advantage of off-peak advertising rates

It's important to consider that the ad industry is incredibly seasonal. Choosing less busy months could give you an edge in negotiating better rates and getting more eyeballs on your ad, thanks to fewer ads all around. Budget optimisation in media buying involves balancing smart planning with diligent negotiations – sometimes it pays off to act differently from everyone else.

Measure ROI and negotiate on ad impact

Data can be a powerful tool in your arsenal of negotiation tactics and strategies. While it's easy to spend too much on a media placement once, those who track media performance can react and correct their missteps quickly. Armed with data insights and measurable ROI, data-driven media buyers have an easier time renegotiating their rates and value-adds. Better still, tracking ad performance allows media buyers to spot and seize advertising opportunities that would otherwise be dismissed as too risky or unproven.

Sounds difficult? Not with our platform. With Cubik's campaign tracking tool, you can access all your marketing data in one place and have total control over budgets, placements, and campaign activity.

If you’re not keeping up with the latest trends, then you’re missing out on a lot of opportunities. Request a demo now to see how we can help!