Negotiating with Out of home (OOH) advertising firms can be a vital skill in securing the best deal for your campaigns, whether it’s for billboards, transit ads, or digital out of home (DOOH) displays. With the right approach, you can increase your advertising spend while achieving the exposure you need. Find here some key strategies for negotiating effectively with out of home advertising companies.
Do your research:
Before entering any negotiation, gather information about the OOH market, the firm you’re negotiating with and typical pricing for the type of ad space you want. Understanding the competitive land will give you a solid foundation for bargaining. Research the specific locations, traffic data, and audience demographics to ensure you’re targeting the most relevant and effective areas for your campaign. Knowledge of industry trends, such as seasonality or high-demand times, will also help you make informed decisions.
Utilize volume and long-term contracts:
OOH advertising firms often provide discounts for bulk bookings or long-term contracts. If you’re planning a large-scale campaign or multiple placements across different locations, use this to your advantage. Firms may be more willing to lower prices or offer value-added services if you commit to a larger volume or a longer duration.
Be flexible with locations and timing:
Flexibility can be a valuable bargaining tool. If you’re open to considering alternative locations or off-peak times, you may be able to negotiate a better rate. Some high-traffic locations might be in high demand during certain times of the year, driving up prices. By opting for less busy periods or secondary locations, you can often find better deals without sacrificing much visibility.
Negotiate added value, not just price:
Instead of focusing solely on lowering the price, consider negotiating for additional benefits, such as extended display time, bonus ad placements, or improved creative services. Some firms might not be able to cut prices due to strict pricing policies, but they may be willing to provide added value. For example, negotiating for extra time on digital billboards or additional ad spots in less popular areas can improve your campaign without increasing costs.
Understand the metrics:
OOH advertising success is measured by factors like foot traffic, impressions, and visibility. Ensure that the OOH firm provides clear data on these metrics. You can negotiate better terms if you have a strong understanding of how the ad will perform and the audience it will reach. Ask for proof of performance, and ensure the metrics align with your campaign goals.