Tips to Lower Your Media Rates in the Downturn -- Good Media Buying & Planning Strategies for Lower Rates.
How to Buy Media in the Downturn.
It is surprising that the Media Outlets are holding so tight to their rates, in the downturn.
One way to significantly lower your rates is to really look at your OPTIONS.
If you feel 'attached' to one Media Outlet in a Market, ask yourself: "What can I buy on a comparable TV station or Newspaper, or Radio station -- that is comparable to the same Reach with the same Results?" Have you really 'Researched' all of your options?
Remember that Any Market is all about Market Reach. How can you Reach the Direct Response Consumer as cost efficiently as possible? Sometimes advertisers get very attached to one TV time period or one particular Newspaper or Radio Station.
The best way to know if you are covering all your options is to pick up the phone and call the other media outlets, in a given market.
State Your Goal Outright: "I am shopping for the best rates. Are you flexible in your rates?"
Find out what they have available, and what the reach is for each Avail. It can be very fun and exciting to find different 'media sources' that are open to giving you lower rates, for the same media coverage - that you are currently paying higher rates for now.
What I always do -- if a price is too high, and the Media Outlet is simply inflexible to lowering the rate...Is simply pass.
I always let the Media Outlet know that I am going to pass, because: from 25 years of Direct Response experience I KNOW that rate is not going to pay out for my client, and quite frankly, I do not want to support rates that are too high.
I always remind them that we are Direct Response Advertisers, and our goal is to profit above and beyond the media expenses. Our strategies are brilliant, but only work when the rate matches THEIR consumer response. I always tell them outright: "Your rates are a Win/Lose for my client. Your Audience Response does not match your Rates."
They never get offended, because they respect my good business decision... to not lose money... for my clients!
Then I buy something comparable, somewhere else. That's just being a good shopper! If more people did that, then the rates that are too high - will come down!
I can always find a Media Outlet that is more receptive. And that fluctuates, depending on a variety of factors, all of which are out of my control. But the factor that is not out of my control: is that I can pick up the phone and shop around.
When it comes to Newspaper media buying... this can be tricky, as many markets only have one dominant Newspaper. When that is the case, and the rates are simply too high, and the paper will not come down.... Then I encourage my clients to go to a different market to accomplish the same reach, with higher returns on the dollars spent on the media buy.
If your product or service you are advertising, is NOT market specific, then I highly encourage you to go to a different market with your budget -- that will give you the rates you need for higher ROI's.
If your product or service IS market specific, then call the media outlets and really dialog different leveraging options. What can you give, and what kind of discounts can you get in return?
Ex: "If I run 2 or 3 times a week, how much can you lower the rates?" "If I run on a Tuesday vs. a Saturday or Sunday, how much can you lower the rates?" "If I buy a 13 week or annual contract, how much can you lower the rates?" Basically: "What can I do to lower my rates?"
The more suggestions you come up with, the more you will stimulate their creative ideas to help you both come up with a Win/Win solution.
Newspapers often have 'sales'. Always ask the newspaper if anything is on sale. And always ask the Newspapers if they offer Remnant Advertising.
If you continue to call the Media Outlet that is too high, (once a quarter) I can guarantee you - that eventually they will come down, to meet your needs - and get you back on their Station or in their Newspaper, at the rates that work for you.
Don't forget to ask them to put you on their Fire Sale list. Or even better, ask them if you can call them once a week (TV: best day is the day PRIOR to their logs closing) to see if they have any Fire Sales. You never know. And I guarantee you, the more you call and ask, the more they will want to give you some great rates. It has to do with the old adage... people really do want to help. And quite frankly: they are flattered you are trying so hard to spend your advertising budget with them and their viewers/readers/listeners.
When they know you are declining, because you know what works and what doesn't work... then they will respect and appreciate that you want to spend your budget with them; understanding, it needs to be a Win/Win for all parties involved. Try it.... and you will see... you will eventually get the rates you need.
What kind of Media Results can I Expect in August?
The largest Infomercial Media Buying Agency in the Industry, says: August is their best month for Return on Investment.
Why? Because the Households and the Hut Levels are the lowest of the entire year (due to vacationing) and the results are: The rates are at their all time lowest, of any month of the year.
While viewer and readership is down... so are the rates. This is the best month for wheeling and dealing fantastically low rates.... Diversifying your budget to test new areas that minimize your testing risks. Really push for those very best time periods at the rate you need! Not a penny higher! Really pitch your Station/Newspaper Rep that this is your opportunity to test certain time periods/placements, which could most probably find you spending more on their station the remainder of the year. BUT.... you need the discounted August rate to TEST! This is your best month of the year to get THE best times at THE lowest Rates!
So overall, August can be a VERY profitable month, if you 'Work It'!
Wishing You Great Success!
Gabriella G Donivan -- President
Sun Coast Media and Marketing, Inc.
[http://www.greatmediabuyer.com]
904-683-2322
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