With Preferred Deals, you have the liberty to offer the buyers inventory at a price which has been specifically negotiated and bears in mind the minimum CPM rate. There is no formal agreement in Preferred Deals, so there is no contractual obligation for you to save the inventory for the buyer and if you are being offered a higher price by some other, you can sell it off and there is no obligation on the buyer to purchase the entire inventory.
What is the working of Preferred Deals?
A Proposal is the start of Preferred Deals. Once the proposal has been created, it goes directly to the buyer and whatever changes the buyer might wish to make, can be suggested at the negotiation. On absolute agreement by both the parties, the official sale of a Preferred Deal is said to have been conducted and a corresponding line item is created. Most of the times, a Preferred Deal is made at external conversations, between the buyers and sellers – over phone, email and both parties agree to set up a deal. It summarizes as-
- A non-guaranteed campaign has been negotiated for between you and the buyer. In an Ad Manager proposal, the price, and the terms for inventory are settled on. Ad Manager stores the details on its own to simplify sales and reduce any chances of human errors.
- Until complete satisfaction is achieved by both the parties, the proposal goes back and forth between you and the buyer with the aim of negotiation.
- On finalizing, the buyer is given the initial or the preferred chance to bid on the inventory at whatever price was negotiated. If the buyer does not correctly secure the inventory or does not place a relevant bid which is higher than the decided CPM rate, the inventory opens up for Open or Private Auctions. There is another chance for your inventory to earn revenue.
How to Setup Preferred Deals?
The process of negotiating is the same for programmatic guaranteed and non guaranteed proposals. Once the agreement upon the campaign details, you request the buyer to accept the proposal. Once acceptance is clear, the proposal is finalized and corresponding delivery line items are created by the Ad Manager.
To set up a Preferred Deal:
- Make a proposal.
- Make an addition of proposal line items. These can contain either Programmatic Guaranteed proposal line items, Standard or Sponsorship or Preferred Deal, which are non-guaranteed proposal line items but not both.
- For the line item type, select Preferred Deal.
- For Estimated Quantity, make sure the number you enter is realistic for delivery. These numbers could later be used to check and troubleshoot the campaigns.
- Very similar to guaranteed campaigns, you can conduct negotiations-
- To finalise the deal, request acceptance
- If you still want to negotiate and are not quite ready to reflect the deal as closed, send for review.