The negotiation process introduces the RFP, generates proposals, provides communication, and creates the final campaign. The buyer (agency contact) and vendor communicate in search of meeting the combination of media, units, and budget for the campaign objective and goals. The buyer initiates the negotiation process by sending an RFP to a vendor. The RFP includes the campaign details. The vendor reviews the details to meet the brand’s objective, budget, and goals and match the available inventory.
During negotiation, Centro Platform supports the communication between the buyer and vendor. The communication includes email notifications, messages, and media plan proposals. The buyer and vendor receive, review, merge, and edit the line items in a media plan using versioned Proposals. This process mediates an agreement between parties. They agree on the line item details, units, and payment terms. The buyer initiates the insertion order (IO) based on the approved media plan.
Message and Proposal Communications
The buyer creates and submits the RFP that initiates the negotiation process with vendors. As the buyer, you select the vendor along with the contact recipient, enter the applicable information in the message body, and submit the details for this RFP. You send the same or separate custom variation of the RFP to various vendors by Messages through Centro Platform.
The vendors receive the RFP and respond with an initial proposal along with a minimum of one property and a line item. A copy of the email is accessible on your Messages. The Dashboard also displays the RFP and proposal updates in the Notifications, Activity feed, and Messages along with your campaign status, activity feed, and messages. The vendor collaborators also view the updates.
The vendor receives the email message from you. The initial RFP email includes a link launching the Centro Platform system. The vendor creates a proposal aligned with the campaign goals. The proposal includes adding properties and line item details. The vendor sends the proposal back to you. You compare and merge the proposal to an updated copy. Centro Platform allows you to negotiate with the vendor with the copies of the media plans.
Throughout the negotiation process, Centro Platform tracks and stores copies of the proposals. The agency contact and the vendor share the proposals by copying, merging, editing, and submitting the proposals. The proposal updates include the variations of the vendor, properties, and line items. The negotiation continues with the proposals until you and the vendors approve the media plan.