Know-How Exchange : Advertising/PR

Before these meetings, do some research into the audience for each channel. Request a media kit from each, and read it to learn about specific demographics of viewers that watch the channel. Then, see if you can uncover any secondary research that already exists which can give you insight into the needs, motivators and preferences of that audience, and how your product/service appeals to these needs. You may also want to conduct primary research into those groups for which your product might have the most resonance, or those for which there is not adequate information available.

Hello

I work with TV stations every day. The one thing I know for sure is that they will try to overprice and overvalue their product to what they can get you to pay for it, rather than pricing it on it's actual value. Do not pay what they ask you to - reduce it dramatically, probably by half, and tell them that's all the money you have and see if they'll take it.

I would strongly recommend that you get an advertising agency involved. Although the ad agency will cost you money, they are the only people who can be neutral experts in this for you. They can give you the measurement of each stations' audience, what their regular ad pricing would be, and all of the other information that you need to know to negotiate. They will also make the station behave better because they know that an expert is involved and that they will get caught in their lies - sorry, I mean exaggerations!

Try to find a local agency - they will have an existing relationship and familiarity with these stations that will help you more than a national firm.

Good luck.

Claire
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I'd just start with a conversation. Don't go in with a proposal or dollar value in mind. Make them make the proposal. Let them start with the first price-- in negotiation, a rule is whoever mentions price first, loses. I'd share that you've got appointments with several others and will review all proposals.

I agree with Carol, don’t discuss price first. Listen to what they have to say. Your first to second meetings will be brainstorming/collaboration meetings.

See if you can get an example for a similar promotional package before your meeting. This will give an indication how they will plan to promote your event and how they are reselling it to advertisers. If you do the calculation, you might have an idea of potential revenue that your event could generate. Also, expand your negotiation to not only price, but added value (i.e. promos, vignettes, live interviews, etc.) If you are planning to broadcast the event the following years, you need to demonstrate that it is generating enough interest and TV audience to come back to the negotiation table.

How long have you been running events like this? Do you have any "name" fighters that have a following? Have your events generated money for you at the door? Do you have sponsors?

They will want to know what you bring to the table. An event is worth nothing if they don't make money on it, and they will want some assurances going in that you have thought of the ways they can profit. Not "I think you can get some advertisers," but "Here are some people who will sponsor this event." Actual names of sponsors you've already talked to are key at this stage.

Walk in with numbers - the revenue previous fights have generated, the number of sponsors you bring to the table (and contact information, if available), the size of the audience, the amount of buzz around the fighters involved, any and all data they can use to "do the math" is important to help you win the deal.

It may be difficult to get a TV station to pay you for an untested product - your event. They are all interested in talking to you because they believe you may be worth money to them. How they will be compensated is open for discussion, and there are a number of ways that is calculated.

For example:
1. You pay for the broadcast time and sell advertising to cover your expenses.
2. You pay for the broadcast time, and both you and the TV station sell advertising to run during the event.
3. They broadcast the event and don't charge you, but keep all the revenue for themselves.
4. They broadcast the event, you get a share in the revenue that is generated.
5. They pay you a flat fee for the event.
6. I'm sure they have other options up their sleeve. It's all open to negotiation.

The larger the broadcast area, the higher the stakes. If you're working with the local affiliate, and this will be broadcast locally only, the risk is much lower, and they may be more willing to negotiate. If you want regional, national, or international coverage, they are going to want a much bigger piece of the pie.

Do your homework before you meet with them. It most likely will take more than one meeting to seal the deal. In the first meeting, give them as much information as you can, and find out what they are looking for. Go home and do your homework. See if you can meet all their requirements, and then set up another meeting.

Once you find out what they have to offer, you'll be able to start negotiations. You can't do that until you get all the data collected that I've mentioned.

Good luck!