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, Basis 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 or sends the accepted media plan to the vendor.
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 Basis Platform.
The vendor receives the initial RFP from the buyer during the negotiation process. As the vendor, you receive an email message with the campaign details. Based on the campaign details, you create a proposed plan including line items, objectives, and goals that meet the brand’s goals. You send the proposal back to the buyer.
Note: The first time vendors receive an RFP from Basis Platform, they create an account. Within Basis Platform, they communicate and send a proposal update back to the agency buyer
RFP Response Example
Depending on the buyer, you receive an RFP with an included proposal. You review and copy the initial line item. You modify the line item into a separate proposal and send it back to the buyer. This process negotiation continues back and forth until the media plan is approved.
Throughout the negotiation process, Basis 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.