Negotiate on your terms, not an agent or the other side’s terms.
Negotiating contracts and offers with a celebrity and their team is often the final, and most important, part of the contracting process. After making a proposed formal offer, there is almost always a counter-offer made from the talent in which they alter some aspect of the suggested deal. Once this is done, the marketer, agency, and their associated legal teams review these changes – accepting those that are agreeable and pushing back on those that are not.
In order to have a successful experience, keep the following tips in mind
- Break It Down – A good way to agree on negotiations during contracting is to break the terms in to separate parts. It can often be easier to compartmentalize than take the “all or nothing” approach. By going through each component and deciding on solutions, negotiating large parts of a contract can seem less overwhelming.
- Research and Use Facts – Let the celebrity’s team know that the contract offers are in line with industry offers, standards, and pricing. When successfully negotiating, it is important to separate personal feelings from business; this makes it easier to justify the requests being made. Avoid making negotiations seem personal by using terms such as “I believe” or “I think,” always choose hard facts and list examples.
- Prioritize – Decide which elements of the contract are most important, and which can include some leniency. While negotiating, know the top priorities (usually the business or money-making opportunity) and how other details and sections categorize under that. The celebrity may have different priorities, so know which are the most important for both sides.
- Make Offers and Compromise – During the negotiating process, it is important for both sides to feel they’ve made a good deal. Don’t start the negotiating process by revealing the bottom line, leave room to meet the celebrity’s team halfway. Offers should always leave space for compromises on both party’s parts, and leave both sides feeling like something has been achieved on their end of the contract.
- End on a Positive Note – Find points of agreement throughout the contract and end on a positive note, this leaves the potential to work together again in the future. Agreeing on certain elements of the negotiation helps to set a positive and collaborative tone throughout the project. Creating a positive environment and work experience helps move along the project, generates progress, and may result in agreement on various aspects of the contract. You’ll be working with and wanting consensus or approval from the agent. It’s important for your campaign’s success to conclude the negotiation on a positive note.
The negotiation process will continue until all the items are fully aligned by both parties and a final contract is agreed upon. This may not be achieved in just one revision; there are many different variables that dictate how long the process may take.