Like an annual dance, lawyers each year find themselves in the position of having to renew their Yellow Pages ads. In years gone by, ad reps would come in and let you know the rate and have you sign the renewal contract. But with the upheaval in the print advertising world, lawyers are in a better position to negotiate far better rates than ever before.
Things are so bad that R.H. Donnelley, one of the nation's largest yellow pages publishers, filed for bankruptcy in early 2009. Companies that sell Yellow Pages ads are hungrier than ever.
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First, realize that the rate quoted is the "sucker rate." This is what the uninformed marketer pays.
Second, understand that when the rep tells you the deadline for ad submission that's usually a few days or weeks away from the real date.
Finally, remember that Yellow Pages reps are paid by commission. So if they sell fewer ads they get paid less.
Understanding this, don't be afraid to haggle a little bit. Let the rep know you're on the fence, considering non-renewal in favor of other media such as TV, radio or online. This will scare the rep just a bit.
Next, stretch out the negotiations for as long as possible. Get the contract and let it sit on your desk. When the rep calls, let him or her know you're just not sure about it yet. Perhaps if they gave you a better rate it might make it easier to decide.
Then, when they come back with a better rate (never consider a bigger ad or an added Internet listing to be a better rate - we're looking for cash in your pocket) tell them it's just not good enough. Knock off 20% and see if they bite.
If not, sit back and wait until the date they gave you as the deadline. You won't need to call the rep - he or she will be calling you twice a day by that time.
Smell the desperation? Good. Now offer them 50% of the rate they originally quoted. Either they'll go for it or come to you with their "real" rate - the one they charge just to get you in the door.
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