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With Preferred Deals, you have the liberty to offer the buyers inventory at a price that has been specifically negotiated and bears in mind the minimum CPM rate. There is no formal agreement in Preferred Deals, so there is no contractual obligation for you to save the inventory for the buyer. If you are being offered a higher price by some other, you can sell it off, and there is no obligation on the buyer to purchase the entire inventory.
The proposal is the start of Preferred Deals. Once the proposal has been created, it goes directly to the buyer, and whatever changes the buyer might wish to make can be suggested at the negotiation. On absolute agreement by both parties, the official sale of a Preferred Deal is said to have been conducted, and a corresponding line item is created. Most of the time, a Preferred Deal is made at external conversations between the buyers and sellers – over the phone, or email and both parties agree to set up a deal. It summarizes as-
The process of negotiating is the same for programmatic guaranteed and non-guaranteed proposals. Once the agreement upon the campaign details, you request the buyer to accept the proposal. Once acceptance is clear, the proposal is finalized, and corresponding delivery line items are created by the Ad Manager.
To set up a Preferred Deal:
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Preferred deals are where you and the buyer negotiate a price and terms for inventory that the buyer can optionally buy. Programmatic guaranteed deals allow you to execute direct buys with publishers while eliminating manual processes.
Preferred deals can be assigned in the following: 1. In the line item's audience targeting 2. In the line item's creative assignment 3. In the partner settings, under inventory source 4. In the line item's inventory source targeting.
Private auctions are known as private marketplaces or invitation-only auctions. Private auctions are not like preferred deals. Preferred deals do not involve real-time bidding.