By Ted Barthell on September 3, 2015
Attracting new customers is essential to the growth of your business, but it is often difficult to find and influence new audiences. In fact, it can cost five times more to reach a new customer than keep an existing one.* Determine how the value of a new vs. returning customer differs for your business, and try adjusting your payouts to incentivize your media partners accordingly.
We’re introducing a cool new feature to the Impact Radius Partner Manager platform that’s designed to make these adjustments easier: customized payouts based on Customer Status. When specifying the terms of an insertion order, you can use this option to adjust payouts for new vs. existing customers.
These adjustments are made on top of your base payout. You can set a certain percentage increase in payouts for new customers. For example, you may want to pay an additional 1% to a media partner bringing you a new customer on top of your base payout of 4% for a sale.
Increase payouts for new customers and your partners will be incentivized to grow your customer base.