Here’s the thing. Marketers need partners at both the top of their funnel and the bottom. They need someone to introduce their goods and services to potential customers, and they need someone to close those sales. For years, partner marketing and its traditional last-click model have focused on the closers and neglected the introducers and influencers. But with the continued importance of content partners and a growing focus on social influencers, it’s time for partner marketing to recognise and reward value driven at every stage of the conversion path.
Now, for the first time, marketers can truly pay for the value their influencers bring, even when they don’t get that precious last click. Today, Impact Radius launched Dynamic Payouts, an update to Partner Manager’s contracting capability, offering marketers a new payment structure that will enable them to fairly value and compensate influencers and other types of content partners.
This update is especially timely because we know that influencers are driving a lot more revenue than they used to, and marketers are looking for good ways to manage them and ensure they are fairly compensated. Dynamic Payouts works in conjunction with our Partner Insights reporting to allow marketers to set up participation bonuses for partners who contributed to a sale, while dynamically reducing the closer’s payout and keeping total spend static.
It’s not just about influencers, either the feature enables marketers to set payouts based on more than 100 factors, such as customer status, margin, or the specific items in the order. This, in turn, incentivizes partners to drive higher-value sales. We think Dynamic Payouts will allow advertisers to compensate all of their partners in a fair and transparent way which is the spirit of performance-based relationships.
For instance, maybe you want to bump up payouts on flights to Minnesota in February because they’re hard to sell. Or, you want to reduce payouts whenever the total discount exceeds 15%. Or maybe you want to increase payouts on orders that contain two or more fidget spinners because you’ve still got a warehouse full of them.
Dynamic Payouts enables you to decide which specific criteria are most valuable to your business, and to base payout rates on any combination of those criteria. As a result, you’ll be able to grow revenue, increase efficiency, and make your influencers more influential.
We’re still in the process of enabling Dynamic Payouts for all our advertisers. If you’re interested in having it turned on for your account, please email our support team.back to all blogs