What was the role of digital within the media mix?
CurrencyFair was able to shift from flat payout rates to fine-tuned rates for each partnership, and even for different products, thanks to Impact’s partnership automation technology.
Automated contracting flexibility helped in other ways, too. First, CurrencyFair could reward partners for referred users only once the user had completed their first transfer - or once the user’s cumulative transfers reached a certain value. Partners benefited too: If they targeted and referred high-value users, they would receive greater compensation.
Now, CurrencyFair tracks the aggregate value of users each partner is driving to the site, which helps it continually optimise its affiliate programme.
What results did you attain? What was the biggest achievement?
Smart contracting - and focusing on acquiring high-value customers - produced exceptional results. The outcome was 98% revenue growth year-on-year.
Besides growth, the partnership channel also garnered a reputation internally for acquiring quality customers. Using the Partnership Cloud, CurrencyFair not only retained and optimised existing partnerships, it also recruited partners in strategic regions and niches.
The partnership programme exceeded growth targets for actions like signups and first transfers, with 82% more actions recorded. It also generated 98% more revenue, with the programme nearly doubling its revenue YoY, thereby solidifying it as the organisation’s highest-performing acquisition channel.
Strategic recruitment helped CurrencyFair’s expansion into new audiences, with 16% more partners, and contributed to success in other growth metrics.
Smart use of technology and the strategic approach to partnerships moved the needle for the company as a whole. Through its collaboration with Impact, CurrencyFair drove revenue growth, implemented efficiencies and nurtured meaningful partnerships.
What was the killer headline?
CurrencyFair’s revenue grows 98% thanks to partnership automation