Automated Partner Payments Are Your Secret Weapon in the Creator Economy – But Why?
By Evan Heby, Senior Manager - Industry & Partner Marketing, Tipalti
Advertising Has Gone Beyond Out-of-Home
The creator economy has exploded over the last decade, and many companies across the globe are looking for new ways to monetize their growing communities of users.
One key industry that exemplifies this shift is advertising. The days when traditional advertising, like television ads or out-of-home ads (OOH – think billboards or ads that you see on the side of public transit vehicles) ruled are numbered, and businesses must find other ways to connect with their audiences and communities.
ROI on traditional advertising campaigns can be difficult to measure and direct attribution can be nearly impossible – there is no standard way of calculating the ROI of a billboard advertisement, and it is often up to the advertiser to measure results.
With advancements in technology, there has been a shift in advertising towards a more niche, targeted approach because businesses have better access to consumer data and that data is being used to help match ads with the right publishers.
Additionally, this technology shift is leading to an increase in digital advertising; the success of digital-first campaigns is often measured by customer engagement – number of ad clicks, time spent on the ad page, conversions, etc.
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Tapjoy is a prime example of a modern advertising company employing niche strategies to help businesses reach their ad targets. Tapjoy is committed to helping brands expand their reach through targeted advertising. Specifically, they focus on helping both gaming companies and brand publishers monetize their apps/sites by:
- Monetizing users with rewards to keep playing their game, or stay on their website, longer.
- Providing rewards for small in-game achievements or watching in-game ads to improve app engagement.For brands, this could be offering discounts on products or services as a reward for watching an advertisement
- Increasing overall user acquisition through incentive offerings
Through these strategies, this guarantees also that gaming and publishing partners increased traffic, faster conversion rates, and overall better user engagement.
What Makes Tapjoy Unique?
Tapjoy works with advertisers to help them reach their ideal mobile audience through rewarded video ads and their proprietary offerwall – both strategies increase user engagement and encourage increased in-app purchases and improve advertiser exposure. Success is defined by how much more traffic they can drive for their game developers and publishing partners, so keeping their partners happy is crucial to long-term success. A strong, growing partner network is what keeps the lights on, and that’s why they prioritized implementing a best-in-class payments experience for their partners.
Keeping publishing partners happy not only helps delight their current customer base, it makes a positive impact in terms of attracting new partners down the road. Assistant Controller, Richmond Ang, echoes the sentiment that partner happiness is critical to Tapjoy’s success: “A crucial component of [our] mobile performance-based advertising platform is managing timely and accurate payments to our app developers and publishing partners every month, across approximately 40 countries, and all in local currency.”
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Show me the Money!
Accurate partner payments are Tapjoy’s ‘ace in the hole;’ today, publishers expect to be paid quickly and accurately for the ads they serve, and if they are not, that’s incentive enough to work with a different advertising network. On-time payments make their team more appealing to work with over their competition. Before implementing a solution to automate publisher payments, the team was spending double the amount of time it takes them today to pay their partners accurately; since each payment had to be checked manually, it left very little time for the team to work on strategic initiatives. Further, the ability to offer a wide array of payment methods, including ACH, eCheck, wire transfer, PayPal, and more, helps Tapjoy build better loyalty and satisfaction with creators/partners, which keep them coming back.
Tapjoy’s reputation as a leader in driving traffic for app developers and publishers helps them attract new customers, and the team can easily retain those partners because they get used to a world-class payments experience; app developers and publishers that use Tapjoy can rest assured that they are getting paid accurately and on-time, every time. Lastly, Tapjoy partners with global audiences benefit from the ability of being paid in local currencies, no matter where their content is being consumed, so partners won’t have to worry about burdensome currency conversions.
Why Payments Matter
Access to key user data is part of Tapjoy’s secret sauce: they can help you figure out who to target, at what time, and suggest which offer may have the best conversion rate for your business. None of that matters if publishing partners or game developers don’t get paid on time and accurately for their help serving those ads.
For Tapjoy, increasing engagement is their main goal, but without an automated, streamlined payments system to help remit game developer / publisher payments, the company’s growth would be at risk. Working with Tipalti, Tapjoy is now empowered to transact in over 196 countries, 120 currencies, and 6 payment methods, which has helped the Tapjoy team reduce payment management workload by over 50%. Specifically, improvements to payment reconciliation, payee portals & communications, and tax & regulatory compliance has elevated Tapjoy’s payables to best-in-class standards, which allows their team to focus more time and energy on product development and acquiring new partners, as opposed to focusing on clerical payables work.
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