How to add Buyer Contracts
This article will cover the following:
- What is a buyer contract
- How to set up a buyer contract
- The various components of a buyer contract
What is a Buyer Contract?
A buyer contract within CAKE gives the ability for buyers to purchase leads from a specific vertical or offer. There is a one to many relationship between a buyer and buyer contracts as you may need more than 1 buyer contract per vertical if there are specific filters and corresponding prices or delivery destinations based on that criteria, but there is always a direct relationship between a buyer contract and a vertical.
In order for a buyer to purchase a lead they must have a buyer contract tied to the vertical the lead is sent into.
How to create a Buyer Contract
Add New Buyer Contract Wizard
- Select the buyer you are creating the buyer contract for or if they have not been added yet, click to add a New Buyer
- Click Next
Add New Buyer Contract Wizard (Step 2)
- Select a buyer contract name
- Select the associated vertical this buyer contract will purchase leads from (you can later assign a specific offer if you wish)
- Finally select how many consecutive post errors CAKE will allow before we automatically inactivate the buyer contract. In testing, we advise 11 as this field looks at the 10 last consecutive posts so 11 will never auto-inactivate the buyer contract.
- Click Next
Navigating the Buyer Contract card
Buyer Contract card > Home tab
From the home tab of the buyer contract card you can see the name, and associated buyer and vertical in the breadcrumbs on the left.
The home tab has 2 sub tabs located on the right-hand side.
Info: Here you can see and edit the basic information for this contract as well as a number of additional return related settings.
- Name: Buyer contract name
- Status: Buyer contract status (Active/Inactive/Pending)
- Offer: You can specify that this buyer contract can only purchase leads from an offer as opposed to any offer within the vertical here
- Replace Returns: determines whether the buyer can receive replacement leads for approved returns as compensation
- Replacements Non Returnable: determines whether the replacement leads can be returned or not
- Maximum Return Age: sets the maximum amount of time that a lead can be returned from a buyer
- Buy upsells: determines whether this buyer contract can purchase upsell leads
- Vintage leads: determines whether this buyer contract can purchase old leads which would then be reported in a separately.
Post Information: You can set various post related settings here for this buyer contract
- Minimum Age: the minimum age in minutes that a lead must be to sell to this buyer contract
- Maximum Age: the maximum age in minutes that a lead must be to sell to this buyer contract
- Post wait: the time (in seconds) between posting leads to this buyer contract. This does not affect the sale time, just the delivery time.
- Default thank you link: when purchasing browser posted leads, CAKE can redirect to a specific default redirect page
- Max post errors: determines how many posting errors within the previous 10 attempts CAKE will accept before automatically setting the contract to inactive. Setting this to 11 will disable the setting.
- Send alert only: will prevent the contract from being set inactive when the max post errors is reached and instead simply alert you
- Rank: this number sets the manual priority that CAKE will use when determining the order of sale attempts. It is only valid if the buyer contract delivery schedule has 'priority' set.
- Email template: when email delivery is used, CAKE will use this lead template to send the lead data to this buyer every time a lead is sold to this buyer contract.
Buyer Contract card > Delivery Schedule tab
The Delivery Schedule tab allows you to build out your buyer’s purchasing schedule for this specific buyer contract. When adding a Buyer Schedule you will need to set the days and times that leads can be sold to that buyer contract but additional information is needed information:
\L Type: This delivery type has 3 options affecting how CAKE chooses to sell leads
- Exclusive means that leads can only be sold to 1 buyer, so leads sold to this buyer contract can not be sold to any other buyer contract. The buyer has exclusive rights to the lead.
- Multisell means that the leads must be purchased by at least two buyers so in order to sell to this buyer contract, at least one other buyer contract must also agree to purchase the lead. If we fail to find two buyer contracts who accept the lead CAKE will not sell to anyone.
- Hybrid delivery methods are the best of both worlds - CAKE will try whichever sale method will generate the most money for the client, but will accept a multisell or exclusive sale.
Sweeper: A sweeper is a buyer contract, per day that it is checked, that can purchase a multi-sold lead at a lower price.\L
Priority: Priority overrides the price priority that CAKE uses by default to determine sale attempt order. With priority set, CAKE then looks to the rank set on each buyer contract to determine the order of sale attempt with 0 being the highest. If there are multiple buyer contracts with the same rank, CAKE will rotate between them. If contracts have priority set, CAKE will look at rank first (0 on up), moving onto price priority.
\L No Return: Checking this box will remove the ability for buyers to return leads for that day.
If the buyer contract can accept leads at any time on any day, use the 24/7 button to expedite your schedule build.
Buyer Contract card > Filters tab
Filters are buyer specific requirements for leads. In this tab, you have the ability to filter leads based on specific field values.
In the example above were looking at a state validation for 'contains state'. Here, CAKE will only sell leads to this buyer contract if the value for the state field matches the value entered on the right ('CA' for example for California).
Filters are based off specific fields from your vertical. Whatever value comes in for a particular field can have a filter.
**For information on where to create filters, please see our Buyer Filters document**
Buyer Contract card > Delivery Method
The posting document your buyer has provided you with will be implemented in the Delivery Method tab in the buyer contract. CAKE supports several posting methods including email delivery, POST, GET, JSON and XML. CAKE also supports custom headers if necessary.
This is where you will be mapping the information from your CAKE system to your buyer's according to their posting instructions. You will also need to map responses so that CAKE knows what's a successful post vs. a rejected post.
Some tips and tricks:
- When adding your responses, add your success response first so that if your buyer's responses are similar, we will process successes first
- If you are using an email delivery, a post method may not exist
Buyer Contract card > Ping Delivery Method
If your buyer requires a PING, you can set up your ping delivery method here in the Ping Delivery Method tab. Its very similar to the delivery method, but is designed to post a little less information initially up front in order for your buyer to establish whether they already have that lead, or determine how much they are willing to purchase that lead for.
Tips and tricks:
- In order to ping first, a setting instructing CAKE to ping prior to posting must be set on the offer card
- As with the post, you must map responses so that CAKE knows whether to proceed onto the post or not
- Many PING responses include some type of a ID that's passed back that may or may not be required to include on the post - when doing so you will map that parameter to the ping session ID.
- Many buyers will also include a price in the response, and CAKE will use that as the sale price unless a different price is received on the post.