The article will talk you through the concept of a term swap, and how to process.

What is a term swap?

The Meaning of a Term swap is when a customer has a search based product and would like to change the product type or the search term it might look a little bit like this: 


The Purpose of a term swap is so the customer doesn't need to serve 30 days notice and to allow the option to flexibility across products.


Rules to note

There are a few rules around term swaps and they are detailed below:

  1. A term swap can only be completed ASAP if they are spending more than the previous term. 
  2. Customers can swap products too so for example from a Property Carousel to development carousel or Featured developer to Local Homepage - as long as the spend is higher. 
  3. Customer can move the same search term to another development - They cannot cancel one search term and replace it will a different search term on a different development
  4. If an AM has asked for you to waive the 30 notice period for a lower spend, they need an email confirmation from their AD.
  5. If the customer has a property carousel but doesn't have enough properties (minimum of 2) they can move to a developer carousel without 30 days notice regardless of spend. 

 

How to process

  1. First of all you need to ensure the spend is higher. Take in to consideration any discounts that the customer may have.
  2. If the spend is higher then you can go ahead and add the new term and creatives
  3. Then you need to cancel the old term - you will cancel this for 'today' (unless stated otherwise by the AM/form). The Closure reason will be 'Transferred Term'
  4. to set the new term live - you need to set it 'Live Today' but 'Chargeable Tomorrow'. The Reason we do this is because the customer will still pay for their old term today, so we do not want to charge them for 2 terms. The free reason will also be 'Transferred Term' (shown below)

    5. Once this is done - double check everything on site and send the go live email 'Term Swap'.

        It should look something like this:

 

How to process (lower spend)

  1. If the spend is lower, let the AM know and get an email confirming the ADs authorisation to waive the 30 days notice - then process as above.
  2. If the AM is happy with the 30 days notice, then you will process  using the Corp bible and entering the leaver date as the date that the form was signed to get the date to close the old term. 
  3. The date that the old product is due to come off is the date the new term goes live, it then goes chargeable 1 day later.