SOURCING DESK: Exclusive merchant codes vs public-pool codes

SOURCING DESK: Exclusive merchant codes vs public-pool codes
What we hear from people who actually negotiate.
— Exclusive (merchant-issued, your-site-only): unbeatable, no code-stacking competitors, often a higher commission tier attached — but you owe the merchant performance or you lose it next quarter.
— Public pool codes (everyone has them): zero negotiation, instant content, but you're competing on rank alone and the merchant can kill the public code without telling you.
Why it matters: Operators tell us one exclusive converts like ten public codes. The cost is account-manager relationship work most sites won't do. That gap IS the moat.
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