Don't know who Seth Godin is or what this plugin does? In short, Seth Godin is a marketing guru who has created several internet ventures and written a bunch of books. According to the developer, this plugin idea was sparked by a few words of Seth's in one of his books: "One opportunity that's underused is the idea of using cookies to treat returning visitors differently than newbies. It's more work at first, but it can offer two experiences to two different sorts of people."
That leads us to the basic idea behind this plugin. It allows you to target returning visitors different from new visitors.
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