Corsair K70 Volume Wheel Function Assignment - Please tell me someone knows

I love the feel and appearance of the K70's volume wheel as I'm sure most people do. I find myself hardly ever using it, however, because it adjusts the global volume on my computer instead of just one application.



Is there any way to assign the wheel to adjust volume in a particular program, say Spotify for example? I find that when I'm in a game and want to lower the volume of something else that's running I have to alt tab when I have a perfectly good volume wheel I could be using.



Thanks