System and method for identifying optimal marketing offers
First Claim
1. A computer-implemented method for identifying optimal marketing offers using a computer processor, the method comprising:
- collecting and analyzing information associated with a plurality of potential marketing offers;
identifying, with the computer processor, a plurality of marketing offers, from the plurality of potential marketing offers, that are eligible for inclusion in a marketing campaign, based on a plurality of predetermined criteria and the collected information, where the plurality of potential marketing offers are evaluated for eligibility on a household level, a prospect level and an offer level;
calculating a measure of profitability and response rate for each of the identified eligible marketing offers, the measure of response rate for each of the eligible marketing offers comprising a net response rate (NRR) calculated based on an associated time-degradation factor; and
identifying at least one optimal marketing offer from the eligible marketing offers based at least in part on the measure of profitability and response rate for each of the eligible marketing offers.
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Abstract
The present invention provides for a system and method for identifying optimal marketing offers in a mass marketing campaign. An optimal offer for a particular prospect at a particular time in the multi-wave campaign is determined. In accordance with one embodiment of the present invention, offer information is initially collected for each of the various offers tagged for potential inclusion into a. Each offer is analyzed to determine its eligibility for inclusion in a marketing campaign to a particular household or individual prospect within a household. A systematic evaluation of eligibility applies a plurality of predetermined criteria to each offer on a household level, a prospect level and an offer level. In this manner, offers failing such criteria may be easily removed from inclusion in the campaign. A net present value (NPV) and a net response rate may be calculated for each eligible offer to identify one or more optimal marketing offers.
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Citations
32 Claims
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1. A computer-implemented method for identifying optimal marketing offers using a computer processor, the method comprising:
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collecting and analyzing information associated with a plurality of potential marketing offers; identifying, with the computer processor, a plurality of marketing offers, from the plurality of potential marketing offers, that are eligible for inclusion in a marketing campaign, based on a plurality of predetermined criteria and the collected information, where the plurality of potential marketing offers are evaluated for eligibility on a household level, a prospect level and an offer level; calculating a measure of profitability and response rate for each of the identified eligible marketing offers, the measure of response rate for each of the eligible marketing offers comprising a net response rate (NRR) calculated based on an associated time-degradation factor; and identifying at least one optimal marketing offer from the eligible marketing offers based at least in part on the measure of profitability and response rate for each of the eligible marketing offers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A computer readable medium having code for causing a processor to identify optimal marketing offers, the computer readable medium comprising:
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code adapted to collect and analyze information associated with a plurality of potential marketing offers; code adapted to identify a plurality of marketing offers, from the plurality of potential marketing offers, that are eligible for inclusion in a marketing campaign, based on a plurality of predetermined criteria and the collected information, where the plurality of potential marketing offers are evaluated for eligibility on a household level, a prospect level and an offer level; code adapted to calculate a measure of profitability and response rate for each of the identified eligible marketing offers, where the measure of response rate for each of the eligible marketing offers comprises a net response rate (NRR) calculated based on an associated time degradation factor; and code adapted to identify at least one optimal marketing offer from the eligible marketing offers based at least in part on the measure of profitability and response rate for each of the eligible marketing offers. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A system for identifying optimal marketing offers, the system comprising:
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a processor; a computer readable medium storing; a data analysis module configured to collect and analyze information associated with a plurality of potential marketing offers; an identification module configured to identify a plurality of marketing offers, from the plurality of potential marketing offers, that are eligible for inclusion in a marketing campaign, based on a plurality of predetermined criteria and the collected information, where the plurality of potential marketing offers are evaluated for eligibility on a household level, a prospect level and an offer level; a calculation module configured to calculate a measure of profitability and response rate for each of the identified eligible marketing offers, where the measure of response rate for each of the eligible marketing offers comprises a net response rate (NRR) calculated based on an associated time-degradation factor; and an optimization module configured to identify at least one optimal marketing offer from the eligible marketing offers based at least in part on the measure of profitability and response rate for each of the eligible marketing offers. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24)
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25. A system for identifying optimal marketing offers, the system comprising:
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means for collecting and analyzing information associated with a plurality of potential marketing offers; means for identifying a plurality of marketing offers, from the plurality of potential marketing offers, that are eligible for inclusion in a marketing campaign, based on a plurality of predetermined criteria and the collected information, where the plurality of potential marketing offers are evaluated for eligibility on a household level, a prospect level and an offer level; means for calculating a measure of profitability and response rate for each of the identified eligible marketing offers, where the measure of response rate for each of the eligible marketing offers comprises a net response rate (NRR) calculated based on an associated time-degradation factor; and means for identifying at least one optimal marketing offer from the eligible marketing offers based at least in part on the measure of profitability and response rate for each of the eligible marketing offers. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32)
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Specification