Identifying industry segments with highest potential for new customers or new spending for current customers
First Claim
1. A method comprising:
- generating, by a computer-based system for determining desired industry segments, a first ranking of an industry segment based upon a first data set, wherein the first data set relates to a group of merchants in an industry segment, and wherein the first data set includes at least one of;
a cost of goods sold associated with at least a subset of the merchants within the industry segment, a number of the merchants associated with the industry segment, and a raw materials and inventory cost of goods sold associated with at least the subset of the merchants within the industry segment, and wherein each of the data in the first data set is weighted;
generating, by the computer-based system, a second ranking of the industry segment based upon a second data set, wherein the second data set relates to a group of merchant account holders in the industry segment, and wherein the second data set includes at least one of;
an average amount of spending for the merchant account holders within the industry segment, a percentage of merchant account holders actively spending on raw materials and inventory in the industry segment, a merchant account holder penetration in the industry segment, and a total estimated amount of spending for transaction accounts in the industry segment, and wherein each of the data in the second data set is weighted;
validating, by the computer-based system and based upon a third data set, that a merchant in the group of merchants in the industry segment is interested in increasing charging, wherein the third data set includes data acquired through at least one of interviews with industry experts, interviews with business owners, data associated with industry reports and census data;
generating, by the computer-based system, a third ranking of the industry segment based upon the validating;
combining, by the computer-based system, the first ranking, the second ranking, and the third ranking to generate a combined ranking;
determining, by the computer-based system and based upon the combined ranking, at least one of;
that the industry segment is available for an increase in charging by the group of merchant account holders and a potential for new account holders in the industry segment; and
targeting for follow up communications, by the computer-based system and in response to the determining, at least one of;
a merchant in the group of merchants in the industry segment and a merchant account holder in the group of merchant account holders in the industry segment.
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Abstract
A method and system are used to identify industry segments with highest potential for new customers or new spending for current customers. This includes receiving data, segregated into each of a plurality of industries, relating to a number of small businesses, cost of goods sold for each of the small businesses, and percentage of cost of goods sold that is spent on raw materials and inventory for each of the small businesses. Capturing data, segregated into each of the plurality of industries, relating to average amount charged per current card member, percentage of the current card members charging the raw materials and the inventory, percentage of card member penetration, and total estimated charging for the current card members. Determining which of the plurality of industries or segments of the plurality of the industries are available for a highest potential for new card members or that are available for a greatest amount of incremental increased charging by the current card members. Communicating with the current card members in each of the plurality of industries or segments and receiving data therefrom based on one or more of the previous steps. Communicating with internal and external sources to capture additional industry-specific charging data. Receiving data relating to industry reports and census data. Generating ranked data sets based on the previous steps.
47 Citations
20 Claims
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1. A method comprising:
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generating, by a computer-based system for determining desired industry segments, a first ranking of an industry segment based upon a first data set, wherein the first data set relates to a group of merchants in an industry segment, and wherein the first data set includes at least one of;
a cost of goods sold associated with at least a subset of the merchants within the industry segment, a number of the merchants associated with the industry segment, and a raw materials and inventory cost of goods sold associated with at least the subset of the merchants within the industry segment, and wherein each of the data in the first data set is weighted;generating, by the computer-based system, a second ranking of the industry segment based upon a second data set, wherein the second data set relates to a group of merchant account holders in the industry segment, and wherein the second data set includes at least one of;
an average amount of spending for the merchant account holders within the industry segment, a percentage of merchant account holders actively spending on raw materials and inventory in the industry segment, a merchant account holder penetration in the industry segment, and a total estimated amount of spending for transaction accounts in the industry segment, and wherein each of the data in the second data set is weighted;validating, by the computer-based system and based upon a third data set, that a merchant in the group of merchants in the industry segment is interested in increasing charging, wherein the third data set includes data acquired through at least one of interviews with industry experts, interviews with business owners, data associated with industry reports and census data; generating, by the computer-based system, a third ranking of the industry segment based upon the validating; combining, by the computer-based system, the first ranking, the second ranking, and the third ranking to generate a combined ranking; determining, by the computer-based system and based upon the combined ranking, at least one of;
that the industry segment is available for an increase in charging by the group of merchant account holders and a potential for new account holders in the industry segment; andtargeting for follow up communications, by the computer-based system and in response to the determining, at least one of;
a merchant in the group of merchants in the industry segment and a merchant account holder in the group of merchant account holders in the industry segment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a computer-based system for determining desired industry segments, cause the computer-based system to perform operations comprising:
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generating, by the computer-based system, a first ranking of an industry segment based upon a first data set, wherein the first data set relates to a group of merchants in an industry segment, and wherein the first data set includes at least one of;
a cost of goods sold associated with at least a subset of the merchants within the industry segment, a number of the merchants associated with the industry segment, and a raw materials and inventory cost of goods sold associated with at least the subset of the merchants within the industry segment, and wherein each of the data in the first data set is weighted;generating, by the computer-based system, a second ranking of the industry segment based upon a second data set, wherein the second data set relates to a group of merchant account holders in the industry segment, and wherein the second data set includes at least one of;
an average amount of spending for the merchant account holders within the industry segment, a percentage of merchant account holders actively spending on raw materials and inventory in the industry segment, a merchant account holder penetration in the industry segment, and a total estimated amount of spending for transaction accounts in the industry segment, and wherein each of the data in the second data set is weighted;validating, by the computer-based system and based upon a third data set, that a merchant in the group of merchants in the industry segment is interested in increasing charging, wherein the third data set includes data acquired through at least one of interviews with industry experts, interviews with business owners, data associated with industry reports and census data; generating, by the computer-based system, a third ranking of the industry segment based upon the validating; combining, by the computer-based system, the first ranking, the second ranking, and the third ranking to generate a combined ranking; determining, by the computer-based system and based upon the combined ranking, at least one of;
that the industry segment is available for an increase in charging by the group of merchant account holders and a potential for new account holders in the industry segment; andtargeting for follow up communications, by the computer-based system and in response to the determining, at least one of;
a merchant in the group of merchants in the industry segment and a merchant account holder in the group of account holders in the industry segment.
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16. A system comprising:
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a processor for determining desired industry segments; a tangible, non-transitory memory configured to communicate with the processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; generating, by the processor, a first ranking of an industry segment based upon a first data set, wherein the first data set relates to a group of merchants in an industry segment, and wherein the first data set includes at least one of;
a cost of goods sold associated with at least a subset of the merchants within the industry segment, a number of the merchants associated with the industry segment, and a raw materials and inventory cost of goods sold associated with at least the subset of the merchants within the industry segment, and wherein each of the data in the first data set is weighted;generating, by the processor, a second ranking of the industry segment based upon a second data set, wherein the second data set relates to a group of merchant account holders in the industry segment, and wherein the second data set includes at least one of;
an average amount of spending for the merchant account holders within the industry segment, a percentage of merchant account holders actively spending on raw materials and inventory in the industry segment, a merchant account holder penetration in the industry segment, and a total estimated amount of spending for transaction accounts in the industry segment, and wherein each of the data in the second data set is weighted;validating, by the processor and based upon a third data set, that a merchant in the group of merchants in the industry segment is interested in increasing charging, wherein the third data set includes data acquired through at least one of interviews with industry experts, interviews with business owners, data associated with industry reports and census data; generating, by the processor, a third ranking of the industry segment based upon the validating; combining, by the processor, the first ranking, the second ranking, and the third ranking to generate a combined ranking; determining, by the processor and based upon the combined ranking, at least one of;
that the industry segment is available for an increase in charging by the group of merchant account holders and a potential for new account holders in the industry segment; andtargeting for follow up communications, by the processor and in response to the determining, at least one of;
a merchant in the group of merchants in the industry segment and a merchant account holder in the group of merchant account holders in the industry segment. - View Dependent Claims (17, 18, 19, 20)
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Specification