System, method and computer program product for predicting value of lead

• US 8,589,250 B2
• Filed: 12/30/2009
• Issued: 11/19/2013
• Est. Priority Date: 12/30/2009
• Status: Active Grant

• Current Assignee: TrueCar, Inc.
• Original Assignee: TrueCar, Inc.
• Inventors: Noy, Oded, McBride, Jason, Lepler, William, Painter, Scott
• Primary Examiner(s): FADOK, MARK A
• Application Number:
  US12/655,462
• Publication Number:
  US 20110161197A1
• Time in Patent Office: 1,420 Days
• Field of Search: 705/26, 705/26.1, 705/26.4
• US Class Current: 705/26.4
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0282 Rating or review of business operators or products
• CPC Class Codes: G06Q 30/0639 Item locations

Abstract

Embodiments disclosed herein provide a solution in determining a lead value and making an introduction accordingly. In some embodiments, in response to a consumer'"'"'s search request for a retail item within a geographical area, a decision system may obtain from a local database a list of dealers capable of provisioning the retail item—such as a new or used vehicle—at various locations within the geographical area. For each dealer, the system may calculate a dealer score across a plurality of tests and set a dollar value to an introduction utilizing the dealer score associated therewith. The performance measures of the tests may be normalized and adjusted utilizing a set of coefficients. The list of dealers may be sorted per dollar value of introduction and presented to the consumer. To provide more accurate dealer evaluations, the system may periodically reset the set of coefficients using sales data.

Claims

1. A method of determining a value of a lead and making an introduction based thereon, comprising:

receiving at a server computer hosting a Web site a request from a browser application running on a client device of a consumer, wherein the request contains information about a retail item and a geographical area;

extracting, by the server computer, the information about the retail item and the geographical area from the request;

obtaining, by the server computer from a database coupled to the server computer, a list of dealers capable of provisioning the retail item at various locations within the geographical area;

determining, by the server computer, a dollar value of making an introduction between each of the dealers and the consumer, wherein the dollar value of making an introduction between a dealer and the consumer is determined utilizing a dealer score associated with the dealer and the dealer score is calculated based at least in part on a close rate for the dealer and a dollar value associated with the retail item;

sorting, by the server computer, the list of dealers per their corresponding, individual dollar value of making an introduction; and

presenting the sorted list of dealers to the consumer via the client device.

2. The method according to claim 1, further comprising:

for each of the dealers, calculating the dealer score across a plurality of tests.

3. The method according to claim 2, further comprising testing multiple coefficients for each of the dealers.

4. The method according to claim 1, further comprising periodically re-evaluating the list of dealers utilizing data from previous sales associated therewith.

13. The method according to claim 1, wherein the dollar value of making an introduction comprises the dealer score, multiplied by a score confidence, multiplied by a dollar amount per car sold.

14. The method according to claim 1, further comprising weighting one or more variables in a calculation of the dollar value of making an introduction, wherein variables associated with no lead are given a 0 weight, and variables associated with a sale are given a greater weight than variables associated with a lead.

15. The method according to claim 2, wherein the plurality of tests include distance, price savings, sales to a particular zip code, and the close rate of a particular dealer.

5. A computer program product comprising at least one computer-readable storage medium storing computer instructions translatable by a processor to perform:

receiving at a server computer hosting a Web site a request from a browser application running on a client device of a consumer, wherein the request contains information about a retail item and a geographical area;

extracting, by the server computer, the information about the retail item and the geographical area from the request;

obtaining, by the server computer from a database coupled to the server computer, a list of dealers capable of provisioning the retail item at various locations within the geographical area;

determining, by the server computer, a dollar value of making an introduction between each of the dealers and the consumer, wherein the dollar value of making an introduction between a dealer and the consumer is determined utilizing a dealer score associated with the dealer and the dealer score is calculated based at least in part on a close rate for the dealer;

sorting, by the server computer, the list of dealers per their corresponding, individual dollar value of making an introduction; and

presenting the sorted list of dealers to the consumer via the client device.

6. The computer program product of claim 5, wherein the computer instructions are further translatable by the processor to perform:

for each of the dealers, calculating the dealer score across a plurality of tests.

7. The computer program product of claim 6, wherein the computer instructions are further translatable by the processor to perform:

testing multiple coefficients for each of the dealers.

8. The computer program product of claim 5, wherein the computer instructions are further translatable by the processor to perform:

periodically re-evaluating the list of dealers utilizing data from previous sales associated therewith.

16. The computer program product of claim 5, wherein the dollar value of making an introduction comprises the dealer score, multiplied by a score confidence, multiplied by a dollar amount per car sold.

17. The computer program product of claim 5, wherein the computer instructions are further translatable to weight one or more variables in a calculation of the dollar value of making an introduction, wherein variables associated with no lead are given a 0 weight, and variables associated with a sale are given a greater weight than variables associated with a lead.

9. A system for making an introduction on a lead-by-lead basis, comprising:

a processor; and

at least one computer-readable storage medium storing computer instructions translatable by the processor to perform;

receiving at a server computer hosting a Web site a request from a browser application running on a client device of a consumer, wherein the request contains information about a retail item and a geographical area;

extracting, by the server computer, the information about the retail item and the geographical area from the request;

obtaining, by the server computer from a database coupled to the server computer, a list of dealers capable of provisioning the retail item at various locations within the geographical area;

determining, by the server computer, a dollar value of making an introduction between each of the dealers and the consumer, wherein the dollar value of making an introduction between a dealer and the consumer is determined utilizing a dealer score associated with the dealer and the dealer score is calculated based at least in part on a close rate for the dealer;

sorting, by the server computer, the list of dealers per their corresponding, individual dollar value of making an introduction; and

presenting the sorted list of dealers to the consumer via the client device.

10. The system of claim 9, wherein the computer instructions are further translatable by the processor to perform:

for each of the dealers, calculating the dealer score across a plurality of tests.

11. The system of claim 10, wherein the computer instructions are further translatable by the processor to perform:

testing multiple coefficients for each of the dealers.

12. The system of claim 9, wherein the computer instructions are further translatable by the processor to perform:

periodically re-evaluating the list of dealers utilizing data from previous sales associated therewith.

18. The system of claim 9, wherein the dollar value of making an introduction comprises the dealer score, multiplied by a score confidence, multiplied by a dollar amount per car sold.

19. The system of claim 9, wherein the computer instructions are further translatable to weight one or more variables in a calculation of the dollar value of making an introduction, wherein variables associated with no lead are given a 0 weight, and variables associated with a sale are given a greater weight than variables associated with a lead.

20. The system of claim 10, wherein the plurality of tests include distance, price savings, sales to a particular zip code, and the close rate of a particular dealer.