Method, apparatus, and computer program product for setting a benchmark conversion rate

A computer program product for utilizing a real-time determination of an achievable conversion rate to determine one or more particular merchants from among particular merchant classes to target and how many additional units will sell, the determination, in real-time, of the achievable conversion rate utilizing data from one or more subdivisions located in different geographic regions, and automatically includes one or more particular subdivisions and excludes one or more other particular subdivisions, the computer program product comprising at least one non-transitory computer-readable storage medium having computer-executable program code instructions stored therein, the computer-executable program code instructions comprising program code instructions for:

• accessing, in real-time, user search data, the user search data generated by a user interacting with a promotion and marketing service to identify a requested promotion, the user search data comprising at least location specific data;
• generating an identification pair for the search data, the identification pair comprising a first classification and a second classification, the first classification identifying a promotion tuple, comprising at least a category of promotion, and the second classification identifying a location identified by the location specific data,
• the first classification and the second classification generated by:
• normalizing the user search data, supplying the normalized user search data to a classifying model as attribute data, wherein the classifying model is a trainable classifier adapted based on a training data set of exemplary data representing exemplary terms previously determined to be semantically related to particular categories,
• generating a search velocity based on the generated identification pairs;
• accessing a conversion rate for the promotion tuple in a plurality of different geographic subdivisions;
• setting a benchmark rate for a promotion tuple, the benchmark rate configured for establishing a benchmark conversion rate for each of one or more identification pairs to estimate an achievable conversion rate in a given identification pair when that identification pair were stocked with adequate supply,
• wherein the benchmark rate corresponding to the conversion rate of a different subdivision of the plurality of different subdivisions based on the different subdivision satisfying at least one of a search velocity threshold, a prime merchant metric threshold or a conversion rate threshold,
• wherein the benchmark rate is set to a maximum conversion rate from one of (a) an average conversion rate for the promotion tuple in a peer group of different subdivisions or (b) a pre-defined percentile of all conversion rates for the promotion tuple across all subdivisions in the peer group;
• identifying one or more providers in the subdivision having the benchmark rate;
• transmitting information identifying the one or more providers to a lead generation module;
• and
• generating a prioritized call list for each of one or more sales resources, the prioritized call list comprising information identifying the one or more providers.

An apparatus for utilizing a real-time determination of an achievable conversion rate to determine one or more particular merchants from among particular merchant classes to target and how many additional units will sell, the determination, in real-time, of the achievable conversion rate utilizing data from one or more subdivisions located in different geographic regions, and automatically includes one or more particular subdivisions and excludes one or more other particular subdivisions, the apparatus comprising at least one processor and at least one memory including computer program code, the at least one memory and the computer program code configured to, with the processor, cause the apparatus to at least:

• access, in real-time, user search data, the user search data generated by a user interacting with a promotion and marketing service to identify a requested promotion, the user search data comprising at least location specific data;
• generate an identification pair for the search data, the identification pair comprising a first classification and a second classification, the first classification identifying a promotion tuple, comprising at least a category of promotion, and the second classification identifying a location identified by the location specific data,
• the first classification and the second classification generated by:
• normalizing the user search data, supplying the normalized user search data to a classifying model as attribute data, wherein the classifying model is a trainable classifier adapted based on a training data set of exemplary data representing exemplary terms previously determined to be semantically related to particular categories, and
• generate a search velocity based on the generated identification pairs;
• access a conversion rate for the promotion tuple in a plurality of different geographic subdivisions;
• set a benchmark rate for a promotion tuple, the benchmark rate configured for establishing a benchmark conversion rate for each of one or more identification pairs to estimate an achievable conversion rate in a given identification pair when that identification pair were stocked with adequate supply,
• wherein the benchmark rate corresponding to the conversion rate of a different subdivision of the plurality of different subdivisions based on the different subdivision satisfying at least one of a search velocity threshold, a prime merchant metric threshold or a conversion rate threshold,
• wherein the benchmark rate is set to a maximum conversion rate from one of (a) an average conversion rate for the promotion tuple in a peer group of different subdivisions or (b) a pre-defined percentile of all conversion rates for the promotion tuple across all subdivisions in the peer group;
• identify one or more providers in the subdivision having the benchmark rate;
• transmit information identifying the one or more providers to a lead generation module;
• and
• generate a prioritized call list for each of one or more sales resources, the prioritized call list comprising information identifying the one or more providers.