Benchmark Conversion Rate Setting for Sales Pipeline Automation
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Solution Overview
Problem
Current methods for managing a sales pipeline are inefficient due to manual steps and accuracy issues, necessitating a solution that automates the process while improving precision.
Innovation Solution
A system and method that access user search data to identify promotions, generate identification pairs, calculate search velocity, and set benchmark conversion rates based on geographic subdivisions, prime merchant metrics, and inventory thresholds, enabling the identification and classification of suitable providers and regions for lead generation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual steps are used in sales pipeline management, then flexibility and adaptability are maintained, but efficiency and accuracy deteriorate
Solution Approach 1:
The system automatically performs sales pipeline management tasks including accessing user search data, generating identification pairs, calculating search velocity, and setting benchmark conversion rates without requiring manual intervention. The automated system serves itself by continuously processing data and updating benchmarks, eliminating the need for manual steps while maintaining high efficiency and accuracy.
2Measurement precision
If comprehensive data analysis is performed to set accurate benchmark conversion rates, then measurement precision improves, but computational complexity and processing time increase
Solution Approach 1:
The system segments the sales pipeline management process into distinct modular components: data access module, identification pair generation module, search velocity calculation module, and benchmark setting module. Each module handles a specific aspect of the analysis, processing data independently and passing results to the next stage. This segmentation reduces overall system complexity while maintaining comprehensive data analysis for accurate benchmark conversion rates.
Data Source
AI summary
Provided herein are systems, methods and computer readable media for setting a benchmark conversion rate. An example method comprises accessing user search data, the user search data generated by a user interacting with a promotion and marketing service to identify a requested promotion, generating an identification pair for the search data, the identification pair comprising an identification of a promotion tuple and a geographic subdivision, generating a search velocity based on the generated identification pairs, accessing a conversion rate for the promotion tuple in a plurality of geographic subdivisions and setting a benchmark rate for a promotion tuple, the benchmark rate corresponding to the conversion rate of a subdivision of the plurality of subdivisions based on the subdivision satisfying at least one of a search velocity threshold, a prime merchant metric threshold or a conversion rate threshold.