18522116. SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA simplified abstract (Capital One Services, LLC)
Contents
- 1 SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Unanswered Questions
- 1.11 Original Abstract Submitted
SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA
Organization Name
Inventor(s)
Luke A. Hammock of Washington DC (US)
Janusz Michael Niczyporuk of Vienna VA (US)
SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA - A simplified explanation of the abstract
This abstract first appeared for US patent application 18522116 titled 'SYSTEM AND METHOD FOR PROVIDING ADVERTISER AUCTIONS BASED ON SEGMENTATION INFORMED BY PURCHASE DATA
Simplified Explanation
The abstract describes a system and method for advertiser auctions based on segmentation informed by purchase data, utilizing a financial institution, advertisers, and a bidding server. It also involves pooling customer and transaction information in databases and allowing advertisers to bid on access to information or the ability to present advertisements to customers.
- Financial institution involvement in advertiser auctions
- Utilizing purchase data for segmentation in advertiser bidding
- Pooling customer and transaction information in databases
- Advertisers bidding on access to information or presenting advertisements to customers
Potential Applications
This technology could be applied in digital marketing, targeted advertising, and customer relationship management systems.
Problems Solved
This technology helps advertisers target their audience more effectively, leading to higher conversion rates and better return on investment.
Benefits
The system allows for more personalized and relevant advertisements for customers, potentially increasing engagement and sales for advertisers.
Potential Commercial Applications
Potential commercial applications include online advertising platforms, marketing agencies, and e-commerce websites.
Possible Prior Art
One possible prior art could be the use of customer segmentation in advertising, but the specific combination of financial institution data, advertiser auctions, and customer information pooling may be novel.
Unanswered Questions
How does the system ensure customer privacy and data security?
The article does not provide details on the measures taken to protect customer information and ensure compliance with data privacy regulations.
What criteria are used to determine the winning bid in the advertiser auctions?
The article does not specify the factors or algorithms used to determine the winning bid in the auctions.
Original Abstract Submitted
A system and method in accordance with exemplary embodiments may include advertiser auctions based on segmentation informed by purchase data, including a financial institution, one or more advertisers, and a bidding server to facilitate advertiser bidding. Additionally, a system and method in accordance with exemplary embodiments may pool customer and/or transaction information in one or more databases. The system and method in accordance with exemplary embodiments may also utilize a bidding server to permit advertisers to bid on access to information or the ability to present an advertisement and/or offer to a customer.
