Location-based bid modifiers
Systems and methods for determining location-based bid modifier suggestions include determining a content placement cost based in part on a likelihood of a user that has entered a physical establishment completing a transaction, an average transaction amount for the establishment, and an expected return on investment (ROI). A location-based bid modifier may be determined using the computed cost and a base bid amount. In some implementations, the location-based bid modifier may also be based on a probability model that models the probability of the user visiting the establishment.
1. A system for dynamic location-based selection of online content, comprising:
a server comprising one or more processors and memory;
a content selection service executed by the server to:
identify, based on data received from location hardware configured on a client device, a location of the client device;
determine, based on the location of the client device input into a function configured to output a minimum probability of a visit to a physical establishment responsive to input comprising a maximum travel value for the physical establishment, a probability that the client device visits the physical establishment;
generate, responsive to a request for content received via the client device, an auction bid modifier based on a first product of the probability that the client device visits the physical establishment and an average transaction amount for the physical establishment divided by a second product of an expected return on investment for one or more transactions made at the physical establishment that resulted from placement of third-party content and a base bid amount established by a content provider;
select, via a content auction in response to the request for content, an online content item for the physical establishment based on the auction bid modifier; and
provide, via a network, the online content item selected based on the auction bid modifier to the client device to cause the client device to render the online content item selected based on the auction bid modifier on a display device.
2. The system of claim 1 , comprising the content selection service configured to:
retrieve, from one or more databases stored in memory, a likelihood of a visit to a physical establishment resulting in a completed transaction at the physical establishment;
retrieve, from the one or more databases stored in memory, the average transaction amount for the physical establishment;
retrieve, from the one or more databases stored in memory, the expected return on investment (ROI), the expected ROI based on a cost associated with the placement of the third-party content;
receive the maximum travel value associated with the physical establishment;
model the probability of the visit to the physical establishment based on the received maximum travel value for the physical establishment, wherein the probability of the visit to the physical establishment comprises a decay function having the minimum probability at the maximum travel value.
3. The system of claim 1 , comprising the content selection service configured to:
determine, based on the location of the client device, a travel value for the physical establishment that indicates a spatio-temporal relationship between the location of the client device and the physical establishment of a third-party content provider.
4. The system of claim 3 , wherein the travel value comprises at least one of:
a radius around the physical establishment;
a travel time to the physical establishment; or
a distance along a path to the physical establishment.
5. The system of claim 1 , comprising the content selection service configured to:
generate the auction bid modifier based on the probability of the visit to the physical establishment, a maximum travel value set by the content provider, a travel value that indicates a spatio-temporal relationship between the location of the client device and the physical establishment of a third-party content provider.
6. The system of claim 1 , wherein the function comprises an exponential decay function.
7. The system of claim 1 , comprising the content selection service configured to:
compute the function comprising a discrete exponential decay function to model the probability of the visit to the physical establishment, wherein the auction bid modifier is determined as a discrete function of a travel value for the physical establishment, the travel value indicating a spatio-temporal relationship between the location of the client device and the physical establishment.
8. The system of claim 1 , comprising the content selection service configured to:
determine the location of the client device using location information relayed via an application programming interface of a navigation program executed by the client device.
9. The system of claim 1 , comprising the content selection service configured to:
generate the auction bid modifier as a percentage increase to the base bid amount.
10. The system of claim 1 , comprising the content selection service configured to:
determine that a travel value indicating a spatio-temporal relationship between the location of the client device and the physical establishment satisfies a predefined range;
responsive to the determination that the travel value satisfies the predefined range, control the content auction to bid on the online content item.
11. The system of claim 1 , wherein the physical establishment is a first physical establishment, and wherein the content selection service configured to:
identify a second physical establishment within a travel range defined by the maximum travel value for the first physical establishment;
determine that a second location is closer to the first physical establishment than the second physical establishment; and
associate the second location with the first physical establishment.
12. A method of dynamically performing location-based selection of online content, comprising:
identifying, by a content selection service executed by one or more processors of a server, based on data received from location hardware configured on a client device, a location of the client device;
determining, by the content selection service, based on the location of the client device input into a function configured to output a minimum probability of a visit to a physical establishment responsive to input comprising a maximum travel value for the physical establishment, a probability that the client device visits the physical establishment;
generating, by the content selection service, responsive to a request for content received via the client device, an auction bid modifier based on a first product of the probability that the client device visits the physical establishment and an average transaction amount for the physical establishment divided by a second product of an expected return on investment for one or more transactions made at the physical establishment that resulted from placement of third-party content and a base bid amount established by a content provider;
selecting, by the content selection service via a real-time content auction in response to the request for content, an online content item for the physical establishment based on the auction bid modifier; and
providing, by the content selection service, via a network, the online content item selected based on the auction bid modifier to the client device to cause the client device to render the online content item selected based on the auction bid modifier on a display device.
13. The method of claim 12 , comprising:
retrieving, by the content selection service from one or more databases stored in memory, a likelihood of a visit to a physical establishment resulting in a completed transaction at the physical establishment;
retrieving, by the content selection service from the one or more databases stored in memory, the average transaction amount for the physical establishment;
retrieving, by the content selection service from the one or more databases stored in memory, the expected return on investment (ROI), the expected ROI based on a cost associated with the placement of the third-party content;
receiving, by the content selection service, the maximum travel value associated with the physical establishment;
modeling, by the content selection service, the probability of the visit to the physical establishment based on the received maximum travel value for the physical establishment, wherein the probability of the visit to the physical establishment comprises a decay function having the minimum probability at the maximum travel value.
14. The method of claim 12 , comprising:
determining, by the content selection service based on the location of the client device, a travel value for the physical establishment that indicates a spatio-temporal relationship between the location of the client device and the physical establishment of a third-party content provider.
15. The method of claim 14 , wherein the travel value comprises at least one of:
a radius around the physical establishment;
a travel time to the physical establishment; or
a distance along a path to the physical establishment.
16. The method of claim 12 , comprising:
generating, by the content selection service, the auction bid modifier based on the probability of the visit to the physical establishment, a maximum travel value set by the content provider, a travel value that indicates a spatio-temporal relationship between the location of the client device and the physical establishment of a third-party content provider.
17. The method of claim 12 , wherein the function comprises an exponential decay function.
18. The method of claim 12 , comprising:
computing, by the content selection service, the function comprising a discrete exponential decay function to model the probability of the visit to the physical establishment, wherein the auction bid modifier is determined as a discrete function of a travel value for the physical establishment, the travel value indicating a spatio-temporal relationship between the location of the client device and the physical establishment.
19. The method of claim 12 , comprising:
determining, by the content selection service, the location of the client device using location information relayed via an application programming interface of a navigation program executed by the client device.
20. The method of claim 12 , comprising:
determining, by the content selection service, that a travel value indicating a spatio-temporal relationship between the location of the client device and the physical establishment satisfies a predefined range;
responsive to determining that the travel value satisfies the predefined range, controlling, by the content selection service, the real-time content auction to bid on the online content item.