METHOD OF CORRELATING BID PRICE TO INTRINSIC VALUE IN A SURVEY PLATFORM
An online survey platform and process for correlating the bid price offered by a supplier for the completion of an out-of-network survey hosted on the survey platform to one or more intrinsic value indicators of the survey. If the supplier's bid price is less than or equal to the survey budget price set by the buyer, then the routing platform of the present invention will route the supplier's respondent(s) to the survey.
1 . (canceled)
2 . A method of dynamic price matching comprising:
receiving a routed pricing grid for a plurality of online surveys, wherein each online survey of the plurality of online surveys includes at least one demographic question and at least one targeted question, and wherein pricing for completion of the online surveys is based in part on at least one value indicator;
receiving a budget and at least one value range for the at least one value indicator for each online survey of the plurality of online surveys;
generating a price-matched group of online surveys for a survey respondent who has been terminated from a first online survey, wherein the price-matched group of online surveys is generated from:
determining a routed complete price for each online survey based on the value range for the at least one value indicator for the online survey and the routed pricing grid; and
identifying one or more online surveys with a respective routed complete price less than the budget for the online survey;
selecting a particular survey from the price-matched group of online surveys; and
transmitting the particular survey to the survey respondent.
3 . The method of claim 2 , wherein selecting a survey from the group of priced-matched group of online surveys is based on load traffic for a survey repository database from a set of survey repository databases.
4 . The method of claim 2 , wherein the value indicator is at least one of a conversion percentage, an incidence percentage, or a length of interview.
5 . The method of claim 4 , wherein the conversion percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question and the at least one targeted question, wherein the incident percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question, and wherein the length of interview is an amount of time a particular survey respondent takes to complete a particular survey.
6 . The method of claim 4 , wherein the routed complete price is based on a combination of a value range for the length of interview and a value range for the conversion percentage.
7 . The method of claim 2 , wherein the survey respondent is terminated from the first online survey based on a response to a demographic question of the first online survey.
8 . The method of claim 2 , wherein the survey respondent is terminated from the first online survey based on a response to a targeted question of the first online survey.
9 . The method of claim 2 , further comprising:
receiving a measurement for a value indicator property as the survey respondent answers the survey;
calculating a value for the value indicator property based on the measurement; and
recalculating the value for the value indicator property on a periodic basis based on receiving a new measurement.
10 . A system for dynamic price matching, the system comprising:
at least one processor;
memory coupled to the at least one processor, the memory configured to store instructions that, when executed by the processor, cause the at least one processor to execute operations, the operations comprising:
receiving, at a router platform, a routed pricing grid for a plurality of online surveys, wherein each online survey of the plurality of online surveys includes at least one demographic question and at least one targeted question, and wherein pricing for completion of the online surveys is based in part on at least one value indicator;
receiving, from each buyer, at the router platform, a budget and at least one value range for the at least one value indicator for each online survey of the plurality of online surveys;
generating a price-matched group of online surveys for a survey respondent who has been terminated from a first online survey, wherein the price-matched group of online surveys is generated from:
determining a routed complete price for each online survey based on the value range for the at least one value indicator for the online survey and the routed pricing grid; and
identifying one or more online surveys with a respective routed complete price less than the budget for the online survey;
selecting a particular survey from the price-matched group of online surveys; and
transmitting the particular survey to the survey respondent.
11 . The system of claim 10 , wherein selecting a survey from the group of priced-matched group of online surveys is based on load traffic for a survey repository database from a set of survey repository databases.
12 . The system of claim 10 , wherein the value indicator is at least one of a conversion percentage, an incidence percentage, or a length of interview.
13 . The system of claim 12 , wherein the conversion percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question and the at least one targeted question, wherein the incident percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question, and wherein the length of interview is an amount of time a particular survey respondent takes to complete a particular survey.
14 . The system of claim 12 , wherein the routed complete price is based on a combination of a value range for the length of interview and a value range for the conversion percentage.
15 . The system of claim 10 , wherein the survey respondent is terminated from the first online survey based on a response to a demographic question of the first online survey.
16 . A non-transitory computer-readable storage medium with instructions stored thereon that, when executed by at least one processor, cause the at least one processor to execute operations, the operations comprising:
receiving, at a router platform, a routed pricing grid for a plurality of online surveys, wherein each online survey of the plurality of online surveys includes at least one demographic question and at least one targeted question, and wherein pricing for completion of the online surveys is based in part on at least one value indicator;
receiving, from each buyer, at the router platform, a budget and at least one value range for the at least one value indicator for each online survey of the plurality of online surveys;
generating a price-matched group of online surveys for a survey respondent who has been terminated from a first online survey, wherein the price-matched group of online surveys is generated from:
determining a routed complete price for each online survey based on the value range for the at least one value indicator for the online survey and the routed pricing grid; and
identifying one or more online surveys with a respective routed complete price less than the budget for the online survey;
selecting a particular survey from the price-matched group of online surveys; and
transmitting the particular survey to the survey respondent.
17 . The non-transitory computer-readable storage medium of claim 16 , the operations further comprising:
receiving a measurement for a value indicator property as the survey respondent answers the survey;
calculating a value for the value indicator property based on the measurement; and
recalculating the value for the value indicator property on a periodic basis based on receiving a new measurement.
18 . The non-transitory computer-readable storage medium of claim 16 , wherein selecting a survey from the group of priced-matched group of online surveys is based on load traffic for a survey repository database from a set of survey repository databases.
19 . The non-transitory computer-readable storage medium of claim 16 , wherein the value indicator is at least one of a conversion percentage, an incidence percentage, or a length of interview.
20 . The non-transitory computer-readable storage medium of claim 19 , wherein the conversion percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question and the at least one targeted question, wherein the incident percentage is the percentage of a number of completed surveys divided by an amount of survey respondents passing each of the at least one demographic question, and wherein the length of interview is an amount of time a particular survey respondent takes to complete a particular survey.
21 . The non-transitory computer-readable storage medium of claim 19 , wherein the routed complete price is based on a combination of a value range for the length of interview and a value range for the conversion percentage.