Predicting online purchase conversion for retargeting

Jinyoung Yeo, Sungchul Kim, Eunyee Koh, Seungwon Hwang, Nedim Lipka

Research output: Chapter in Book/Report/Conference proceedingConference contribution

9 Citations (Scopus)

Abstract

Generally 2% of shoppers make a purchase on the first visit to an online store while the other 98% enjoys only window-shopping. To bring people back to the store and close the deal, "retargeting" has been a vital online advertising strategy that leads to "conversion" of window-shoppers into buyers. As such retargeting is more effective as a focused tool, in this paper, we study the problem of identifying a conversion rate for a given product and its current customers, which is an important analytics metric for retargeting process. Compared to existing approaches using either of customeror product-level conversion pattern, we propose a joint modeling of both level patterns based on the well-studied buying decision process. To evaluate the effectiveness of our method, we perform extensive experiments on the simulated dataset generated based on a set of real-world web logs. The evaluation results show that conversion predictions by our approach are consistently more accurate and robust than those by existing baselines in dynamic market environment.

Original languageEnglish
Title of host publicationWSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining
PublisherAssociation for Computing Machinery, Inc
Pages591-600
Number of pages10
ISBN (Electronic)9781450346757
DOIs
Publication statusPublished - 2017 Feb 2
Event10th ACM International Conference on Web Search and Data Mining, WSDM 2017 - Cambridge, United Kingdom
Duration: 2017 Feb 62017 Feb 10

Publication series

NameWSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining

Other

Other10th ACM International Conference on Web Search and Data Mining, WSDM 2017
CountryUnited Kingdom
CityCambridge
Period17/2/617/2/10

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Marketing
Experiments

All Science Journal Classification (ASJC) codes

  • Computer Science Applications
  • Information Systems
  • Computer Networks and Communications
  • Software

Cite this

Yeo, J., Kim, S., Koh, E., Hwang, S., & Lipka, N. (2017). Predicting online purchase conversion for retargeting. In WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining (pp. 591-600). (WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining). Association for Computing Machinery, Inc. https://doi.org/10.1145/3018661.3018715
Yeo, Jinyoung ; Kim, Sungchul ; Koh, Eunyee ; Hwang, Seungwon ; Lipka, Nedim. / Predicting online purchase conversion for retargeting. WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining. Association for Computing Machinery, Inc, 2017. pp. 591-600 (WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining).
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Yeo, J, Kim, S, Koh, E, Hwang, S & Lipka, N 2017, Predicting online purchase conversion for retargeting. in WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining. WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining, Association for Computing Machinery, Inc, pp. 591-600, 10th ACM International Conference on Web Search and Data Mining, WSDM 2017, Cambridge, United Kingdom, 17/2/6. https://doi.org/10.1145/3018661.3018715

Predicting online purchase conversion for retargeting. / Yeo, Jinyoung; Kim, Sungchul; Koh, Eunyee; Hwang, Seungwon; Lipka, Nedim.

WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining. Association for Computing Machinery, Inc, 2017. p. 591-600 (WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining).

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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Yeo J, Kim S, Koh E, Hwang S, Lipka N. Predicting online purchase conversion for retargeting. In WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining. Association for Computing Machinery, Inc. 2017. p. 591-600. (WSDM 2017 - Proceedings of the 10th ACM International Conference on Web Search and Data Mining). https://doi.org/10.1145/3018661.3018715