TrueCar has been granted a patent for a vehicle sales matching system. The system includes a database for vehicle sales lead data and vehicle sales information, and a sales matching system that applies matching rules to match a vehicle sales lead with a vehicle sale. The system also validates customer data, tracks user activities, and generates an output linking the website visitor with the vehicle sale. GlobalData’s report on TrueCar gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on TrueCar, Dynamic premium pricing was a key innovation area identified from patents. TrueCar's grant share as of September 2023 was 56%. Grant share is based on the ratio of number of grants to total number of patents.
Method for matching vehicle sales leads to sales data
A recently granted patent (Publication Number: US11741512B2) describes a method and system for generating customer leads and tracking sales transactions on a website. The method involves receiving customer data from a website visitor and validating it to identify fake or invalid information. The validated customer data, along with the visitor's desired product or service, is stored as customer lead data. Based on this data, a dealer affiliated with the website is selected and presented to the visitor.
The system automatically tracks user activities between the visitor and the selected dealer on the website. It also receives sales information, including transaction details from the selected dealer. By comparing the sales information and the tracked user activities, the system determines if a sale by the dealer is associated with the website visitor. If a match is found, an output is generated that links the visitor to the vehicle sale by the dealer.
The patent also includes additional features. Third-party customer data, derived from independent sources such as insurance or financing providers, can be appended to the validated customer data. Tracked user activities include search queries, website navigation, product or service selection, and changes to vehicle configurations. The system generates individual confidence scores representing similarities between the visitor and the buyer of the sale. Cumulative scores of these individual confidence scores are compared, and if they exceed a threshold, the system automatically approves the amount for the website to invoice the selected dealer for the transaction.
In addition to the method, the patent also describes a system and a computer program product that implement the same functionality.
Overall, this patent presents a method and system for efficiently generating customer leads and tracking sales transactions on a website. By validating customer data, tracking user activities, and matching sales information, the system can accurately link website visitors with specific vehicle sales. The inclusion of third-party customer data and the use of confidence scores further enhance the accuracy and effectiveness of the system.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
