Ping Post Exchange

The Ping Post Exchange

What is it?

The Ping Post Exchange allows a Lead Prosper user to act as an intermediary between their clients who are lead suppliers and lead buyers.

1. Lead supplier(s) will ping Lead Prosper.
2. Lead Prosper will ping the lead buyer(s) associated with that campaign to get their bids or use dynamic price rules if they are defined.
3. Exclusive Lead: Lead Prosper will return a bid to your lead supplier based on the highest bid received from the lead buyer(s), minus a margin predefined by the Lead Prosper user in the campaign setup.
4. Shared Lead: Lead Prosper will return all the bids from each buyer. The lead supplier can choose which bid(s) they want to sell the lead for.
5. If the lead supplier wants to sell the lead, they can then post the full lead information with the ping_id supplied in the ping response as well as the bid_id(s) if it’s a Shared Lead and Lead Prosper will deliver the lead to the lead buyer(s).

How the bidding process works to determine the highest bidder in a Ping Post Exchange for an Exclusive Lead:

1. When a ping comes in from a lead supplier, Lead Prosper will then ping the lead buyer(s) associated with that campaign.
2. Lead Prosper will gather all the bids the lead buyer(s) return from the pings sent out.
3. Once all bids are collected, the Global Margin will be applied, and if a Margin Override for a specific buyer is turned on, that margin will be applied instead.
4. A Bid Penalty is another option allowed for specific buyers. If this is set up for a specific buyer, the penalty will be applied as well.
5. After both the margin and penalties are applied to each lead buyer(s) bid, Lead Prosper will prioritize those bids from highest to lowest, giving the Lead Prosper user the chance for the highest margin with the least chance of a return (based on the optional applied Bid Penalty).

Example:

As you can see in the bidding example above, Buyer 6 has the highest  Bid After Margin (BAM) + Penalty applied, thus winning the highest bid. The Bid After Margin of $48.75 will be sent back to the lead supplier. If the lead supplier decides to sell the lead, the Lead Prosper user will purchase the lead for $48.75 and it will be sold to Buyer 6 for the raw bid of $75.00, earning the Lead Prosper user a margin of $26.25.

Above: An example ping response sent back to the supplier

Turning on: “Try all buyers until bid-breakeven point” (Exclusive Lead only)

Turning this feature on will attempt to sell the lead up to a breakeven point.

1. Sometimes when posting the full lead to the highest bid, the lead buyer can still fail the lead (validation, dupe checks, other various reasons...).
2. This option will allow you to try the next highest bid based on the BAM + Penalty being applied (see the diagram chart below), as long as the Raw Bid is still greater than or equal to the original Bid After Margin that was originally supplied to your Lead Supplier.
3. This allows the Lead Prosper user to still sell the lead to another lead buyer without a revenue loss to the Lead Prosper user.
4. In the example below, if the lead failed to Buyer 6, the next eligible buyer would be Buyer 3. Buyer 3 is next because their Raw Bid is greater than or equal to the original Bid After Margin ($50.00 >= $48.75) sent back to the lead supplier. Buyer 3’s BAM + Penalty is the second position based on descending order.

5. If for some reason the lead fails to Buyer 3, there are two more eligible buyers based on the Raw Bid(s). Buyer 5 has the next best BAM + Penalty and a Raw Bid of $55.00 which is >= $48.75, the original Bid After Margin, sent to the lead supplier and making them the next eligible buyer.

6. Buyer 1 would up last with the fourth-best BAM + Penalty and a Raw Bid of $50 which is >= $48.75, the original Bid After Margin, sent to the lead supplier.

7. If the lead fails to Buyer 1, we’re out of bids with a breakeven point of $48.75 and Lead Prosper would return an “ERROR” response back to the l ead supplier saying the lead was rejected (example below).

Selling a Shared Lead on the Ping Post Exchange:

1. A Shared Lead on the Ping Post Exchange allows your lead supplier(s) to sell their lead to multiple lead buyers.
2. Lead supplier(s) will receive an API response that includes all the potential bids (seen below):
3. Lead supplier(s) will be able to choose which bid_id(s) they want to sell the lead for by passing through each bid_id as comma-separated-values under the lp_bids parameter when posting the full lead. Note: if there are multiple bids and the lead supplier does not define lp_bids, Lead Prosper will attempt to sell the lead to all lead buyer(s) with an eligible bid.
4. Below you can see three bids were returned in this example ping response: