Calling an External Pricing Service in Real-Time Bidding

Feature Snapshot

Summary:
The External Pricing Service in Real‑Time Bidding is a feature that lets your flow call an external API during each bid “ping” so that the bid price can be determined dynamically using custom logic and data from third‑party or in‑house pricing engines instead of relying solely on built‑in rules‑based pricing.

Key Benefits:

• Integrates external, data‑driven pricing engines into your bidding process
• Enables real‑time, dynamic bid pricing that adapts to current market conditions
• Provides a fallback mechanism ensuring bid continuity if the external service fails

Typical Use Cases:

• Bidding scenarios where proprietary market data or complex algorithms determine bid value
• Environments that require customized pricing logic beyond native LeadConduit settings
• Flows that must safely revert to a preset “Fallback Price” if the API call is unsuccessful

How the External Pricing Service Works in Real‑Time Bidding?

Step‑by‑Step Instructions

1. Arrange Your Integration Template:

   • Contact your Client Success Manager and provide the external API documentation—including sample request and response details—to have ActiveProspect create a reusable Integration Template for your pricing service.

2. Activate Real‑Time Bidding:

   • Ensure that Real‑Time Bidding is active in your flow so that when a “ping” is received, LeadConduit calls the external pricing service.
     Expected Result: Each bid ping dynamically retrieves a price from the external service (or uses the fallback price if necessary).

3. Configure Your Flow Pricing Settings:

   • Open your flow and navigate to the Pricing configuration section.
   • Select the newly created Integration Template from the available pricing options.
     Expected Result: The external pricing option is visible alongside your other pricing methods in the flow settings.

4. Add a “Fallback Price”:

   • In the Pricing configuration, add a fallback value that will be used if the external pricing service cannot be reached.
     Expected Result: A dedicated field for the fallback price appears and is saved in the configuration.

5. Save and Verify the Configuration:

   • Complete and save your pricing configuration.
     Expected Result: The flow now shows the external pricing option with the associated fallback price, confirming the settings have been applied.

Validation & Monitoring (optional)

• Test the Setup:
  • Trigger a test “ping” in your flow and verify that the external API is called and returns a bid price that matches your expectations.
• Where to Monitor?:
  • Check the flow’s pricing configuration screen and review the LeadConduit Events tab to confirm that the external pricing service was invoked during ping processing.

Best Practices

• Always specify a sensible fallback price to ensure uninterrupted bidding when the external API is unavailable.
• Verify that the API documentation and mapping provided to ActiveProspect are accurate and complete.
• Test the integration extensively by submitting test pings at various times to validate both successful and fallback price scenarios.
• Monitor the response times and error messages from the external service to quickly address connectivity or mapping issues.
• Document any changes to your pricing configuration and communicate updates with your team to maintain alignment on the pricing strategy.

Troubleshooting

Frequently Asked Questions (FAQ)

What is the External Pricing Service?

It is a feature that enables your flow to call an external API during Real‑Time Bidding so that each bid price is determined by the custom logic of the external service rather than using default pricing rules.

Why should I use an External Pricing Service instead of built‑in pricing rules?

The External Pricing Service allows integration of sophisticated, custom pricing algorithms and real‑time market data, offering greater flexibility and competitive advantage in dynamically setting bid prices.

How do I set up the External Pricing Service in my flow?

First, work with your Client Success Manager to have an Integration Template created using your API documentation. Then, in your flow’s pricing configuration, select the new template, configure a fallback price, and save the settings. This enables Real‑Time Bidding to call the external service for each ping.

What happens if the external pricing service call fails?

If the external service is unreachable or returns an error, your flow will use the pre‑configured fallback price to ensure a bid is still submitted.

Who can help if I encounter issues with the external pricing integration?

Contact your Client Success Manager for troubleshooting assistance. You may also review the API documentation provided by your external pricing vendor to check parameter settings and response formats.

Glossary