A system for predicting a conversion rate relating to targeted location events for a test campaign includes one or more campaign databases configured to store campaign parameters of a set of historical campaigns. The system further includes a feature engineering module configured to construct a training feature space corresponding to the set of historical campaigns, and to determine a set of labels including a respective conversion rate for each respective historical campaign of the plurality of historical campaigns. The system further includes a model training module configured to machine train a conversion rate prediction model using the training feature space and the set of labels. The feature engineering module is further configured to construct a set of test features from campaign parameters of the test campaign, and the system further includes a prediction module configured to apply the conversion rate prediction model to the set of test features to obtain a predicted conversion rate for the test campaign.