Calculating the pandemic eating away at the bottom line in the finance industry

07 June 2023


TrafficGuard specialises in detecting and preventing invalid traffic and ad fraud in the digital advertising industry by offering a solution that helps businesses, advertisers and publishers identify and eliminate non-human or fraudulent traffic...

When it comes to the finance industry and digital ad spending, the dollars involved makes the industry an incredibly attractive target for fraudsters, competitors and bots who attack online spend for their own advantage.

According to an Insider Intelligence article ‘Banking will account for 42.2% of the $32.09 billion spend on financial services digital advertising’ in the US in 2022. Digital advertising is one of the most effective ways for businesses of all sizes and sectors to reach their customers, but it is also one of the most prone to fraud, costing companies billions globally.

Global ad fraud is now a US$127bn problem and affects businesses in every sector across Australia, from a two-person start-up to a 20,000 employee multinational. No online business is immune.

Finance sector to take a stand

Mathew Ratty, Co-founder and CEO of the Australian founded business TrafficGuard, says “Considering the enormous impact of ad fraud and invalid traffic, the banking finance industry is gloriously attractive and a sitting duck for bad actors looking to take advantage wherever possible. We know that across the board, businesses are losing, on average, 15-20 percent of their budget to sophisticated online scams.”

TrafficGuard recently commenced working with NOW Finance in combating the issues at hand.

Andrew Coyne, Search & Performance Marketing Manager at NOW Finance stated “We are always looking for ways to improve our CPA, and wanted to see if a reduction of fraudulent clicks would help do that. TrafficGuard are uniquely placed to help us with this problem and have helped us eliminate budget wastage, which has enabled us to make our paid campaigns more efficient, and really help us reach that next level of growth.”

The clicks are getting faker

It’s important that the finance sector advertisers are aware that up to one fifth of clicks on ads/campaigns can be fake. Click fraud is so attractive to bad actors due purely to the sheer amounts of money to be made. Click fraud is one of the most common forms of ad fraud enacted against PPC campaigns through the use of bots, clicks farms or false websites and, as well as decreasing ROAS and increasing CAC which often leads to a false sense of success because marketeers are seeing an inflated number of clicks and think it’s due to running a successful campaign.

Not all ad fraud software is up to scratch

It’s important that businesses thoroughly understand exactly what detection software is available and measure the offerings accordingly.

To provide more context on how our solution is different from others, one of the key benefits of TrafficGuard is the level of granularity and transparency from our real-time reporting and analytics and more importantly, we are analysing the entire user journey and making a decision on whether that particular journey based on over 200 signals is associated with fraud. By employing advanced machine-learning (ML) algorithms and big data analytics, we can analyse vast amounts of data in real-time, identify unusual patterns and anomalies, and distinguish between human and non-human traffic.

Industry first launch

To help businesses understand the impact of ad fraud and invalid traffic on their budgets, TrafficGuard has developed an industry first calculator which uncovers the scale of the problem for every type of business, from ecommerce-focused SMEs to enterprise level companies with seven-figure marketing spends.

The unique calculator is an invaluable first step in uncovering the scale of the problem. Based on their legacy data, the calculator has just four simple steps and can be completed in seconds. The calculator asks for the major digital marketing channels a business uses, its industry, region and monthly spend in order to provide a highly accurate estimate of how much of that money could potentially be being wasted.

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