Applying Real Time Fraud Detection to Increase Lead Generation and Sales
How to practically apply real-time fraud detection to optimize your digital campaigns resulting in an increase in lead generation and digital sales? It’s quite simple:
If your website is your #1 revenue source you want to
● Spend your marketing budget to attract real humans
● See real humans visiting your website
● Encourage real humans to fill out your lead generation forms
● Convince real humans to buy your products
● Get rid of all bots, fraudsters and other malicious actors
In order to do this at scale, you have to spend your marketing budget on campaigns attracting real humans! Unfortunately, marketing campaigns also attract bots and other malicious visitors. These should be flagged, ignored and removed. This can be achieved by monitoring the traffic quality for each source in real-time. You have to continuously update the state of the traffic quality per source and if the quality goes below some quality threshold you should spend less, or even stop any further traffic coming from this source. In the latter case you should manually inspect what is going on.
The approach to increase/decrease the amount of traffic bought per source based on their quality enables you to re-allocate your budget more efficiently. This LinkedIn pulse article I wrote a while ago ( https://lnkd.in/eRNVM5wj ) describes the process and shows what difference it makes (Spoiler alert: It differs an awful lot!). The article compares two budget re-allocation models against the vanilla model (model 1)
● Model 1: NO budget rebalancing, NO fraud detection
● Model 2: Budget rebalancing, NO fraud detection (+8% more efficient than model 1)
● Model 3: Budget rebalancing, and fraud detection (+49% more efficient than model 1)
It is based on one of our client’s real campaign data at high volume (>8 million clicks, finance/ insurance) during over an eight month period. It reveals the true business value of using Oxford Biochronometrics ' SecureLead fraud detection, the reason is simple: Organized fraud at scale comes in waves, it isn’t randomly distributed. Therefore, if you continuously make the right budget re-allocation choice you reduce the impact of fraud. Over time it will significantly increase the outcome of your digital campaign(s).
More info? The link to the LinkedIn Pulse article containing all the steps and details, is: https://lnkd.in/eRNVM5wj
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