To help fuel growth and increase their market share, SmartFinancial invested heavily in digital advertising. Lev Barinskiy, SmartFinancial’s founder and CEO, noted that the company was a “broad digital advertiser.” They put ads on different platforms and search engines to drive traffic and leads for their primary website.
However, SmartFinancial quickly noticed a problem with ad fraud and ad quality issues when they deployed their marketing dollars at scale. Even before doing a deep dive into their own analytics, they quickly came to realize that they were suffering from a significant amount of ad fraud.
Once they realized that fraud was prevalent, SmartFinancial tried out several solutions to deal with it. Despite being a tech company, they weren’t in the business of identifying fraud. They had no idea the lengths people would go to in order to commit fraud.
Being so used to dealing with massive data sets helped SmartFinancial identify fraud. Using aggregate data, they could plainly see that certain marketing channels were of varying quality and value. However, even with an in-house solution, they had difficulty finding and stopping fraud in real-time.
As Lev Barinskiy said, “You have to partner with companies that focus on that part of the business and stay two steps ahead. You need focus and domain expertise, and we were not in that space.” Focusing on fighting fraud with internally developed and maintained solutions was proving to be a burden that detracted from the resources they needed to drive their insurance business.
So, they began to search for third-party solutions that could help alleviate the strain.
“You have to partner with companies that focus on that part of the business and stay two steps ahead." - Lev Barinskiy