BMG Money increases qualified leads by 42% and cuts cost per lead by 51%
Find out how SegmentStream helped BMG Money make informed budget allocation decisions, driving more quality leads at a lower cost.
“SegmentStream is an essential tool for any performance marketing team.”— Jose Patino, Vice President of Business Development
About the client
BMG Money is a US financial services company that offers loans based not on credit score, but on employment information or retirement status. The company has programs for federal and military retirees and active federal workers and operates across 42 states.
BMG Money partnered with SegmentStream to solve the core challenge — accurate attribution & ROAS measurement.
The company was struggling to understand the value of its upper-funnel activities, such as Facebook and Google Ads prospecting campaigns. Despite exploring various attribution solutions, they were unable to get a fair overview and allocate the budget effectively. Even First Click attribution was not giving upper-funnel activities the proper credit.
The primary reason is complex, cross-device customer journeys paired with modern-day cookie tracking restrictions.
Because of these technological challenges, deterministic user tracking becomes impossible, which prevents traditional attribution platforms from observing the real, complete customer journey. This, in turn, makes both first-click and last-click models heavily biased towards lower-funnel marketing campaigns, while top-of-the-funnel investment doesn’t get the credit it deserves.
To solve this problem, and achieve accurate ROI reporting, BMG Money partnered with SegmentStream.
SegmentStream — solution overview:
SegmentStream is a next-generation marketing mix optimization platform that helps analyze and optimize digital marketing performance in a modern, cookieless world.
The platform combines proprietary machine learning models and clients’ unique first-party data to understand the true contribution of each marketing channel and campaign to total conversions and revenue. Unlike traditional attribution tools, SegmentStream can measure incremental value, even if direct conversion attribution is not possible due to multiple tracking restrictions.
As a result of the implementation, SegmentStream has provided BMG Money with a detailed overview of campaign performance, including insights about the true ROAS of each marketing traffic source. This helped BMG Money understand how different channels and campaigns truly contribute to the total number of qualified leads.
With these insights at hand, the BMG Money team was able to optimize its marketing mix by reallocating the budget among its various channels and campaigns.
As a result, BMG Money saw improvement in marketing ROI across the whole Marketing Mix. Since SegmentStream was implemented, BMG Money has observed a +42% increase in qualified leads, with 51% lower Cost per Lead.
Acquiring customers in the financial services sector is particularly challenging due to high cost per click, long and complex user journeys, and a low number of conversions compared to e-commerce websites. These industry-specific issues result in several difficulties with marketing measurement and ad optimisation, as we have encountered.
Fortunately, we discovered SegmentStream, which has helped us to make more informed budget allocation decisions with increased confidence.
As a result, we were able to greatly increase the number of new leads while lowering the cost per lead. Therefore, I strongly believe that SegmentStream is an essential tool for any performance marketing team.
— Jose Patino, Vice President of Business Development
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