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Case study · Financial media & funding · United Kingdom

TMT Finance: fix the funnel first, then relaunch the ads.

TMT Finance is a UK financial media and funding company. When they came to us, $4,200 of ad spend had produced two conversions; we fixed the application funnel with product analytics and UX work before relaunching Google Ads, and cost per lead fell 97%.

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3D illustration of TMT Finance's application flow as a staircase of form steps: a broken step is inspected and fixed, leads climb to the top, and the conversions bar rises from 2 to 155 a month (cost per lead −97%).
−97%
cost per lead
$2,140 → $48.74
Cost per lead, late 2023 → early 2026
2 → 155
Conversions a month

TMT FinanceFinancial media & funding, United Kingdom · 2023 → today · Product analytics · UX · Google Ads

The situation

When TMT Finance approached us, digital acquisition was practically frozen: $4,200 of spend had produced two conversions, users were dropping out of the application flow at critical points, and there was no product data explaining why.

What we did

  1. Resisted the urge to "optimise ads" first. We integrated deep product analytics and mapped the user journey: UX forensics.
  2. Found the bottlenecks: confusing form fields and friction points killing conversion. Redesigned the onboarding flow around that data.
  3. Only then relaunched Google Ads, feeding the new conversion data into smart bidding to find users who navigate the fixed flow.

What moved

Comparing late 2023 to early 2026, cost per lead collapsed 97 percent, from $2,140 to $48.74, and January alone produced 155 conversions where the old funnel had managed two a month.

And since

The measurement partnership continues: 90+ tracked data points across GTM and GA4, Looker Studio dashboards per team, and written documentation of everything tracked.