On November 12 Velocidi was officially awarded the title of Best E-Commerce Technology by the Digiday Technology Awards. This annual competition recognizes the technology driving innovation in advertising and marketing. Tech companies are awarded for case studies that demonstrate innovation, creativity, impact on KPIs, and value for customers.
Best E-commerce Technology was a new category this year. With a global pandemic causing customers to move online, brands were challenged to provide a positive digital shopping experience in all stages of the funnel. The finalists in this award category represented a wide array of different technologies. Vertebrae, for example, is an AR platform for brands to give customers a virtual way to ‘try on’ products or see how they look in 3D. And KERV Interactive makes interactive video content.
Velocidi’s entry into the competition this year was our case study with Figleaves. Figleaves is a fashion apparel company based in the UK. Using Velocidi’s automated audience segments to capture the best targets for their campaigns, Figleaves improved campaign ROI by 216%, average order value by 12%, and cost per acquisition by 64%.
As Digiday points out in their winners announcement, “Fashion is deeply personal — which means that automating fashion-related targeting is a tough proposition for brands and marketers to follow.” Part of what makes Velocidi’s solution work so well is the fact that it can complement an existing personalization strategy. When brand marketers already have a deep intuitive understanding of their customers, it’s just a matter of getting their audience segmentation on the same level. Velocidi makes that easy by automating audience segmentation according to customer journey stages, RFM scores, and more.
Velocidi was also a finalist for Best Customer Data Platform this year, which we won in 2019. This year that title went to Klaviyo. With us among the finalists were Amperity, Blueconic, and Contobox.
This year Velocidi was also in the finals for the I-COM Data Startup Challenge, which likewise announced its winners on November 12. The I-COM Data Startup Challenge is a competition for startups worldwide who draw value from data in the marketing and advertising ecosystem.
Velocidi was selected as one of five finalists to pitch our solution to a panel of judges during I-COM’s virtual conference. On pitch day, we were thrilled to win the Audience Award for our presentation. The competition was very close, and in the end, the grand prize went to Karlsgate, an up-and-coming customer identity solution for the new privacy-focused marketing world.