Rokt recognized for innovation in AI with 2020 MarTech Breakthrough Award
Rokt has been selected as the winner of the “Best Use of AI in MarTech” award in the third annual MarTech Breakthrough Awards program conducted by MarTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global marketing, sales and advertising technology industry today.
Rokt’s advanced machine learning technology enables users to deliver the next best action and experience for each customer in the Transaction Moment™.
The Rokt algorithms analyze over 1 billion transactions per year, getting smarter with each customer interaction. Clients can then optimize and personalize their offers in real-time as the AI manages the tradeoffs between objectives, choosing the offers that will drive the most value per transaction.
Customers receive the offers with which they are likely to engage, and companies forge deeper relationships with their clients, acquire new buyers, and generate new revenue opportunities.
“We are constantly looking to improve the accuracy of our models through the addition of new features from internal and third-party sources,” said Rokt CEO, Bruce Buchanan. “Our machine learning takes features into account to predict and deliver the most value to both our clients and their customers. This technology allows non-tech savvy teams the ability to utilize advanced machine learning algorithms, analyze results, and make simple updates to optimize their campaign success. It ensures customers are receiving relevant offers, and a personalized experience, and that companies are not wasting marketing spend by showing offers to users unlikely to convert.”
Rokt’s Machine Learning includes 12 unique proprietary models that cover both classification problems, where the outcome is yes or no, and regression problems, where the outcome has a continuous value.
Multiple data inputs are collected to understand each customer on an individual level so AI can determine their most relevant offer and experience.
These data points include customer data such as age, gender, device, and more, as well as transaction data and interaction data. Customization features include placements, design, messaging, creative, offer position, and more.
The mission of the MarTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of categories, including marketing automation, market research and customer experience, AdTech, SalesTech, marketing analytics, content and social marketing, mobile marketing and many more. This year’s program attracted more than 2,750 nominations from over 15 different countries throughout the world.
“Customers expect personalized and relevant experiences when they shop online. Rokt’s AI brings them this customized experience,” said James Johnson, Managing Director at MarTech Breakthrough. “Rokt certainly breaks through the MarTech space with their advanced machine learning technology, which has been used across more than 4 billion ecommerce transactions to date, and we want to congratulate them on winning our ‘Best Use of AI in MarTech’ award for 2020.”