Algolia Wins “Best Overall Conversion Optimization Solution” in the 2022 MarTech Breakthrough Awards Program
Leading market intelligence organization recognizes Algolia alongside Google Analytics, Cvent, Adobe, Hubspot and other marketing innovators
August 23, 2022 at 12:00 AM Coordinated Universal Time
San Francisco – August 23, 2022 – Algolia, the leading API Platform for Search & Discovery, today announced that it has been selected as the winner of the Best Overall Conversion Optimization Solution award in the 5th 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. In receiving this award, Algolia is recognized for its commitment to empowering companies to modernize their search capabilities, revamp the customer journey and optimize conversion rates.
“The Algolia team is delighted to be selected as the winner of MarTech Breakthrough’s Best Overall Conversion Optimization Solution,” said Bernadette Nixon, chief executive officer of Algolia. “This accolade is a great testament to our commitment to driving unparalleled search and discovery innovation that simultaneously creates a better experience for a retailer’s customer base, as well as the developers and merchandisers that operate behind-the-scenes.”
According to Algolia’s latest State of Search report, 87% of retailers with only basic or intermediate search experiences noted a higher propensity to lose shoppers through churn and poor engagement. Although the majority of retailers have not adopted advanced search technologies, most large retail organizations recognize the power of searchThe report finds that when asked to identify the top areas impacted by search, retailers prioritized customer service (79%) and frictionless experience on the website (76%), followed by product availability (75%). Furthermore, Forrester Research conducted a Total Economic Impact study that examines the total ROI enterprises may realize when deploying Algolia’s Search & Discovery platform. The study uncovers that the Algolia platform can dramatically boost ROI for retailers and the search experience for consumers. Specifically, the study found that Algolia’s platform can deliver a 382% ROI, its ranking algorithm improved the relevance of search results with measured increases of 40% to 50% and its dynamic re-ranking functionality measured a 10% increase in conversions.
Nixon added, “Leveraging advanced search technology is critical to bolstering customer experience. If consumers can’t easily and quickly find what they want on a website, they won’t hesitate to move on to a competitor’s page. Many online retailers are realizing this hard truth and increasing their investment in modern digital commerce solutions. As this trend continues, Algolia looks forward to helping even more retailers boost ROI with amazing browse experiences and high-speed search.”
The mission of the MarTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of marketing, sales, and advertising technology-related 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 2,950 nominations from over 18 different countries throughout the world.
Algolia is an API-First Search and Discovery platform that empowers builders to compose experiences at Internet scale to predict what customers want with blazing fast search and the best application browse experience leading to more remarkable Discovery. More than 12,500 companies including Under Armour, Birchbox, Stripe, Slack, Medium, and Zendesk rely on Algolia to manage over 1.5 trillion search queries a year. Algolia is headquartered in San Francisco with offices in New York, Atlanta, Austin, Paris, London, and Bucharest. To learn more, visit www.algolia.com.
About MarTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MarTech Breakthrough Awards program is devoted to honoring excellence in marketing, ad and sales technology companies, products and people. The MarTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough marketing technology companies and products in categories including marketing automation, AdTech, SalesTech, marketing analytics, CRM, content and social marketing, website, SEM, mobile marketing and more. For more information, visit MarTechBreakthrough.com. https://martechbreakthrough.com/2022-winners/