Will Edelman Digital Creator Lead New AI Marketing World?

David Dunne

In Episode #729, Nathan interviews David Dunne. He’s the CEO and co-founder of Velocidi, a marketing intelligence company that harnesses data for leading brands and agencies. In the 7 years since founding Velocidi, it enables marketers to make data-driven decisions that optimize marketing spend. David is currently leading the firm’s next chapter into artificial intelligence.

Famous Five:

  • Favorite Book? – Selling the Invisible
  • What CEO do you follow? – Richard Branson
  • Favorite online tool? — Tidal
  • How many hours of sleep do you get?— 5-6
  • If you could let your 20-year old self, know one thing, what would it be? – “Hurry up, things are changing fast, you have to move faster”

Time Stamped Show Notes:

  • 01:07 – Nathan introduces David to the show
  • 01:41 – Velocidi focuses on how AI can speed up insights
  • 01:48 – Velocidi’s technology has always been enabling the process of analysts driving the insights
  • 02:22 – The analysts are Velocidi’s customers
  • 02:39 – Velocidi is a SaaS business selling licenses
  • 03:01 – Pricing starts at $3K a month
  • 03:23 – Average monthly RPU is around $6K
  • 03:44 – Velocidi charges by the amount of data streams
  • 04:20 – Velocidi uses API calls to bring in the data
  • 04:42 – Velocidi was launched in 2010
  • 05:19 – There are people who are with David in building Velocidi
  • 05:44 – David was a part of a global business
  • 06:11 – David was happy with Edelman, but he wanted to reinvent himself
  • 07:46 – David was 43 when he started Velocidi
  • 09:26 – Every entrepreneur takes risks
  • 09:51 – David has always separated personal assets with work
  • 10:15 – Velocidi was capital intensive for the first few years
  • 10:56 – Velocidi has initially raised $3M from friends and families
  • 11:01 – Velocidi just closed a $12M round
  • 11:18 – David has ambitious plans for growing the business
  • 11:49 – More capital allows you to have more options
  • 12:10 – CAC
  • 12:21 – Most of Velocidi’s customers are large global agencies
  • 12:31 – Velocidi is expanding into other industries
  • 13:45 – LTV to CAC ratio
  • 13:58 – David tries to look at some of the classic businesses for comparison
  • 15:19 – Velocidi focuses on what they can give to customers
  • 16:04 – Velocidi keeps their customers for at least 5 years
  • 16:54 – Some of Velocidi’s customers have thousands of customers and there’s a lot of room to grow
  • 17:39 – Velocidi is innovating their product at a much faster rate
  • 17:55 – The innovations depend on the customer’s’ needs
  • 18:21 – Velocidi is expanding their automated self-serve platform this year
  • 18:40 – Velocidi has hundreds of customers
  • 19:19 – Self-service means different things
  • 20:08 – Analysts have been using excel and powerpoint
  • 20:42 – Velocidi delivers the core-data and the clients tailor the data
  • 21:11 – The quality of the data alongside a creative makes Velocidi’s clients standout
    • 23:01 – David believes that data with creative is a better creative
  • 23:55 – Average MRR
  • 25:36 – David won’t sell Velocidi
  • 26:53 – The Famous Five

3 Key Points:

  1. Entrepreneurs will always take risk—what matters is how big of a risk you’re willing to take.
  2. Focus on what you CAN commit to your customers.
  3. Things change faster than you think; so KEEP moving and don’t get left behind!

Resources Mentioned:

  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • GetLatka – Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Show Notes provided by Mallard Creatives