Unleashing the Power of AI: How SessionStack helps CEE businesses grow
Bulgarian startup SessionStack, which uses machine learning (ML) and artificial intelligence (AI) to transform digital experience data into actionable insights to drive conversions, is ready to expand to CEE after a successful pilot with hand-picked high-traffic e-commerce businesses. Businesses show clear advances in proactive conversion optimization, revenue protection through fraud detection, enhanced checkout experience, and data-driven traffic channel optimization.
“I love working with SessionStackAI because the team cares for our brand as if it were their own. I always look forward to our weekly meetings to get more ‘nuggets of gold’ as I call them – invaluable insights about issues with the customer journey on our website,“ says Dimitar Giulev, Co-owner of Cocosolis, a leading brand for natural and organic cosmetics.
SessionStack brings new value and insights
According to ECDB, Europe’s e-commerce penetration is yet to catch up with the pace of Asia and the Americas. Yet, there is a forecast of a steady 12% accumulated growth rate, reflecting the e-commerce revenue development in Europe – from $822 billion in 2023 to $1,142 billion in 2026. Central and South Eastern Europe show room for growth and further penetration of e-commerce at around 60% as they slightly lag behind most of Western Europe at more than 80% penetration.
SessionStack pioneers this space through its AI-enhanced analytics platform, demonstrating significant value for e-commerce businesses across various fronts. Some of the findings during the pilot stage revealed:
- Capturing purchase intent and enabling new market opportunities – Through behavioral and site search analysis, SessionStackAI identified a gap in the client’s product offerings. By recognizing the high purchase intent of loyal customers through site searches, SessionStackAI provided valuable insights that prompted the client to speed up R&D efforts for new products. As a result, the client counteracted potential revenue loss and capitalized on untapped market opportunities.
- Preventing revenue loss by detecting deceitful activities – SessionStackAI’s analysis detected customer behaviors categorized as ‘gaming the system’, such as attempting old coupon codes or manipulating cart contents for reduced prices. By identifying these behaviors, SessionStackAI enabled the client to mitigate revenue loss by implementing preventive measures against fraudulent activities.
- Enhancing User Experience and Checkout Optimization – SessionStackAI’s analysis of specific form field errors and visitor behavior on the Checkout page identified UI elements likely causing frustration and checkout abandonment. By addressing these issues, SessionStackAI facilitated a smoother checkout process, reducing frustration signals and preventing revenue loss from unfinished orders.
- Fueling Traffic Channel Optimization – Using traffic and behavior analysis, SessionStackAI identified the most effective marketing channels for the client. By doing so, SessionStackAI empowered the client’s marketing team to focus on channels driving the highest conversions and revenue, which resulted in optimizing their marketing strategy for greater success.
Warning: “The AI bubble is bigger than the tech bubble in the 1990s”
Who is the platform intended for?
The products of SessionStack are especially beneficial for high-traffic e-commerce sites with tech-savvy customers expecting impeccable experience as it shares insights for C-level roles, e-commerce management and support, and marketing teams. A lightweight solution with zero impact on website performance and enhanced by proprietary machine learning models and AI, it shifts the game from watching endless session replays to using the crucial insights within them. This supercharges decision-making and customer experience optimization to boost revenue.
SessionStackAI is specifically aimed at e-commerce businesses that understand the power of analytics for conversion optimization but need more resources to make use of them – due to the lack of a dedicated team of analysts, for example.
What’s next for SessionStack?
The company plans to open its closed pilot program to more customers around the end of March 2024, while continuing to refine its product proposition. An immediate expansion in the region is at hand, supported by an introduction at key industry events across Central Europe and the Balkans in the upcoming months. In the long run, SessionStack plans to tap into more mature markets, aiming to showcase new ways of aligning sales strategy to technology, increase revenue, and enable a more joyful web experience for shoppers in the CEE.
SessionStack´s CEO Alexander Zlatkov shares: “The past six months have been very dynamic for us at SessionStack. We saw a quickly growing demand from e-commerce businesses wanting to make sense of the huge piles of data collected from their analytics to increase revenue. So we started working with high-traffic online retailers to build a solution that is truly solving their problems. This led to the development of SessionStackAI – a digital AI analyst.
It will be a crucial part of the e-commerce’s digital team and will tirelessly look through the data generated by millions of user journeys to understand which areas of e-store optimization will be the most impactful for revenue growth. To do this, we are building a set of proprietary machine learning models paired with generative AI that extracts the gold from the billions of user events that SessionStack captures – all done without the time-consuming analysis that was required up until now. Pure conversion rate optimization opportunities served on an AI platter.”
