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Can AI Help E-commerce Businesses in CEE Grow Revenue Multiplefold? SessionStack Demonstrates How

Alexander Zlatko, CEO at SessionStack
Image credit: Alexander Zlatkov, CEO at SessionStack
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Bulgarian startup SessionStack, which uses machine learning and 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.

“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,” said Alexander Zlatkov, CEO at SessionStack.

Who is SessionStackAI intended for?

The product is 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. 

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.

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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.

In recent years, e-commerce in CEE has been experiencing rapid growth and while it’s still far behind China or the US, the region has also become home to a number of successful/highly-promising e-commerce platforms, including Emag, Skroutz, Rohlik, ebag.bg, Allegro, CloudCart, Munch, Next Basket, Bonapp.eco, Foodobox, and others.

Conversion rate optimization in action

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.

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The team of SessionStack at Campus X in Sofia

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.

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https://therecursive.com/author/etienyovchev/

Etien Yovchev is a co-founder and Chief Editor at The Recursive, online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. He has told the stories of over 200 ventures from the region and aims to provide high-quality constructive reporting on the progress of the SEE innovation ecosystem, making sure that the stories of promising local founders reach global audiences. Etien holds a MSc degree in Innovation Management from RSM, Erasmus University Rotterdam and has more than 4 years of experience in the commercialization of new products, having worked with many early-stage companies and a few corporate innovation departments across Bulgaria, The Netherlands, and the USA.