Marketers know that timing is everything. Bathing suits will move slowly in the middle of winter, and Christmas ornaments are a hard sell in July.
The same marketing truths that apply in one season are just as important in one second. A poorly timed pop-up may distract a visitor from completing their purchase. A well-selected discount may catch their interest just enough to create a conversion.
It’s this real-time, in-session marketing imperative that drives us to innovate further. During the past quarter, Session AI has delivered numerous features and improvements that allow our customers to use real-time incentives for maximum impact.
In-session marketing allows retailers to get more topline and bottom-line impact from each incentive dollar invested in their business. With this year’s innovations, each incentive dollar will go even further. These new innovations also help retailers realize the value of in-session marketing faster, and communicate how in-session marketing impacts their site traffic and overall marketing strategy.
Here are four key innovations that our team has delivered over the last three months.
Incentives Insights Dashboard. This console shows overall incentives and revenue driven by Session AI, including real-time calculations of conversion rates, discount rates, and the overall yield for in-session marketing. These insights are shown for the business overall and for each AI-generated predictive segment: likely-to-buy, on-the-fence, and unlikely-to-buy. This console provides crucial communication on the before-and-after impact of in-session marketing so retailers can easily determine the allocation of incentive funds for maximum return on investment.
The Incentives Insights Dashboard shows numerous real-time calculations of conversion rates, discount rates, and the overall yield for in-session marketing.
Session Path Visualizations. These fresh charts show how visitors navigate the retailer’s site from the point of landing on site through delivery of incentives, with an emphasis on predictive segments. The visualizations make it easy for business users to understand the trends occurring in use of incentives, and provide a convenient way to communicate how visitors experience real-time incentives.
Session Path Visualizations show how visitors navigate the retailer’s site from the point of landing on site through delivery of incentives.
Continuous Learning and Prediction. As the AI categorizes each visitor into segments based on their purchase intent, there are opportunities to change the thresholds for each segment in order to further increase yield and conversion. Previously these threshold changes were manual. Now, with continuous learning and prediction, retailers can opt to have the AI adjust thresholds over time to target yield and conversion goals, without manual intervention. This new technology reduces the effort required to maintain segments and increases the financial impact of the Session AI platform.
Day-One Model. Session AI now offers a model trained with billions of past sessions at launch. As this model learns from the retailer’s own visitors, the model automatically tunes to the retailer’s unique visitors for maximum impact. This automatic modeling reduces the time to value by allowing for yield-positive incentives on day one, without a need for model training prior to using in-session incentives. Overall, time to value is accelerated by between several days and several weeks for retailers choosing this option. Business users can see the yield and impact from the Incentives Insights Dashboard.
Looking ahead to 2024, we’re excited to unveil even more capabilities for our in-session marketing platform, transforming how retailers convert site visitors while preserving margin.
You wouldn’t put out a display of winter clothes next Spring. In 2024, you should have the same feeling about putting sitewide offers in front of every visitor, when a targeted real-time promotion can better help you reach your sales numbers. That’s the future we are building every day.
