Session Conversion Probability
Session Conversion Probability refers to predicting the likelihood that a customer will purchase during their session. Chord’s session conversion probability feature leverages your store’s data into deep insights about your customers’ behavior. In turn, this rich data can help operators, marketers, and analysts to create and optimize business strategies to improve conversion rates to bolster your store’s performance.
Chord’s session conversion probability feature takes data inputs from session activity and session events and page views to create the predictive models.
We model session conversion as a function of session activity (including activity count, session duration, time of session, and device) and marketing inputs (such as source, channel, and medium).
This new predictive feature is composed of the following summary statistics:
- Session activity count: Marketers can compare session activity counts understand likelihood to convert. Chord will provide different buckets of session activity counts and the conversion predictions. This is different than the metrics related to Number of Sessions (see below).
- Session duration: Chord’s session conversion probability will display a chart that shows conversion probability associated with different session durations.
- Number of Sessions: This value refers to the the aggregate number of sessions for an anonymous user ID.
- Has Referral: This value indicates if the first page event of the session has a referrer host.
- Has UTM: This measure indicates if the session first page has a UTM.
- Has GCLID: Similar to Has UTM, this measure indicates that first session has a Google click ID.
- Device Type: Displays session conversions by device used (ex. desktop, tablet, Android, iPhone).
- Session Attribution Channel: Displays session conversions by attribution channel (ex. SMS, e-mail, organic search, paid search, etc).
- Session Medium: Displays session conversions by session medium (ex. Affiliate, CPC, e-mail, paid, etc).
- Session Source: Displays session conversion by session source (TikTok, Instagram, Facebook, Google, etc).
- Paid or Organic Search: Displays session conversion by paid or organic search.
Chord’s session conversion predictions can be applied to many business scenarios. A few examples are included below.
- On-Site Personalization: Brands can dynamically adjust the customer experience in real-time using Chord’s session conversion predictions. For example, stores can offer a discount code if conversion probability is high using Chord's Audiences API.
- Personalized Marketing: Similar to adjusting customer experience in real-time, brands can use Chord’s predictive feature to send targeted offers or reminders to customers to further engage them to get them closer to checking out.
- Ad Spend Optimization: Take advantage of high-probability conversion sessions by setting up smart retargeting efforts via ad spend.
The session prediction feature is available for all Chord brands that are qualified to unlock our baseline data science features. Brands must have the following requirements:
- 2,000 completed CDP-attributed session transactions;
- At least 90 days of event data collected through our CDP;
- At least 200k sessions; and
- Session conversions greater than or equal to 1% (or, at least 2k converted sessions).
If you have any questions, please reach out to your account manager.
- Session: A time-bounded period during which an anonymous user interacts with your website.
- Conversion: When a session results in a paid event, such as a checkout or subscription.