Key highlights from the recent interview with Releva’s CEO for Digitalk

In a recent interview with Alexander Glavchev from Digitalk, Georgi Georgiev, Releva’s CEO delved into the dynamic world of eCommerce and the company’s journey as a finalist in the Startup World Cup.

The insightful conversation sheds light on the importance of personalization, the impact of the disablement of third-party cookies,and the significant role played by eCommerce personalization in reshaping the industry.

You can read some highlights from the interview here:

Startup World Cup – Releva’s Success in San Francisco

In June 2023, Releva won the regional edition of the Startup World Cup, securing the opportunity to represent Bulgaria at the competition’s grand finale in San Francisco. Georgiev expressed his gratitude to Digital4Bulgaria for organizing the Startup World Cup Bulgaria and shared more information about the grand finale.

In spite of Releva not winning, its exposure attracted investor interest, highlighting Bulgaria’s potential in the global tech scene.  Georgiev mentioned that the experience in San Francisco opened doors for inquiries about Releva’s innovative technologies and the thriving ecosystem in Bulgaria.

Shifting From A Mass Market Approach To A Personal Touch: eCommerce Personalization

Georgiev mentioned that the driving force behind Releva is the desire to recreate the personalized shopping experience found in local stores, where the shop assistant knows your preferences and suggests precisely the products you need and want. He emphasized the shortcomings of online merchants bombarding consumers with irrelevant content, contrasting this with Releva’s mission to offer tailored content and products through AI-driven personalization. Releva’s generated tailor-made approach benefits both end-customers and merchants.

Navigating the eCommerce Landscape Post Third-Party Cookie Disablement

A crucial aspect of the interview was focused on the third-party cookie disablement. 

With their removal, Releva is about to play an even bigger role in the eCommerce industry due to the fact that the platform is leveraging first and zero-party data. According to Georgiev, attempting to function in a digital environment without user consent and trust, and lacking personalization, is absurd.

He pointed out that in the current consumer landscape, there is a clear demand for personalized experiences, and it is perceived as a hassle to navigate through the overwhelming assortment of products.

Removing third-party cookies should be seen not only as a challenge but also as an opportunity for businesses to establish meaningful connections with users through proactive data sharing, which will be crucial for providing personalized content.

In the new landscape, Releva stands as a powerful solution, guiding shops into the new era of the user-centric, personalized eCommerce industry.

Advantages of First-Party and Zero-Party Data and Changing Marketing Mindsets

During the interview, Releva’s CEO highlighted the advantages of both first-party and zero-party data, underscoring their enhanced security and remarkable capacity to transform the marketing mindset by urging brands to create better relationships with their users, personalize communication, and develop unique brand identities.

As a result of using Releva’s platform, brands and customers are able to form emotional connections and strengthen user loyalty. The solution generates personalized messages based on user behavior and interests, resulting in a more efficient and effective marketing strategy.

Impressive Results: Conversion Rates and AI-powered Personalization

Georgiev also revealed some of the impressive results from Releva’s approach, showcasing substantial increases in conversion rates—often ranging from 30% to 40%—and an average revenue boost of more than 40% for ideal customer profiles.

Releva’s team would like to thank Alexander Glavchev for the insightful interview.

You can read the whole material in Bulgarian from the Digitalk website here.

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