On March 30th, Klaviyo announced some exciting new features that Sprucely Designed is excited to share with you. Up first – Benchmarks.
What is Klaviyo?
For those of you who may be new, Klaviyo is an email and SMS marketing platform that has full integration with various eCommerce platforms like Shopify, BigCommerce, WooCommerce and more. What does this mean for you?
- Owned Marketing: with Klaviyo, you own all the data and information to drive growth and customer experience.
- All Your Data in 1 Place: Klaviyo prevents siloed data stuck in multiple systems, ensuring you have the most robust data to make the best decisions for your business.
- Large User Base: Over 30,000 clients use Klaviyo
Sprucely Designed is proud to be a Klaviyo Master Partner and offer full support for this versatile platform.
If you’re a current client, reach out to us to schedule a call, or register directly with Klaviyo for a demo below.
What Are Klaviyo Benchmarks?
This new analysis tool built right into Klaviyo lets your business compare your performance to both similar companies and industry trend data. This can help form your email marketing strategy by leveraging data to identify areas of improvement and opportunity.
Why Should I Use Klaviyo Benchmarks?
Great marketing is only as good as that data that drives the campaign. Utilizing data like benchmarks to make your marketing more targeted and focused is essential to success. On average, Klaviyo clients see a 29% increase in revenue in the first 6 months of utilizing the tool. When done correctly, the partnering of compelling campaigns with informed data can be transformative for your business.
How Does It Work?
Clients can access Klaviyo Benchmarks as long as you have sent at least 25 emails in the past 6 months, and have set an industry and vertical in your account’s organization settings. Benchmark data is then accessed via the Analytics tab within your Dashboard. Data is updated every 10th of the month.
What Do You See?
Once you select the Benchmarks tab, you’ll see a quick overview of 5 “Best Performing Indicators” and 5 “Worst Performing Indicators.”
In addition to the Overview dashboard, you can dive deeper into Business Performance, Campaign Performance, and Flow Performance.
Business Performance
The Business Performance benchmark tab will show you performance indicators related to overall business health. Key indicators and data points you’ll find here include:
- Average Cart Size
- Average Order Count
- Average Order Value
- % of Orders Returned
Campaign Performance
Data found in the Campaign Performance tab will focus on your email marketing performance. Key indicators and data points you’ll find here include:
- Open Rate
- Click Rate
- Click Through Rate
- Conversion Rate
- Email Revenue per Recipient
- Bounce Rate
- Spam Report Rate
- Unsubscribe Rate
Flow Performance
Data within the Flow Performance tab focuses on your marketing performance over time, including data from welcome series emails, abandoned cart messages, browse abandonment campaigns, and customer thank you emails. Key indicators and data points here are similar to Campaign Performance.
Read the Klaviyo Benchmarks Guide for even more helpful information.
How Are Klaviyo Benchmarks Helpful?
Using Klaviyo Benchmark data to guide your marketing strategy will help make your campaigns stronger, and lead to potential growth. By diving deeper into comparatively poor performing indicators, you can identify new steps to improve your customer engagement and conversion rates. If you are ready to take advantage of Klaviyo Benchmarks, Sprucely Designed can help. Contact us today to learn why we recommend Klaviyo and how we can utilize data to strengthen your business!
