Where should I conduct an advanced analysis of my marketing?
The answer: all across Klaviyo. Don’t worry, we’ll break it down for you throughout this course, so you’re equipped to tackle all of the great tools at your disposal.
Let’s start by differentiating between the reporting tools available in a base Klaviyo account and those you unlock when you set up Marketing Analytics (an add-on package that opens new doors for analysis!). Your analysis and available tools depend on what’s enabled in your own account.
Refer to the tools below and confirm what is currently at your disposal as you continue forward.
Account type | What tools you unlock |
|---|---|
Base-level analytics |
|
Marketing Analytics enabled | Everything listed above, as well as:
…and more! We’ll dive deeper into Marketing Analytics later in this course. |
Expand your use of Klaviyo’s Analytics tab
You’ve enhanced your marketing strategy and understand where to go to monitor success, but now: what’s next?
It’s time to get more advanced in how you actually find, report on, and share out marketing performance with your team. Let’s walk through how to improve your data collection and share-outs in the tabs below.
Focus on core metrics
From the start of this certificate, we stressed the importance of setting proper goals for your omnichannel marketing strategy.
Now, check in to ensure you’ve achieved your goals.
Recommended tools:
- Metrics
- Benchmarks
Zoom in on one specific performance indicator over time via metrics. For instance, if you aim to increase Placed Orders over the last 6 months, track progress here.
An advanced strategy uses all the tools in your Metrics tab wisely, such as:
- Monitor which core segments are driving growth for this conversion metric by filtering your Charts tab.
- Identify trends across orders using Cohort analysis, noting the frequency of shopper behavior over time.
- Identify your “Best people” for a given metric so you can reach out for feedback, referrals, or engagement in your loyalty programming.
- Create custom metrics that include or exclude specific events from attribution. For example, remove subscription events from your placed orders metric to better understand your overall one-time purchases in a single metric. We’ll cover this more in a later lesson in this certificate.
You should also refer to Klaviyo Benchmarks to better understand and share with your team how you stack up against other companies of a similar size and scope to your own.
Share a robust team report
One of your most important roles as a marketer is not solely creating content, but proving its impact on your business as a whole.
Recommended tool:
Custom reports, which allow you to:
- Develop customized reports for your brand, featuring specific marketing initiatives and resulting data.
- Schedule reports to your team for ongoing review (e.g., via weekly, monthly, or quarterly emails).
What kind of reports are most impactful for advanced omnichannel marketing?
Below are a few to create in your own account today:
- Monitor your business's health across marketing channels with a robust, omnichannel Campaign performance report.
- Prove that you supported the sale of high-priority products or launches with the Product performance report.
- Analyze revenue grouped by custom properties you’ve collected from shoppers and targeted campaigns within the Single metric deep dive report (e.g., focusing on Placed Orders, refined to hone in on sub-groups like Male VIP shoppers in Canada).
Enable growth check-ins
Keeping your team informed is just the start. You need consistent, streamlined check-ins to get a big-picture view of your marketing impact.
Recommended tool:
- Dashboards
- Deliverability
Use the Deliverability hub to track your efforts to improve your brand's deliverability. The Deliverability Score is the perfect asset for sharing tangible progress as you improve it with consistent sending.
Similarly, Dashboards are your go-to for visualizing trends across your marketing.
Complete the following dashboard strategies:
- Begin here: Consistently monitor the pre-built Business review dashboard for a summary of performance, adjusting your time frame to see relevant data and filtering across your most pressing key performance indicators. Pull this up in data-driven team meetings to ensure everyone is aware of your results.
- Advance further: Build robust, customized dashboards from scratch that align with a specific goal. Identify your goal for the quarter, start a new dashboard, and add only cards that track toward that goal (e.g., if your main marketing priority is to increase mobile acquisition, focus on mobile KPIs and list growth cards).
Take testing to the next level
Consistent A/B testing is crucial for the long-term scalability of your content strategy. In an advanced strategy, your team should run tests across channels and within campaigns, flows, and forms. It is essential to have a centralized location for tracking and evaluating results regularly.
Recommended tool:
- Experiments
As experiments conclude, you must be prepared to draw insights from your tests. Make sure to:
- Prioritize statistical significance: Before looking at which variation "won" (e.g., higher open rate), confirm the result is statistically significant. Klaviyo calculates this confidence level for you. Only rely on the winning variation if the confidence level is 90% or higher. If the confidence is low (e.g., 50-80%), there is no clear winner, and you should run a similar test again with a larger sample or a more drastic change in the variable.
- Compare primary and secondary metrics: Your test's success should be tied to your target metric (e.g., conversion rate). That said, always review secondary metrics to ensure the winning variation didn't negatively impact downstream performance (e.g., increasing unsubscribe rates, which can affect long-term sending).
- Document results: Document your test hypothesis, winning insights, and the impact on your business. This not only shows that your test efforts are profitable but also tracks what resonates with your audience, so you can replicate this success in future sends.
Walk through an example of omnichannel analysis in action
Now that we’ve reviewed core analytics goals and tied them to tools in Klaviyo, let’s walk through an example of how you can use them in real-world scenarios. We will specifically walk through omnichannel use cases with the mock brand, SWAK Cosmetics.
Use metrics to troubleshoot integrations and unlock new strategies
SWAK Cosmetics has built a flow to nurture new leads who complete a style quiz on their website. They go to the Metrics tab and check the status of their quiz completion metric to ensure it's behaving properly.
Reviewing the data for this metric confirms that their quiz integration stopped syncing this information into Klaviyo.
They're able to restore the connection and properly analyze the performance of their flow. These insights encourage them to make adjustments, such as adding paths to the flow based on preferred channels for those who want style recommendations via text, push, or WhatsApp rather than just email.
Review business performance in 1 place
SWAK reviews monthly business growth across core metrics, particularly those attributed to their mobile marketing strategy, as they recently ramped up messaging via text message and push notifications.. This allows them to proactively identify trends in data at any time.
For instance, they keep a close eye on the Campaign performance summary card, filtering it by channel to see revenue growth and recipient count.
Build reports for specific channel efficacy
SWAK Cosmetics created a series of A/B test campaigns to discern whether text messages with an image perform better for new product launches as opposed to texts without them. They wanted to assess whether paying the higher price is worth the return on investment for MMS.
To help them assess trends across those tests, they create a campaign performance report that captures data from their text campaigns across the last 3 months, including A/B test variations.
This way, instead of simply aggregating the campaign’s performance, they can analyze the different variations and their respective performance.
Identify opportunities for growth with Benchmarks
SWAK Cosmetics saw a significant drop-off in conversions across their welcome flows. Their click rates trended around typical industry averages; however, their conversion rates needed improvement. For instance, their welcome series had a 4% conversion rate, while industry benchmarks show that a 5-10% conversion rate is common for text welcome flows.
As a result, they dig deeper and realize their second message, which contained only a general product link, was underperforming.
To refine their strategy, SWAK introduces a more personalized incentive to the user's initial sign-up source (e.g., a "free mini-mascara with purchase" for those who signed up via their general form, versus a personalized recommendation and discount for those who completed their style quiz). This successfully increased the flow's overall conversion rate to 8.5%, bringing them within a competitive range.