Drowning in data with no clear insight?
You're not alone! When implementing an omnichannel strategy, it's challenging to determine which metrics matter and where to focus your efforts. As a starting point, run A/B tests to compare how multiple variations of the same form, campaign, or flow messages (or full pathways) perform.
In particular, you’ll pinpoint which changes in tone, message timing, incentives, etc., drive the most conversions. Use this knowledge to reinforce and scale what’s proving effective. As you run A/B tests across on-site forms, email, text, and more, watch the video below to ensure you follow core best practices.
Access your Klaviyo analytics toolkit
Now that you can experiment to identify message strengths and weaknesses, let's examine it in more detail. In the tabs below, walk through each tool in Klaviyo to make sense of your data and save you time.
Metrics
Head to the Metrics tab of your account to focus on a specific key performance indicator, such as placed orders or a channel-specific click rate.
Use metrics to:
- Ensure all integration data is syncing properly.
- Zoom in on 1 specific performance indicator over time.
- Create custom metrics to include or exclude specific events from being attributed to your metric. For example, remove subscription events from your placed orders metric to better understand your overall one-time purchases in a single metric.
Note: All accounts can create 1 custom metric. That said, if you’d like to build more than that, you can create up to 50 custom metrics once you invest in Klaviyo’s Advanced KDP.
Business review dashboard
Similarly,the Business review dashboard displays a summary of your team's performance across Klaviyo. You canadjust your time frame and see your real-time data.
Use the business review dashboard to:
- Monitor your own growth data in an easy-to-view dashboard.
- Track conversion trends over a specific timeframe.
- Host data-driven meetings at a more frequent cadence (e.g., weekly) with your team.
Custom reports
Custom reports offer robust, pre-built solutions that answer common business questions and monitor trends in your omnichannel strategy.
Alternatively, you can create a custom report tailored to your specific needs.
Use custom reports to:
- Monitor your business's health across marketing channels.
- Find your top-performing product.
- Analyze revenue grouped by custom properties.
- Schedule reports to send to your inbox for ongoing review.
Benchmarks
Visit Benchmarks to see how you compare to other brands and industry trends. Keep in mind that industry, size, and marketing spend all contribute to your performance.
Use Benchmarks to:
- Compare your account performance against industry standards.
- Compare your account performance against companies most similar to your own in size and scope.
Outside of Klaviyo benchmarks, you can also reference benchmarks across industries for:
Marketing Analytics
Marketing Analytics provides actionable customer and product insights that enable you to enrich your marketing strategy with additional data and use cases for better personalization.
Use Marketing Analytics to:
- Locate where customers churn in your marketing funnel.
- Group customers based on purchase recency, frequency, and monetary value.
- Review a summary of your top audience groups.
- Analyze the behavior of specific cohorts (i.e., groups of your audience that share specific behaviors).
- Review insights pertaining to your product catalog and buying trends.
- Predict your customers’ expected purchases and behaviors over time based on customer lifetime value.
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.
Power smarter flow automations with Marketing Analytics tools
SWAK Cosmetics has remodeled its marketing strategy across channels after investing in Marketing Analytics, as new insights unlock new ways of communicating.
For instance, they made the following changes to their flows based on trends they saw across Marketing Analytics features:
- Added product recommendations across their post-purchase and abandoned cart messages, promoting items often bundled together (found in Catalog insights). Learn how to power cross-sell recommendations.
- Created a nurture flow across message types that automatically contacts shoppers at key moments (powered by RFM analysis). Learn how to create this nurture flow.