Monitor your metrics
Consistently measuring your performance is crucial for success. Understanding your metrics allows you to better understand your subscriber base and enables you to make informed marketing decisions to increase your engagement and conversions.
Analyze your performance
Bola’s Baked Goods wanted to analyze their text message performance in Klaviyo. To do so, they used a few different resources to take a closer look at their performance metrics:
Campaign list view
The campaign list page provides a high-level understanding of how each campaign is performing.
Filter this view by text message campaigns and by the segment you are interested in to see a performance overview.
Click rate and conversion rate are 2 metrics included on this page. These metrics help you understand how your text messages are driving recipients to visit your site and make purchases.
These metrics are important because they inform you which messages are driving revenue for your business, so you can refine your campaign strategy.
Individual campaign performance
From the campaign overview page, click on a campaign name to see detailed analytics for that campaign. This includes:
- Overview
- Recipient activity
- Link activity
- Conversions
- Deliverability
Use these analytics to dive deeper into how your campaign performed over time. When you have access to all of your recipient activity and deliverability, you can make more informed decisions about your future targeted campaign sends to improve your metrics.
Segment growth report
The segment growth report is a helpful tool for you to see how your segment changes over time; specifically, how many people joined the segment and how many dropped in the timeframe of your choice.
This information helps you analyze the behavior of your subscriber base. The more you understand them, the better your chances at driving conversions.
Use the segment growth report to quickly visualize how your text segments dynamically change over time.
SMS deliverability hub
The Text message deliverability hub shows you key metrics on how your messages are delivering. High deliverability is crucial for SMS success, because if your messages never reach your subscribers, they certainly won’t drive engagement or conversions.
You can access metrics such as delivery rate, fail rate, and unsubscribe rate. You can additionally take a deep dive into your logged failure reasons, giving you a holistic view of your errors.
It’s important to quantify what good text message metrics are, so you can understand how your campaigns perform in comparison to the industry benchmarks. Review this graph for a brief overview of good campaign metrics for SMS and MMS messages:
Actioning on performance analysis
After analyzing their performance, Bola’s Baked Goods noticed some room for improvement in regard to how they’re targeting messages to their segments. Click through the examples below to see what Bola’s Baked Goods found in their analysis, and action steps they took to improve some of their metrics.
Improving low click rates
Bola’s Baked Goods noticed some of their recent campaigns had pretty low click rates. Upon diving in further, they noticed that the campaigns with low click rates had similar common threads: the campaign content was very specific in topic (e.g., a new product update of a specific type), and was sent to a very large segment (e.g. All text subscribers).
In an effort to improve their click rates, Bola’s Baked Goods decided to target their product updates to more specific segments, such as their VIPs and groups that had previously purchased similar items.
They found that sending these more personalized messages to a more targeted segment resulted in higher click rates because the content was more relevant to the audience.
Decreasing high unsubscribe rates
Bola’s Baked Goods also noticed that their unsubscribe rate exceeded 1.3% after sending a few campaigns to their All subscribers segment. Since rates above 1.3% trigger an alert, and an unsubscribe rate of 2% or more is considered critically high for text campaigns, the Bola’s team knew they had to investigate.
Sometimes, high unsubscribe rates can signal that you’re sending campaigns to many unengaged subscribers who are no longer interested in your brand.
Bola’s Baked Goods decided to create a new unengaged segment to exclude from their regular campaign sends.
As a result, they found that their unsubscribe rates decreased because they were sending campaigns to only subscribers who were still engaged with their brand.
Maintaining high conversion rates
Bola’s Baked Goods was pleased to see that one of their recent campaigns had a very high conversion rate. The campaign was an exclusive perk with early access to an upcoming sale, sent just to their VIP segment.
Bola’s Baked Goods aimed to replicate the success of this campaign by scheduling more regular early-access campaigns for their VIP segment, making their loyal subscribers feel valued and appreciated.
as they began marketing the early access offering toAs a result, they continued to see high conversion rates with their early access campaigns, and their VIP segment grew in size as they began to market the early access offering for customers who purchased a certain quantity of products.
Match the result to the next move
Using everything you’ve learned in this lesson, it’s time to turn your performance insights into action. In the activity below, pair each scenario to the action you would test next.