How can product analysis help me with my repeat purchase strategy?
You’ve seen product analysis, but might be wondering, how can it drive more sales? That’s the key. Using it effectively can boost repeat purchases and grow customer loyalty. Klaviyo’s onboarding experts helped SWAK Cosmetics do just that, and now, we’ll show you how to apply these proven strategies to your business.
How to build a repeat purchase rate strategy with Klaviyo
Note: This video includes features available in the intelligence section of Klaviyo Advanced KDP and Marketing Analytics
Follow SWAK’s plan to build a repeat purchase strategy
Our internal Advanced KDP and Marketing Analytics experts and Klaviyo’s onboarding team use a similar method to build a repeat purchase strategy using the product analysis dashboard. Here are the steps to help you start building your own strategy.
Sort your product insights by most unique customer purchases
After logging into Klaviyo, click Catalog insights.
Click the Sort dropdown and pick “Customer: high to low.”
Optimize your merchandising strategy with recommended bundles
Start by reviewing your best-selling products. Depending on your brand, select your top 5, 10, or 20 items. The goal is to identify where most of your potential customers are likely focusing their attention.
1. Check the Products Bought in the Same Cart card on your product analysis dashboard. Which products are frequently purchased with your top-selling item? For example, customers might often buy a crewneck in the same cart as the cap shown above.
2. Are there any products with a high co-purchase rate? While most of your co-purchase rates will hover around an average, look for outliers that would make sense to bundle.
3.Use this insight to create product bundles on your website, then run a promotional campaign to spotlight your new bundle.
4. After launching and promoting the bundles, review your results after 30 days. Do you see an increase in average order value (AOV) or campaign revenue?
Build a conditional split for your browse and cart abandonment flows
1. Personalize your browse and cart abandonment flows by adding a trigger split for customers who viewed your best-selling product.
2.Use this data to improve your subject lines by highlighting key upsells, or add a product block with items often bought together to encourage customers to add a little extra to their cart.
3. Want to personalize even further? Add a show/hide condition based on RFM group. For example, your Champions and Loyal customer groups might not need a discount, but you can incentivize them to refer a friend, leave a review, or start a subscription. On the other hand, for your At Risk or Needs Attention customer groups, you may want to remove barriers and offer a discount on their next purchase.
Refine post-purchase timing
1. Review your Repeat Purchase Timing. Do customers usually make a second purchase before or after the standard 30 day follow up? In the example above, customers usually make a second purchase 20 days after their first.
2. With these insights, conduct an experiment. Examine your post-purchase flow. When do you usually begin cross-selling key products? Add a time delay before you send any cross-sell emails. This helps you align your post-purchase timing with the real customer data found in the repeat purchase timing chart.
Pro tip: Automate follow-ups using Best cross-sell date. Now, you can go beyond manual adjustments and automate follow-ups at the perfect time. Using Best cross-sell date, you can trigger a cross-sell flow exactly when each customer is most likely to return. Instead of relying on static time delays, this AI-powered prediction tailors every individual post-purchase message based on actual buying behavior, helping you increase repeat purchases with precision. Check out this guide for creating a Best cross-sell date flow in Klaviyo.
Enhance post-purchase flow content
3. In your product analysis, take a look at which products are usually bought in the next order. In the example above, customers often buy an umbrella after purchasing a hoodie.
4. In your post-purchase email from step 2, add a trigger split to recommend products with a subsequent purchase rate (in the example above, we would add the umbrella and lilac sweatshirt) for those bestseller purchasers.
Keep an eye on your post-purchase flow for the next 30 days. Are you seeing any increased revenue and conversion rates by making these small adjustments?
Pro tip: Personalize emails with Next best product recommendations. Take your post-purchase emails to the next level by adding a Next best product dynamic block to your templates. This AI-powered feature automatically recommends the most relevant product based on what each customer last purchased. Instead of guessing which item to promote, let data-driven insights surface the best option, helping you boost conversions with highly personalized product suggestions. Check out this guide for adding Next best product blocks to your messages.