Klaviyo Inc.
07/29/2024 | News release | Distributed by Public on 07/29/2024 08:13
Klaviyo CDP's newest features
Historically, going from raw data to actionable insights you can leverage in your marketing was incredibly hard.
It required tons of effort and resources to centralize data across your stack, clean and analyze it, and then translate those learnings into your marketing efforts in order to drive repeat purchases.
Well, that was until last year, when Klaviyo launched our vertically integrated customer data platform to help scaling businesses do just that-harness the power of their data. Building on years of delivering user-friendly tools that allow brands to ingest, store, and activate customer data, Klaviyo CDP adds advanced data unification, analytics, and orchestration into the mix.
Klaviyo can now serve as the central brain of your business, giving you full access to your customer data and rich insights in the same place you can take action on them and deliver omnichannel experiences. As a result, you can consolidate your tech stack, do more with fewer resources, and power smarter digital relationships that generate more revenue faster than ever.
Customers like Ruffwear and Nextbase are already finding huge success driving repeat purchases with advanced retention strategies like RFM-triggered flows and personalized on-site experiences. They're generating incremental revenue and saving time-sounds nice, right?
Recently, we've made significant investments to make Klaviyo CDP smarter, faster, and more powerful-and there's so much more to come.
Make smarter decisions, faster, with direct paths from insight to action, featuring an RFM action center and more
RFM action center: one-click actions to drive retention
With a new action center built into your RFM analysis, you'll get personalized recommendations on key segments, campaigns, and flows to create, which will help you improve retention, drive repeat purchases, inspire loyalty, and recapture disengaged buyers.
Top use cases with RFM action center:
- Convert "Recent" customers to "Champions" by launching a pre-built, recommended flow.
- Provide a special offer for "Needs Attention" customers to drive retention with a recommended campaign.
Product analysis: inform merchandising and post-purchase strategies
Promote the right products at the right time to drive repeat purchases. Grow customer lifetime value by using purchase pattern insights, like when and what products customers return to buy, to sharpen your merchandising and post-purchase strategies.
Top use cases for product analysis:
- Adjust post-purchase flow timing and content with a wait step and product recommendation based on insights from product analysis.
- Automate recommended bundle/co-purchase in abandoned cart flows with a reminder to purchase and a product recommendation from "products bought in the same cart".
Drive better results with smarter datayou can trust, featuring data transformation and more
Data transformation: merge profile properties and reformat dates
Enhancements to data transformation include new ways to enforce data hygiene and save time, driving more accurate and streamlined personalization at scale. Now, you can merge up to 10 profile properties, and seamlessly reformat dates (locale-specific ).
Top use cases for data transformation enhancements:
- Merge multiple custom properties from different systems (e.g., different profile properties for hair type or birthday) into one property.
- Reformat birthday values to a standardized, Klaviyo-accepted format
Custom monitors: set alerts across your data to stay ahead of the game
With custom monitors, you can flexibly configure alerts on any Klaviyo object or metric to monitor performance in seconds. Catch performance dips and data issues as soon as they happen, and customize notifications to maximize efficiency-ensuring your marketing efforts are effective and uninterrupted.
Top use cases for custom monitors:
- Monitor site visitors. Proactively monitor the number of "active on site" events captured in Klaviyo, and receive alerts for a drop in website traffic.
- Monitor unsubscribe rates for a flow. Proactively monitor the unsubscribe rate for key flows on your account to resolve issues before they impact your deliverability.
Default custom metrics: accurately report on key business metrics in a single click
Shape reports to match your business priorities by using custom metrics for more accurate reporting and attribution. We're making this even easier with default custom metrics pre-built in your account.
Top use cases for default custom metrics:
- Track the growth of online orders and your performance in any of your Klaviyo reports.
- Review and customize the default custom metrics on your "Metrics" page.
Deliver smarter experiences through enhanced connections to your data warehouse
Error logging for data warehouse syncs: gain visibility into syncing status and troubleshoot any issues quickly
View errors and detailed explanations whenever there's an issue exporting data from Klaviyo to a data warehouse, allowing you to solve problems faster.
Set up your data warehouse sync today.
Coming soon: advanced, flexible identity resolution and more
We're not stopping here. We're making lots of investments to help unlock the power of your data and make smarter decisions, faster.
Disclaimer: our roadmap is heavily influenced by our customers and partners, as we aim to build tools that skyrocket success for your business. That said, we'd love to hear from you directly-feel free to schedule time with respective product teams below.
Advanced, flexible, and transparent identity resolution
Personalized customer journeys start with a unified, holistic view of the customer-which is why identity resolution is such a big priority for us. You rely on Klaviyo to be your source of truth for customer data, which means maintaining an accurate, deduplicated, and comprehensive view of each unique customer and their engagement history.
While we have deterministic capabilities today, expanding our identity resolution offerings ensures that our customers can best unify data from all of their disparate sources, to power the most effective personalized experiences across every channel.
Rather than the black-box identity resolution offered by competitors, we're going to unlock transparency with an identity explorer-a new user-friendly interface to explore and establish custom links for profiles that share similarities, enabling flexible deterministic and probabilistic matching. To ensure full flexibility, CDP customers will also have access to a configurable identity hierarchy and the ability to create custom identifiers.
We'd love to hear more about your identity resolution wants and needs, and even show you a prototype of the identity explorer. Book time with our identity resolution team today.
Custom and pre-built data objects
Easily deliver smarter experiences using data objects- a new way to store and access information in Klaviyo for CDP customers. This will allow you to create new relational objects-like pets, children, subscriptions, gift cards, appointments, and even related organizations, like schools or companies.
With pre-built objects to get started, and the ability to create your own custom objects, you can immediately unlock revenue-generating personalizations with a data model that matches your business needs-from storing pets and their details to profiles, to triggering flows on subscription dates or children's birthdays.
Our first pre-built data object will be order objects for Shopify customers. With this update, Shopify customers will have access to the new order object, allowing them to view order details at the profile-level and use past order information in campaigns. This means you can personalize campaigns with a customer's past order details in order to drive another purchase.
Note: Support for other ecommerce and custom integrations is coming soon.
Have any use cases you'd like to see supported, or want to chat with the objects team about getting on the limited availability list? Book time with our data objects team today.
Intuitive and insightful cohort analysis
Cohort reporting is designed to help you easily understand the behavior and timing of a specific group of customers, to help answer questions such as:
- After someone places an order, when will they place their second or third orders?
- If someone subscribes to SMS during BFCM, when will they make their first purchase?
We'd love to understand how you want to analyze and take action on cohort reports. Book time with our cohort reporting team today.
Full control with the custom report builder
With the new report builder, you'll be able to query your entire data set to create a custom report using any data, filters, and groupings. This advanced level of flexibility puts the power in your hands.
We'd love your feedback on the initial report builder, and what you're looking for with Klaviyo reporting in the future. Book time with our reporting team today.
Holistic, multi-touch attribution
Customer journeys are complex and varied. With multi-touch attribution, you'll be able to understand the influence of every email, text, or push someone interacts with-and recognize the impact of every interaction that leads to a sale, instead of just the most recent one. As a result, you'll be able to more effectively prioritize which programs to invest in and which ones to sunset.
Do you have feedback on how you use Klaviyo or other tools to track attribution? Book time with our multi-touch attribution team today.
Custom metrics in RFM and CLV
Beginning in mid-August, you'll be able to use custom metrics to train models that analyze and predict customer behavior-RFM (recency, frequency, monetary value) and CLV (customer lifetime value).
With the right metric, you'll be able to use more accurate insights in properties like "Current RFM group" or "Expected date of next order" to target segments and trigger flows, and do things like remove subscribers or $0 orders from your RFM model and CLV metric.
Data warehouse ingest
Coming in early August-a new guided experience to seamlessly pull in your data from your warehouse using SFTP, giving you more data to work with across every Klaviyo surface. With warehouse data, you can do things like combine historical purchase data from your ERP or POS system with real-time engagement data, or import custom properties from your warehouse to enrich profiles and use in personalization and segmentation.
Interested in getting early access and talking to our data orchestration team about your use cases? Book time with our data orchestration team.