Boost Your E-commerce Performance with Klaviyo’s Custom Reports

August 21, 2023

Data-driven decisions are the backbone of successful e-commerce strategies. With Klaviyo’s custom reporting tools, you can gain deep insights into your marketing efforts and customer behaviours.

This blog will guide you through the steps to create a custom reporting strategy, showing you how to leverage these powerful tools to enhance your business’s performance and drive growth.

Understanding Custom Reporting Strategies

So, what exactly is a custom reporting strategy? A custom reporting strategy is like your plan for understanding and improving your business’s performance. Your custom reporting tools live in the Analytics tab. To access custom reports:

– Navigate to the Analytics tab.

– Select Custom Reports.

This is where you’ll access all the data you need to analyse your brand and marketing efforts.

What do custom reports allow you to do?

Custom reports let you analyse how your brand and marketing are performing. They’re flexible so you can adjust them as your business grows and changes. Whether you want to track customer interactions or improve your marketing efforts, custom reports have you covered.

Importance of Custom Reports in E-commerce

Think of Klaviyo custom reports like a GPS for e-commerce email marketing. Whether you’re a startup or a big brand, these reports give you the details you need to make smart decisions.

But it’s not just about emails. Klaviyo covers SMS, website analytics, Shopify emails, and more. What’s the benefit? Simple—more data, more insights, more growth.

Here’s what Custom Reports offer:

Multi-Channel Analysis: See how your emails, SMS, and website are doing all at once.
Data Integration: Easily combine info from different platforms.
Customization and Automation: Tailor reports to your needs, automates them, and shares with your teams.
Contextual Analytics: Track metrics alongside related campaigns.
Performance Benchmarking: Compare your metrics to industry standards.

How can you get started with custom reporting?

To get started with custom reporting, Klaviyo offers five starting points to help you build key reports quickly. However, having a strategic approach before diving into report creation will help you maximise the tool’s potential.

Next up, you’ll learn how to:

Plan: Figure out what info you need and how to get it.
Implement: Put your plan into action using metrics or reporting strategies.
Analyse: Look at your data to see what’s working and what needs adjusting to help your business grow.

Note: With Klaviyo, you can get straightforward reports to see how your campaigns, flows, or sign-up forms are performing individually.

Step-by-Step Guide to Building a Custom Reporting Strategy

Step 1: Planning Your Reporting Strategy

Identify Business Questions

Before diving into report creation, outline the business questions you aim to answer. Consider questions like:

Which products sell the most, and which ones are returned often?
Which types of email campaigns drive the most engagement and conversions? Do certain customer groups consistently affect specific metrics?
What product categories perform best each month?
How do seasonal changes impact sales?
Are there any significant fluctuations in key performance indicators month-to-month?

These questions will help you create a tailored list of insights specific to your business. Once you have your list, think about the reports you need to answer these questions effectively.

Step 2: Implementing Your Plan

Using Klaviyo’s Custom Report Types

Klaviyo offers several report templates to jumpstart your analysis. These include:

Single Metric Deep Dive Report: Focuses on one specific metric.
Multi-Metric Report: Analyses multiple metrics simultaneously.
Campaign Performance Report: Evaluates individual email campaign performance.
Flow Performance Report: Reviews automated email flows.
Product Performance Report: Assesses product performance across key metrics.

To access custom reports:

Go to the Analytics tab.
Click “Create Custom Reports” in the top-right corner.
Choose the report type from the dropdown menu. For strategies on each report, check the sections below.

Note: With iOS15 and other updates, Apple Mail Privacy Protection (MPP) changes how open rates are tracked, preloading Klaviyo’s tracking pixel. This might inflate open rates. To verify, generate a custom report with an MPP property or segment your subscribers accordingly.

1. Single metric deep dive report

The Single Metric Deep Dive Report allows you to concentrate on a single metric and analyse it in detail by utilising both metric and profile property data, providing a comprehensive understanding of behaviour patterns. Here’s how you can effectively utilise and customise this report:

Check Seasonal Performance:

See how things change with the seasons. Maybe you’ve got a new spring collection and want to know how it’s doing. You can use this report to track metrics like Placed Orders or Opened Emails and see how they’re affected by seasonal shifts.

It’s a great way to figure out what’s working and what’s not, especially during different holidays.

Understand Your Customers:

Ever wonder why some customers seem more interested than others? This report helps you break down customer behaviour by things like gender. For example, if you’ve got different marketing messages for men and women, you can use it to see how they respond to emails. Simple!

Spot Return Trends:

If you’re seeing more returns lately, this report can help you figure out why. Pick a metric like Refunded Orders and see when returns spike. Then, dive deeper to see which products are causing the most returns. Maybe there’s a problem with the product description or sizing. This report helps you get to the bottom of it.

2. Multi-metric report

The Multi-Metric Report acts as a comprehensive dashboard, consolidating vital business and marketing data for streamlined analysis. Here’s how you can effectively utilise it:

Understanding Audience Growth and Trends:

The Multi-Metric Report allows you to monitor multiple metrics simultaneously and categorise them based on various profile properties. For instance, you can track changes in audience size and analyse the effectiveness of different acquisition channels.

By grouping metrics such as subscription lists and unsubscribes by acquisition sources, you can pinpoint which channels contribute to growth and which ones lead to attrition. You can also segment the data by country, gender, loyalty tier, and more to spot trends in different customer groups.

Analysing Company Performance:

The multi-metric report also enables you to assess your company’s performance across a range of metrics over a specified period, such as a year. By selecting relevant business metrics and setting the time frame to display results from the past year, sorted by month, you can visualise your company’s growth patterns and identify areas needing improvement.

This comprehensive analysis helps you make informed decisions for future strategies and optimizations.

Benefits of the Multi-Metric Report

Using the multi-metric report gives you a comprehensive view of your business performance. It helps you:

Identify Trends: See how different channels and customer segments are performing.
Make Informed Decisions: Use data to guide your marketing and business strategies.
Spot Opportunities: Find areas where you can improve and grow your business.

3. Campaign performance report

The Campaign Performance Report provides a detailed analysis of your marketing campaigns, grouping data by campaign and presenting standard metrics that can be tailored and filtered to track performance over time. Here’s a breakdown of its key features and how it can be applied:

Monitor how different variations of a campaign perform

The Campaign Performance Report allows you to compare different versions of your campaigns. If you are conducting A/B tests, this report helps you analyse how each variation performs in terms of engagement and conversions. This comparison helps you determine which approach works best for your audience.

Analyse holiday marketing campaign performance

Using the campaign performance report can give you valuable insights into how well your holiday-specific strategies worked.

For example, if you ran special promotions during Black Friday or Cyber Monday, it’s important to keep track of how they did. Understanding the performance of these promotions can help you identify what worked well and what didn’t, so you can adjust your future holiday marketing efforts accordingly.

To get started, create a tag specifically for “Black Friday / Cyber Monday” and filter your report to only include campaigns with this tag. This way, you can focus on evaluating the impact of these particular promotions.

And don’t forget, you can use multiple tags simultaneously by using the AND connector in the dropdown menu. This allows for more precise filtering, ensuring that only campaigns meeting specific criteria are included in your analysis.

Review your campaign performance for the year

You can create a campaign performance report to review your campaigns from the past year. This end-of-year review helps you understand how well your campaigns performed across various important metrics for your business. The data will be organised into tables, which you can export for future reference.

You can customise the report to include the metrics that matter most to you, but generally, your report might include something like this:

4. Flows performance report

The flows performance report provides detailed insights into the engagement and conversion metrics specific to your flows. Just like the campaign performance report, you have the flexibility to customise your report by selecting the metrics you want to analyse and applying tags and time range filters to focus your analysis.

Here are some use cases to inspire you when creating your own reports:

Tracking Flow Deliverability During Account Warm-up

Keeping an eye on your deliverability is crucial, especially when you’re warming up your account for sending emails. Instead of jumping straight into campaigns, it’s smart to start with flows as they tend to have better deliverability rates. This approach helps you build a good sender reputation with email providers like Gmail and Yahoo.

To track your progress during this warm-up phase, create a Flow Performance Report focusing on key deliverability metrics. This way, you can see how your reputation is improving week by week and know when it’s time to start sending campaigns.

Monitor flow sending activity

You can track your flow sending activity effectively with the flow performance report. This report allows you to concentrate on various engagement and conversion metrics. Include essential engagement data from the Standard Metrics section in your report to monitor engagement trends over time.

Then, organise your report by month, week, or day to observe any changes in sending activity compared to your typical patterns. This analysis helps you understand whether your flows are experiencing increased or decreased sending activity, providing valuable insights for your strategies.

Track your yearly flow performance

If you schedule an end-of-the-year review to evaluate flow performance across various metrics, this report is ideal for organising your data. Customise it to include the flow metrics most important to your business.

You can set the report to break down data monthly or display a single number for the entire year range, ensuring a clear and comprehensive overview of your flows’ annual performance.

5. Product performance report

The product performance report allows you to analyse how your products are performing across key metrics such as browsing, checkout, and purchase.

Consider the following points when building your report:

Identify top-performing products or collections:

Use the report to understand how your products and collections are doing over time. Look at metrics like “Viewed Product” and “Started Checkout.”

If you notice high views but low checkouts, investigate factors like pricing, availability, or sizing. For products with many checkout starts but few purchases, consider adjusting your checkout page or abandoned cart strategy.

Also, analyse subscriber data to see if they’re viewing products without starting checkout, and consider adding a popup to encourage them to stay on the page before leaving.

Identify Your Best-Selling Product

To pinpoint your top-performing product, hone in on conversion metrics to track purchase behaviour over time for a specific product or collection. Pay close attention to historical data on completed orders to grasp which products generate the highest conversions. Utilise these insights to differentiate between products that sell well and those that don’t.

Furthermore, contemplate how this knowledge can inform adjustments to your marketing content and promotional strategies.

Assessing the Performance of Limited-Time Offers, Sales, or New Products

Focus on a particular product or promotion within a defined timeframe. This approach is beneficial for evaluating the launch of a new product or the presence of a limited-time offer on your website.

Analyse audience engagement with the product using various conversion metrics to ascertain whether the desired objectives of the initiative have been achieved, providing a comprehensive overview of its success.

Step 3: Take Action Based on Your Insights

Now that you’ve compiled your report, it’s time to leverage it effectively. Share it with your team to ensure everyone is aligned, reassess your marketing strategies, and drive your business forward. Identify areas where you’re not resonating with your audience and swiftly implement changes to enhance performance. Continuously monitor industry benchmarks to gauge your progress.

If certain products are underperforming while others excel, consider refining your marketing messaging or adjusting product offerings accordingly. Address any declines in key metrics such as open rates or sales promptly by refining your marketing approach.

Conversely, analyse successful initiatives to understand what contributed to their effectiveness. Replicate successful strategies and capitalise on momentum by expanding on what works best for your audience.

In terms of enhancing your marketing content, explore the following strategies:

A/B Testing for Flows, Campaigns, and Sign-up Forms: Experiment with different variations of your emails and forms to identify the most effective approach for your audience. Use these insights to optimise your future content.

Advanced Segmentation: Enhance your audience segmentation strategies across all channels to better tailor your messaging. A deeper understanding of your customers will enable more targeted and impactful marketing efforts.

To sum it up, Klaviyo’s custom reporting tools offer businesses a comprehensive solution for analyzing marketing performance and customer behaviors. With the ability to tailor reports to specific needs and automate processes, businesses can streamline their operations and achieve greater efficiency and effectiveness.