4 Klaviyo Reports to Track in Your eCommerce Strategy

4 Klaviyo Reports to Track in Your eCommerce Strategy
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In the last year, Klaviyo has made rapid and significant improvements to their reporting capabilities. What was once a weakness of the platform is quickly becoming a strength.

In this article, I’ll share some of my favourite reports we use at Magnet Monster to track performance for all our DTC clients.

Tracking Email Marketing Metrics that Matter

Before I get into the reports, it’s important to establish some context around what you’re tracking.

Each brand can differ significantly here depending on their goals and aspirations.

Ultimately, however, you could argue that everybody has the same core goals from their email marketing program: to maximise profitable revenue from the maximum number of recipients.

Assuming this to be true for 99% of readers to this blog, I’ll be focusing this article on the metrics that will provide insights into how your strategy is performing across flows and campaigns, both via email & SMS inside Klaviyo.

Generally speaking, we’ll be looking for trends and aggregated data across

  • Deliverability (more eyeballs on your emails = better reach and revenue)
  • Engagement (clicks, and to a lesser extent, opens)
  • Revenue (and Placed Order volume, AOV, etc)

There are 4 reports I use within Klaviyo each week, month, quarter and year to track these, and they can be automated very quickly to populate these metrics in your account without any arduous work in the dashboard.

I consider these reports “macro reports”. You can go much more granular than these templates, but most of the time, it’s not worth it, unless you’re dealing with a highly sophisticated account with a huge volume of data.

Your goal is to keep your eye on trends and opportunities that will truly move the needle from a performance perspective and not get bogged down in menial statistics that won’t make a significant difference.

A final note before we begin: at Magnet Monster, we’ve developed our own bespoke reporting solution for our clients that doesn’t operate inside Klaviyo. We pull the data into an external dashboard as it provides us with more context into how our strategy is reporting. In this article, however, we’ll be using Klaviyo’s default reporting solution.

Let’s dive into it and show you how to set them up.

First: Tagging is Your Secret Weapon

Before we go over the reports, I want to emphasise the critical importance of setting up an effective tagging system within Klaviyo.

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster

Tags can be used to group flows, campaigns and content-types, which will help you filter more efficiently in your reports to track progress.

Examples include breaking the customer journey up into pre-purchase VS post-purchase, and differentiating sales campaigns from content.

A cohesive tagging structure helps you stay organised and drill down more efficiently into your content types.

I recommend utilising tags in all of the aforementioned reports to provide more context into what you’re looking at.

1: Flow performance report

Flows are the foundation of your email & SMS marketing strategy, so we’ll want a birds eye view of how they’re performing at any given moment and to analyse trends in performance.

Out of all of Klaviyo’s reporting capabilities, I consider their flows the weakest.

This is partially due to the UX of the platform and also due to how dependent they are on tags in order to derive meaningful insights from each flow message.

Often, I find myself simply clicking directly into a flow to observe its performance as opposed to using their out-of-the-box reports, due to the poor UX.

However, for a quick overview on Flow Performance, you can use something akin to the following:

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster
Screen grab of a eCommerce email flow performance report in Klaviyo

It’s worth reiterating here that unless you use a tagging structure and clear naming convention, this can often throw up a very messy, indecipherable set of statistics.

We tend to lean heavily on our own reporting system outside of Klaviyo for flows, but if you have to use their own internal analytics, this is the best I’ve used so far.

2: Campaign performance report

Campaigns are a massive revenue driver for most eCommerce brands so it stands to reason you’ll want to pay close attention to monthly, quarterly and annual trends within the account year over year.

This is a high level overview of how I set my email reports up within Klaviyo for ongoing monitoring of campaign performance:

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster
A screen grab of a campaign performance report in Klaviyo

I can then get a snapshot MoM like the following (hard to fit this on the screen so apologies if the image is small:

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster

Of course, it’s extremely difficult to visualise trends in this type of format. That’s why you’ll probably want to export the raw data into a pivot table in Excel or another external visualisation tool to really be able to understand key trends.

If you have the time, however, this report will at least enable you to observe any freakish changes that your account may be going through that are cause for concern or uptick in performance.

Adjusting the timeframe in this report to monthly as well as filtering by campaign will also allow you to see the specific performance of individual campaigns you send over the course of the month.

3: Deliverability ISP report

This viewport enables you to drill down to see if there are any concerns by email domain you need to pay attention to.

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster
Screen grab of a Deliverability ISP report in Klaviyo

Although the UX on this dashboard isn’t great and is missing a lot of filtering options, you can at least quickly observe here where you’re missing opportunities and have cause for concern.

In the example above, it’s clear that some investigation is required around hotmail for this brand, and it’s potentially eroding returns through worse inbox placement than other domains.

4: List growth report

The final report I like to track diligently is the list growth vs churn report.

There’s numerous ways to track this in Klaviyo, but a quick custom report run that updates daily in your dashboard is sufficient for most.

4 Klaviyo Reports to Track in Your eCommerce Strategy | Magnet Monster
Screen grab of a list growth report in Klaviyo

Why is this report important?

Quite simply, the only way to scale your email performance is by continuously acquiring more customers than you churn over the channel.

And while there’s more that goes into this (specifically, engagement and strategy of these leads), as long as this growth remains net positive, it’s safe to say you’re heading in the right direction.

I have observed on many occasions that when this growth reverses, you start to see stagnation across the account and performance decline.

You can also track Klaviyo list growth from within the “Lists & Segments” column on the dashboard, but critically, you need to maintain a single list to track these metrics effectively.

Final Thoughts

If you manage SMS on Klaviyo then all of the reports generated above for email have the option to run SMS through them as well.

Klaviyo’s reporting still has a long way to go to be a standalone solution, and it still focuses too much on revenue within isolation on the channel to be used in a silo. However, the sheer range of data and your ability to interpret them contextually as a marketer is improving dramatically, and these reports can provide you with a high-level overview into the health of your overall email & SMS marketing strategy.

If you found this article useful, follow me on Twitter and LinkedIn where I break down eCommerce email marketing strategies we use with our clients daily. Check out our newsletter too for more insider insights into email marketing.

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