INNOVATION

Klaviyo – a reimagined CDP for businesses of all sizes

“Store, manage, and analyse customer data at scale”- klaviyo The marketing automation platform just released a CDP Update, enhancing eCommerce businesses Customer management and extending their service.Now, with Klaviyo, we are able to increase CLV with more personalisation and in dept analytics, while reducing total cost of ownership, increasing efficiency, and improving data accuracy. Let’s...

Last updated: 17 Aug 2023 - 5 mins read

Sophie Marketeer

CONTENTS

“Store, manage, and analyse customer data at scale”- klaviyo

The marketing automation platform just released a CDP Update, enhancing eCommerce businesses Customer management and extending their service.
Now, with Klaviyo, we are able to increase CLV with more personalisation and in dept analytics, while reducing total cost of ownership, increasing efficiency, and improving data accuracy.

Let’s dive deeper into the Update and what is possible with it:

First of all, what is a CDP in general? 

CDP – Customer Data Platform 

A Customer Data Platform is a specialised technology used by businesses to collect, organise, and manage customer data from various sources, with the goal of creating a unified and comprehensive view of each customer. This data can then be used to improve customer engagement, personalise marketing efforts, and enhance overall business strategies. CDPs have gained popularity as organisations seek to harness the power of data-driven insights to enhance customer experiences and drive business growth.

CDPs gather data from multiple sources and create a unified customer profile by linking and deduplicating data from various sources. With the unified customer profile, businesses gain insights into individual customer behaviours, preferences, purchase history, interactions, and demographics.

In essence, a Customer Data Platform plays a crucial role in helping businesses harness the power of customer data to enhance their marketing efforts, improve customer experiences, and make more informed strategic decisions. 

It’s important to note that while CDPs offer significant benefits, their successful implementation requires a clear strategy, data governance, and proper integration with other marketing technologies within an organisation.

Klaviyo’s CDP Update

Klaviyo divided their Update in two groups – Data features & Intelligence features. The most interesting part about this update is, that with Klaviyo, there is now an all in all Customer Data Platform, that can support your entire business with one single source of information, connected right away with marketing automation flows.

Data features

With enhanced data accuracy and a broad tech stack, personalisation is way easier to achieve.

Data Transformation 

Using Klaviyo CDP, you gain the capability to enhance segmentation and restructure profile information, regardless of the data source. No hosting or IT involvement needed anymore, which helps on the one hand improving data consistency and the other hand let’s you segment more effectively by editing values at scale. 

Group membership API

By querying a website visitor’s segment or creating a list membership you can easily personalise page content based on a Customers previous journey. With that you’re able to suggest specific blog posts, tailor pricing or even promotions for your customers.

Data warehouse syncing 

Effortlessly transmit customer data to an external warehouse or object storage on a consistent schedule. Within the Klaviyo CDP you’re able to get a 360-degree view of each subscriber and easily sync Klaviyo with other systems, gathering data in the most efficient way.

Webhooks 

Send real-time event data to any system in your tech stack. By now it’s possible to remove unsubscribed profiles from distribution lists, to keep just relevant data and work with that and enhance data analysis by sending engagement metrics to outside tools.

Anonymous visitor activity backfill 

As the name says – Klaviyo’s CDP will target window shoppers by using historical shopping behaviour to create an audience segment. That helps personalise automated marketing campaigns, such as eMail and SMS marketing.

Intelligence features

Dig deeper into your audience’s behaviour and enhance your businesses performance by strengthening your marketing strategy with the new Intelligence features of Klaviyos CDP. 

RFM analysis

The Klaviyo CDP groups customers based on recency, frequency, and monetary value. 

Like this it’s possible to create win-back campaigns and send personalised offers to get customers to purchase again. Based on that you can create specific marketing activities based on historical data. 

Funnel analysis 

Build personalised funnels derived from customer engagements. Understand the customer journey within these funnels to pinpoint areas of reduced engagement, aiding in the enhancement of flow efficiency and your cross-channel approach. Like that Klaviyo lets you improve your flow performance and optimise your omnichannel strategy. 

Custom CLV

By analysing old Customer lifetime values, Klaviyo CDP can predict future CLV in a more detailed way. With custom models, you can set for example a timeframe to identify top Black Friday customers or customers who are likely to buy soon and offer them a discount. 

Audience performance reporting

Generate audience segments and analyse their size, fluctuations, and conversion rates across different channels. This empowers you to quickly identify high-performing segments and take corrective actions to address any unfavourable trends. By identifying the segments for each channel it’s easy to see which segments are underperforming and test new flows there. 

Check out Klaviyo.com for deeper insights and get a demo of the new CDP of the marketing automation tool.

We at Flatline Agency, official Shopify Plus Partners, are here to help you take your business to the next step, including custom development, design, and marketing. If you are interested, please feel free to contact us.

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