Klaviyo's benchmark report takeaways and use cases

Today I want to take a look at Klaviyo’s 2024 Benchmark Report and dive into some of the report’s key takeaways and use cases. There is a LOT to unpack in this report, so I have decided to focus on automations, also known as flows. 

Automations continue to be the smartest investment of your time as a marketer. According to the benchmark report, automated flows can generate up to 30x more revenue per recipient (RPR) than one-time campaign sends -based on the difference between average RPR for email campaigns ($0.11) and average RPR for abandoned cart flows ($3.65).

Let’s take a look at the 3 top-performing flows globally, and unpack some more strategy around each of them.

Abandon cart flows

When it comes to revenue, abandoned cart flows are king, averaging $3.65 in RPR. The top 10% of merchants on Klaviyo, meanwhile, average $28.89 per recipient. Abandoned cart revenue is directly linked to the average order value (AOV) in your store, and the report lists average benchmarks for your specific industry. For example, the top 10% of merchants in hardware & home improvement see an average abandoned cart RPR of $75.66. Well-built abandoned cart series offer an incentive for abandoning a high-value cart in the second or third email. Be sure to include a conditional split to make sure the customer hasn’t received this coupon before.

You can also notify your internal team of high-value cart abandonments. For example, if a repeat customer abandons a cart that is 5x your AOV, you might want to notify your customer service team to give them a call and see if they need any help. 

Welcome flows

Welcome flows, on average, generate $2.65 for each recipient. And for the top 10% of Klaviyo merchants, average RPR increases to a whopping $21.18.

Well-built welcome flows include the incentive you promised in your sign-up form—who wouldn’t want to sign up for X% or $X off their first order? This incentive is a great opportunity for A/B testing.

We recently experimented with one of our customers to see which incentive would drive more sign-ups—10% off or free shipping on their first order. The 10% off coupon was the clear winner: we saw a 20% higher placed order rate, and AOV was more than $10 higher!

Finally, the welcome series is also a great place to share your brand story and mission. This will encourage people to buy into your story and what you are trying to achieve. 

Browse abandonment flows

Among revenue-driving automations, browse abandonment flows are the clear No. 3, with an average $1.07 RPR. While the intent of the customer is likely lower in the browse abandonment flow, this flow can still be an effective lighter touchpoint for customers who have viewed your products.

Well-built browse abandonment flows might look at targeting specific high-margin products with product information. For example, if a shopper browses a specific laptop, following up with frequently asked questions for people who are in the market for a laptop could be a good strategy. 

If you haven’t downloaded the benchmarks report yet, I highly recommend taking a look, especially at the benchmarks for your specific industry vertical. The report breaks down metrics by a number of different industries, enabling you to compare apples to apples.

You can also compare this data against your own by using the benchmarks report inside of Klaviyo.

-David Visser ( @DavidV) 

Resources available to keep learning: 

• Getting started with flows help center documentation
• Klaviyo Academy Playbook: Anatomy of a flow: Welcome series
• wStrategy Session] Engage Every Subscriber with Klaviyo Flows live training