Klaviyo Unveils New Marketing Automation Innovations with Personalized Benchmarks Tool and Conversational SMS – Business Wire

BOSTON--(BUSINESS WIRE)--Today at the companys virtual product launch event, Klaviyo, the leading customer data and marketing automation platform, unveiled two new products to support the growth and success of its customers, Personalized Benchmarks and Conversational SMS. Personalized Benchmarks is a tool that offers merchants data-driven insights on marketing efforts, comparing performance to their peers, and offers tangible recommendations for improvement. A new version of Klaviyos conversational SMS marketing platform helps online brands to communicate with customers in fast, casual format.

We continually use data to inform and evolve our technology, guiding retailers to better performance and results. Because our platform can bring in and analyze massive amounts of data from ecommerce platforms and about customer engagement, brands are able to create personalized experiences and improve the customer experience, said Andrew Bialecki, co-founder and CEO of Klaviyo. Benchmarking how you are doing against your peers gives relevant insight into where real possibilities lie. Being able to communicate with customers on the platform they prefer helps to deepen frequency and quality of engagement.

Benchmarks for Growth

The Personalized Benchmarks tool is built natively into Klaviyos platform and evaluates the performance of online businesses in comparison to other similar brands. The function was born out of customer requests asking for performance feedback. Previously solved manually via customer service representatives, Klaviyo developed technology to automate and scale these data-driven insights.

Data is aggregated from Klaviyos more than 65,000 global customers, which span from small businesses to Fortune 500 companies. A report is created keeping other brands' identities anonymous and is customized for merchants based on six key business attributes: industry, average price point, revenue, growth rate, channel, and frequency. The metrics are delivered via Klaviyos Benchmarks dashboard and offer visibility into where individual businesses are performing strongest, and where there are opportunities for improvement. The tool also offers suggested courses of action. Merchants can better understand how they competitively fare on average order values, open rates, click-throughs and abandoned carts, which can be used to inform and prioritize future marketing efforts.

Comparing your brand to others within your cohort is essential, continued Bialecki. A small business with less than 50 SKUs looking at data and best practices from a Fortune 500 company with thousands of SKUs is irrelevant and useless. By providing a true benchmark, online merchants can make smart decisions and deliver positive results.

Omni-Channel Customer Engagement

Klaviyo empowers entrepreneurs and online businesses to deliver customer experiences that produce measurable results without relying on platforms like Facebook or Amazon. Klaviyo provides direct access to customer data in a single source and allows brands to communicate via multiple channels such as email and SMS from one intuitive platform. Klaviyos SMS marketing product was introduced in 2020 to allow e-commerce retailers a faster, more intimate way to reach customers and initiate conversations when they are most likely to engage with the brand. Today, the addition of Conversations improves the mobile-first experience and further personalizes brand and customer exchanges over SMS. The feature allows real-time text responses within the platform, so retailers dont need to move between various software dashboards to collect information and respond. The functionality is built-in, with data and action residing together on the platform.

Additional Text Messaging updates include:

Headquartered in Boston, Klaviyo employs more than 600 people. It has raised $358.5 million in funding to date, from lead investors Summit Partners and Accel. Klaviyo continues its rapid growth through R&D, hiring, increased sales, customer support and international expansion.

ABOUT KLAVIYO

Klaviyo is a world-leading marketing automation platform dedicated to accelerating revenue and customer connection for online businesses. Klaviyo makes it easy to store, access, analyze and use transactional and behavioral data to power highly targeted customer and prospect communications. The companys hybrid customer-data and marketing-platform model allows companies to grow by fostering direct relationships with customers, without giving up their valuable data to Facebook or Amazon. In 2020, Klaviyo reached coveted unicorn status with a robust Series C of $200m at $4.15B valuation. Over 65,000 innovative companies like Unilever, Custom Ink, and Huckberry sell more with Klaviyo. Learn more at http://www.klaviyo.com.

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Klaviyo Unveils New Marketing Automation Innovations with Personalized Benchmarks Tool and Conversational SMS - Business Wire