This article was originally featured on the Klaviyo Community Forums as part of Akers Digital's participation in the Klaviyo Champions Program. You can read it here.
DECODING BFCM DATA DELUGE
Analyze & Optimize Your Post BFCM Success
The Black Friday and Cyber Monday (BFCM) shopping extravaganza demands meticulous planning and execution to deliver successful campaigns. However, the story doesn't end with the last click. As the year draws to a close, businesses are presented with a valuable opportunity to explore and refine their strategies, ensuring sustained success beyond the BFCM rush. Let's dive into the BFCM data and uncover key metrics to effective post-campaign analysis and optimization.
Data Analysis:
Let's begin with digging into the data. It is important to understand customer behavior during the BFCM period.
Key metrics to analyze include open rates, click-through rates, conversion rates, and revenue generated from your email campaigns. It is essential to ask specific questions to gain deeper insights into your performance. Here are some questions to help guide your data review.
- Open Rates:
- What was the overall open rate for the BFCM email campaigns?
- How did open rates compare to previous campaigns or benchmarks?
- Did certain segments or audience groups show higher or lower open rates?
- What subject lines and preview text were most effective in driving opens?
- Were there any notable variations in open rates based on the timing of the emails?
- Click-through rates:
- What was the average click-through rate for the BFCM campaigns?
- Which links or calls-to-action had the highest click-through rates?
- Were there differences in CTR across different segments or customer groups?
- Did the use of images, buttons, or text links affect engagement?
- Conversion Rates:
- What was the overall conversion rate during the BFCM period?
- Were there specific products or categories that had higher conversion rates?
- How did the conversion rates compare to the goals set for the campaign?
- Revenue Generated:
- What was the total revenue generated from the BFCM email campaigns?
- Which campaigns or segments contributed the most to the revenue?
- How did the revenue compare to the costs associated with the campaigns?
- Were there any unexpected patterns or trends in the revenue data?
- What impact did discounts, promotions, or exclusives have on revenue?
Understanding Customer Behavior and Purchase Patterns: Don't overlook customer behavior and purchase patterns, as they hold valuable insights to inform and optimize your post-BFCM strategy.
- Segmentation: Categorize customers based on their behavior during BFCM. Identify high-value customers, on-time shoppers, and those who abandoned their carts.
- Purchase Patterns: Analyze what products were most popular during BFCM. This data can guide your post-BFCM email content and promotions moving forward.
Taking Action: Now armed with data and insights, it's time to take action and optimize your post-BFCM strategy.
- Email Campaigns: Creating email campaigns tailored to specific customer segments based on their behavior during BFCM. For example:
- Repeat Customers:
- Send a personalized thank-you message with exclusive offers to customers who made multiple purchases during BFCM
- Abandoned Carts:
- Craft targeted emails with incentives to encourage customers who abandoned their carts to complete their purchases.
- First-time customers:
- Welcome new customers with a special post-BFCM offer to encourage loyalty
- Automation: Setting up some automation email flows can be a game-changer for post-BFCM success. Set up email flows based on customer behavior, such as:
- Post-Purchase Follow-ups:
- Send automated thank-you emails and request reviews from customers who made a purchase during BFCM.
- Re-Engagement Campaigns:
- Identify customers who haven't made a purchase since BFCM and set up automated re-engagement emails with enticing offers.
Analyzing and optimizing your post-BFCM success requires a keen understanding of customer behavior and effective use of Klaviyo’s features. By leveraging data, segmentation, and automation, you can turn on the momentum from BFCM into sustained success throughout the post-holiday season and beyond.