Own Your Growth: Highlights from Klaviyo’s First-Ever Product Announcement
There’s a movement underway. A movement for brands and creators to do things on their own terms. A movement to be in control of your own destiny. A movement for ownership.
That was the theme of Andrew Bialecki’s opening remarks at Klaviyo’s first-ever product announcement event.
Once upon a time, if you had a dream to start a business, you could do it. But that’s always been an overly simplistic view of how entrepreneurial dreams actually come to life.
For far too long, creators who’ve dreamed of sharing their products, ideas, and talents with the world have been in the passenger’s seat of their own destinies.
Beholden by the rules of third-party marketplaces, and search and social algorithms that seem to change on a dime, creators have had to roll with the punches and scramble to find more dollars from a well that’s always about to run dry.
As someone who’s had a dream and built it into a billion-dollar business, Andrew (Klaviyo’s CEO and co-founder) lamented on the early stages of starting a business.
“I remember how much every dollar mattered in those early months and years,” he recalled.
Whether you’re an entrepreneur who’s just starting out or an iconic category leader, there’s one thing you have in common: You share a drive and an ambition to grow—and to grow through direct connections with your consumers.
So why should the channels beyond your control dictate how much you can grow, or how deeply you can connect with the very people who say they want to connect with you?
They shouldn’t. You should be in control. And that’s exactly why Klaviyo exists.
“We believe in technology that’s accessible to everyone. We believe in software that democratizes, that levels the playing field, so it’s important to us that Klaviyo is free for businesses that are just starting out,” said Andrew.
Hear more of Andrew’s vision and learn about two major product updates that take us a step closer to it.
Don’t have time to watch the event right now? Here’s what you missed.
A new channel to connect and communicate with customers
The first product announcement was the addition of a brand new channel for connecting and communicating with your customers: Klaviyo SMS.
Jake Cohen, Klaviyo’s head of customer marketing, explained:
“We believe that the best way to build a lasting business is to own your relationships with your audience. And we believe the best way to own relationships with your audience is to connect on your owned channels.”
“And owned channels are actually the world’s largest networks. More than half of everyone in the world uses email and text messaging—that’s more than any of the other social networks, and it’s not even close. We believe email is the first, largest, and most open social network and graph. And we see text messaging as the second.”
What is Klaviyo SMS?
A growing number of people are craving more personal ways to connect with their favorite companies. And that’s why brands are seeing unmatched reach and performance from text message marketing.
Klaviyo now has a best-in-class text message marketing platform paired with our industry-leading email solution. Together they create a single platform to help you deliver a better experience and build brand loyalty by connecting with consumers on their own terms.
Today, we announced that Klaviyo’s SMS platform now includes:
- SMS Conversations: Now you can text back and forth with your customers, and provide an even more personal and high-touch experience as they shop your website or ask questions about an order.
- SMS consent at checkout: Easily gather consent from your favorite site visitors—people who make a purchase—without using an incentive.
- Mobile-optimized signup forms: On a desktop, your customers can enter their phone number. And on mobile, they can click a button that lets them join your SMS list in two taps. Growing your subscriber list has never been this easy.
- Pre-built automations: Blend your email and SMS channels in the same workflow with pre-built flows (like a welcome series and abandoned cart automation). Not only can you choose the right channel for the right person based on the message, but you can see exactly which channel (and message) drove revenue.
- Month-to-month, profile-based billing: Flexible terms force Klaviyo to constantly prove its value to you instead of locking you into a long-term contract. Plus, your monthly spend will be predictable and you can experiment freely while ensuring you have plenty of messages to send to your SMS audience.
- Complementary toll-free numbers: Save money, send all your messages from one number, and scale how many messages you can send per second as your audience grows.
This is all in addition to the other features that make Klaviyo’s SMS marketing so powerful—from accurate multi-channel attribution and predictive analytics to automatic, built-in compliance.
With all the tools to help you grow your SMS audience and create relevant, personalized customer experiences, Klaviyo SMS was built for growing brands that need flexibility and transparency, and the guesswork taken out of compliance.
Want to cut through the noise and reach a highly engaged, opted-in audience through a channel with a clear and impressive return on your investment?
Focus on the right problems and make the right decisions
The second product announcement was the addition of personalized technology to help you focus on the right problems and make the right decisions for your business: Klaviyo Benchmarks.
Kady Srinivasan, Klaviyo’s head of marketing, explained:
“I’ve led marketing, product, and sales teams at a series of big and small companies. I’ve built teams, products, experiences, messaging—all of it—sometimes with crazy growth. But here’s a big secret. Most of the time, I’m guessing. I don’t have the answers and I don’t have the data, so almost every time, I’m making up the playbook as we go along.”
“Being responsible for driving the success of a company and not being able to make decisions based on data is scary. There’s a lot on the line. Over the years, I’ve developed a strong intuition for what can work and what won’t based on many successes and failures. But I would’ve loved something that helped fact check my intuition so I could be more confident in the decisions I was making. Frankly, it would have helped me focus on the right problems and reduce the number of times I’ve failed.”
“This problem is one of the main reasons I joined Klaviyo—because we’re solving it. We believe technology should not only be an enabler but also guide you towards focusing on the right problems and making the right decisions. Technology should help us understand how our tactics are performing and how that compares against what’s possible. Technology should also tell us what to do to improve, so we’re not shooting in the dark as much. Klaviyo is focused on building both of these critical components.”
What is Klaviyo Benchmarks?
Klaviyo Benchmarks gives you the tools to grade your growth so you can focus on the work that will have the biggest positive impact. In one click right inside Klaviyo, you can clearly see where you’re excelling and identify areas where you need to make some improvements.
Klaviyo Benchmarks compares your most important marketing and ecommerce metrics (such as your welcome series open rate and average order value) to brands that are most similar to your business.
Klaviyo is now the only platform in the world that offers personalized benchmarks built natively into the platform.
Today, we announced that Klaviyo’s Benchmarks platform now includes:
- New benchmarks every month: Your data is never out of date and you can track your performance against the latest ecommerce marketing trends.
- Peers most similar to you: Klaviyo sorts through the data of its 60,000+ customers to find 100 peers most similar to your brand, considering factors such as industry, monthly revenue, campaign frequency, growth, and average item value.
- Relevant reports: Not all marketing messages should have the same benchmarks. That’s why Klaviyo reports separately on campaigns and automations (flows). With them, you can go a step further and see the individual performance of the most important automations for ecommerce brands (i.e., welcome series, abandon cart, abandon browser, and thank you flows).
- Relevant metrics: Ever wondered if similar companies are driving higher average order values, for example? Go beyond benchmarking your marketing messages and explore key business metrics that are important to ecommerce brands (i.e., average cart size, percentage of orders returned, average order count, average order value) and prioritize the projects that have the most potential to help you improve those metrics.
Want to explore benchmarks for your business?
More possibilities at your fingertips
Software should be accessible to everyone. It should help you connect and communicate with your customers directly so you can own your growth. And it should help all of us learn and improve the experiences we deliver to our customers.
You know Klaviyo as the place you store all your customer data and put it to work in the email experiences you create.
Now, we’ve added first-class support for SMS and a way to connect with your customers on the two largest social graphs in the world—email and text messaging. These are relationships you own, and no one can take them away from you.
We also took our first big step towards Klaviyo becoming software that guides you and gives you a path with our release of personalized benchmarks and recommended actions, accessible directly in Klaviyo. We’re working to give you more confidence on what to do to be successful.
Like Andrew said, there are few things more important than connecting directly and deeply with your customers, and learning about how to improve how you spend your time and energy as a business.
Over the coming weeks, we’ll dig deeper into text message marketing and benchmarks. Stay tuned!
Want to see the new products in action? Watch the full product announcement event.
Ready to own your growth?