Measuring Flow Performance: How to Track Your Success
Imagine this scenario: you set up an abandoned cart flow a while ago, and your click rates have consistently hovered around 10%. You may think to yourself, “Fine. But what does that really mean?”
It’s important to keep in mind that context is everything. And to help you put your flows into context, here are some statistics on Klaviyo users’ flow performance. See how yours stack up.
First off, what are the most popular flows?
Here’s a quick breakdown of the four main flows customers use:
As you can see, abandoned carts account for the overwhelming majority of flows set up by Klaviyo users, with a healthy margin over new customer flows. This is because they’re extremely effective in generating revenue, which we’ll discuss at greater length below.
What about open and click rates?
Open and click rates correlate directly with conversions, so it’s important that you’re paying attention to them. They act as a barometer for how well your emails are performing overall and can alert you to any possible issues with your copy, subject lines, etc. A low open rate, for example, might indicate that your subject lines need improvement, or a low click rate might indicate that you need better copy.
|
Average Open Rate |
Average Click Rate |
|
| Abandoned Cart |
65%-70% |
7%-12% |
|
Welcome Series |
50%-55% |
9%-13% |
|
Win-Back |
58%-62% |
4%-7% |
Which flows make the most money?
This might be the metric you’re most interested in when you’re running an ecommerce store. As we’ve mentioned before, abandoned carts are on average the most lucrative flows, typically generating just under $5,000 per month. In fact, abandoned cart flows earn around $6.50 per email, which is about an 11X ROI for the average customer.
Welcome series, even though they’re the most infrequently used flow of the four, perform the second best at around $2,000 per month. So, if you’re not currently running a welcome series, we would recommend you start!
Conclusion
Now that you can put your flows into context, you should have a better sense of how well they’re doing. If you’re struggling to determine which flows are right for your business, A/B testing can be a great way to quickly track differences in open and click rates to optimize your flows. For more best practice tips and advice on which flows you should be sending, remember to check out our Feature Spotlight from a couple of weeks ago.
Are your flows performing better than average? If so, let us know why in the comments.
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