Unlocking The Power Of VIP Customer Recognition With Klaviyo
In ecommerce, it’s vital to know your customers. But, even more crucial is identifying who amongst them are driving your success. Recognizing and nurturing your top-spending customers can transform their loyalty into prolonged growth for your organization. The original article is a well-rounded guide for using Klaviyo’s resources to identify your customers’ lifetime value (CLV).
Bottom Line: This article is a game-changer for ecommerce businesses seeking to deepen their understanding of customer behavior, build rapport with their top spenders, and give a boost to their long-term revenue.
Keeping an eye on industry trends, it’s reasonable to predict the importance of individualized marketing and customer segmentation will only increase. Advancements in AI and machine learning could potentially automate the identification and targeting of top customers, further optimizing this process.
Identifying Top-Spending Customers with Klaviyo
Sophisticated insights lie in our customers’ spending habits which can be unlocked using Klaviyo’s Profiles API. Adopting this strategy, you make the most of dynamic segmentation for marketing strategies that resonate with your audience.
Highlighting the value and loyalty of your premium customers, and nurturing those relationships through personalized experiences is a time-tested strategy for boosting long term returns. You don’t just ensure they stick around, but also keep them excited about your brand.
Calculating Customer Lifetime Value – An Overview
Klaviyo has a robust mechanism for computing both historic and anticipated future Customer Lifetime Value (CLV). This data forms the foundation for treating your loyal, top-spending customers like the VIPs they are.
CLV Availability and Application
Access to CLV data is a given with Klaviyo, stemming from predictive analytics and stored as properties on a customer profile. Although identifying the characteristics that set your best customers apart can be a tall order, Klaviyo smooths the way with tutorial guidelines like this one.
Once you’ve calibrated the top customer groups (such as the top 25% based on historical spend), you can leverage this detailed demographic for one-on-one marketing strategies.
Execution – Step By Step Process
Follow these steps to utilize the Profiles API in Klaviyo:
1. Get the historical CLV for every profile in your account with the Klaviyo Profiles endpoint by paginating through the data because of the 100 profiles per pull limitation.
2. Compute the percentile of your non-zero CLVs for identifying a %-age of customers (like top 25%).
3. Define a segment using **Properties about someone > Historic CLV > is at least _____** where the blank is replaced with the number derived from step 2.
4. Keep updating your segment periodically as your dataset grows with every new order.
Python Scripting for Easy Execution
More technical users can carry out steps 1 to 2 faster and easier using the Python script below:
(Please refer to the Python script in the original article.)
After identifying your high-value customer segment, consider rewarding them with:
- Pre-launch product previews
- Privilege to provide feedback on new releases
- Invitations to exclusive events
- Special offers or coupon codes as a token of appreciation
Deploying a VIP treatment for your top-spending customers guarantees their long-term loyalty and a solid relationship with your brand.
