In this video, I am going to be discussing the new feature in Klaviyo and showing you how to use the price drop in Klaviyo. I will share with you what I would do for pricing strategies when the person chooses an item or last checked out settings.
Now let’s go to Klaviyo, let’s click on Create a flow and they might already have the template for this price drop. Yeah.
Just for fun let’s create it from scratch. Let’s name the flow “Price drop” and click Create.
And in the Triggers we can find a Price drop. Okay, so click on it. And we have two options:
- by the amount,
- by percentage.
I personally believe by percentage is better but that is up to you. I would recommend between 5 and 10% of the price drop. But again, it’s up to you and up to your strategy.
Then we have three options for the audience:
- a person who views a specific product,
- started checkout with the specific product,
- viewed an item, or start the checkout.
So basically, any of those.
So the last one is the best one I personally believe. And then when was the last time they check it? Like how far, so 30 days, I believe between 30 to 60 days is good. 30 days is default. So let’s keep it as the default.
Okay, so now let’s say you have a product for a $100, it drops by 5%. What 5% discount and then your product is $95. You can send an email to everybody and it’s probably standard one.
However, you can even go further and what you can do, it’s a conditional split. It’s, let’s say Placed order, Zero times, Over all time.
So basically you can craft two emails to people who purchased from you in the past and who never purchased from you in the past. So people who never purchased maybe you can urge them or make it more like harder sell to convert them.
But for people who already your customer, just it’s a sold. Like: “Hey, by the way, you were checking this product, or you were adding to the cart and we discounted the price was dropped. And maybe you want to take advantage of that and use and buy the product”.
Email campaign creation is a long and complicated process. The key is to streamline it – so you know exactly what you need to do at each stage. We have a Campaign checklist, where we share step-by-step instructions on how to create your campaigns in a more efficient way.
So it’s up to you. Again, it all depends on your strategy, but this is how you use the new feature inside of Klaviyo.