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Benchmarks are useless
I’m noticing a dangerous trend where brands and marketers are obsessed with benchmarks and comparing themselves to others.
They say comparison is a thief of joy and that is 100% true.
Now, don’t get me wrong - I’m not saying you should accept where you are and never try to improve.
I usually preach the opposite - constant improvements and striving to improve 1% each day/week/month.
But comparing your brand to another brand is completely pointless.
Each brand is different, operates differently, has different funnels - and yes, even brands in the same niche selling the same/similar products.
I’m saying this from experience and having access to over 50+ Klaviyo accounts where email revenue is spread between 5% and 50% monthly email revenue.
What’s even worse is you probably don’t realize that there are things such as:
False/fake opens.
False/fake clicks.
Artificially inflated revenue from recurring subscriptions (yes, your emails attribute this revenue to your emails based on the opens as well).
Add exceptionally high attribution window and voila - this is how you can see unusually high attributed revenue.
There’s been dozens of times where brand was talking about their Klaviyo doing great and attributing 40% of the revenue.
Then I look at their backend - 30 day open attribution on email, 15 day open attribution on SMS and most of that revenue coming from recurring subscribers.
So on the surface, they were doing great but when we compared their revenue generated vs. attributed, things weren’t so colorful anymore.
Instead of obsessing with online screenshots, go into your Klaviyo account, see how YOU can improve and create a plan.
This is way better than trying to chase benchmarks that might not even be real.
Hope that helps.
Konrad
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More Resources
Automated List Cleaning System - save $100s every month on your Klaviyo bill by creating a system that automatically cleans your list, suppresses profiles and downgrades your Klaviyo plan. All in less than 15 minutes.
Ecommerce SMS Marketing Masterclass - add 5-15% in new, untapped revenue by setting up SMS. Inside you'll find the whole setup guide with copy & paste message templates for flows, campaigns and much more.