Price drop flows let customers know when products they’ve looked at lower in price. This can mean an easy sale for you, as customers love a deal — especially on items they actually want. These flows are also a valuable tool for marketers, as the messages typically receive high engagement and conversion rates.
This article explains how price drop flows work and how to set them up in Klaviyo. Note that the price drop flow will not send to anyone who has already purchased the item.
Price drop flows are only available for BigCommerce, Magento 2, Shopify, and WooCommerce stores.
How to Trigger a Price Drop Flow
Navigate to Flows > Create Flow > Create from Scratch. A modal will pop up where you can name your flow and add tags. Click Create Flow to continue.
Under Trigger Setup, select Price Drop.
In Klaviyo, price drop flows will trigger when a product drops by a set amount or percentage.
You must choose this number or percentage when setting up the trigger. You can adjust it at any point, but it will only apply to events triggered after you change it.
As soon as you select this, the Audience section will display. Choose who you want this flow to send to. There are three options, people who:
- Viewed the product
- Started checkout with that product in their cart
The “started checkout” option will include fewer people, but they will be more likely to convert, whereas the “viewed product” option will include a greater number of people who are less likely to make a purchase. The third option will pull in both groups.
Klaviyo will not pull in anyone who either:
- Purchased the product after the flow’s triggering event
- Viewed/started checkout when the item was at a lower price
These conditions are checked both at the trigger and before any messages send out, so you can be sure you’re not sending to those who have already purchased or only seen the lower price.
For this flow, only include people who have recently viewed or started checkout with the product — not anyone who’s done so over all time. By default, Klaviyo sets the time period as the past 30 days. To change this, click the dropdown menu under In the last.
Price Drop Flow Examples
Depending on how you want your price drop flow to work, you can set it up in various ways. Let’s start with a basic example that sends two messages: one right away and a reminder for those who haven’t made a purchase. For this flow, it will look like the following.
You can easily replace the emails with SMS messages. However, Klaviyo will only send a text to those who have explicitly opted into SMS and skip profiles without SMS consent.
Using Both SMS and Email
For a multichannel price drop flow, add a conditional split directly after the trigger to send those subscribed to SMS down one path and everyone else down the other.
Send to Non-Customers First
One of the largest dropoffs in the marketing funnel is when you try to convert someone into a customer. Price drop flows are a great tool for converting a website browser into a buyer. In Klaviyo, you can set this up by placing a conditional split directly after the trigger to send returning customers down a different path. Then, add a time delay before the message to returning customers.
The example below shows what this looks like for a price drop flow with both SMS and email messages.
Set Different Rules Based on Product
To set different rules based on a product’s price or category, you need to set up multiple price drop flows and then use filters to target specific items.
Say you want to change the message based on the item’s initial price and how much the price dropped. Perhaps on most items, you want to send a message whenever the price drops by at least 10%; however, say you have products that are under $20, you may instead want to send messages if you have a couple items under $20, and for those products, you want to send a message when the price drops by $2.00 or more. In this case, create two price drop flows and add trigger filters to target the products you want.
Price Drop Report
It’s important to monitor the performance of your price drop flow over time. To access this report, look at the flow’s trigger and then click Activity > View Price Drop Activity Report. You can export this report as a CSV.
The report will show the following in order of most to least recent:
- Product title
- Original price
- Reduced price
- Price drop timestamp