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SCOUT ANALYTICS DEBUTS SCOUT USAGE DATA HUB TO UNCOVER HIDDEN REVENUE OPPORTUNITIES FOR SUBSCRIPTION BUSINESSES
New Quick-Start Offering and Predictive Analytics Features Empower Subscription Businesses to Identify Untapped Revenue Opportunities in Days Rather than Months
Seattle, Wash. – March 20, 2013 – Scout Analytics™, the leader in cloud-based recurring revenue management, today launched Scout Usage Data Hub, a powerful analytics platform that transforms usage data into actionable metrics and custom reports. The company also unveiled new predictive modeling and segmentation capabilities within its Yield, Rate Plan and Customer Success Optimizers that empower marketing, sales and customer success teams to reduce churn and maximize customer lifetime value. With these features, subscription businesses are able to identify retention risks and up-sell or cross-sell opportunities to increase revenue by 10-15 percent.
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Cloud and mobile computing have fundamentally disrupted the revenue model, and made it easy for customers to adopt or retire subscription services as they desire. In fact, IDC Research predicts that by 2020, over 80 percent of applications will be distributed and/or deployed via the cloud. In this Subscription Economy, customers do not pay for owning a product but for the value they receive from the service. To achieve success in this dynamic new world, companies must understand a customer's perception of product value by leveraging usage data, and then align product packaging, pricing and promotions to increase satisfaction and reduce churn.
“The cloud and as-a-Service industries are rapidly expanding, making customer acquisition and retention more competitive than ever,” said Paul Burns, president at Neovise. “The dynamics of monthly recurring revenue means subscription businesses need to be responsive to their customers. The ability to harness usage data presents a significant competitive advantage to subscription businesses as it is key to understanding how to engage a customer and maximize value.”
Scout Analytics is the industry’s first integrated solution that utilizes customer usage data and predictive analytics to identify revenue opportunities for subscription businesses. New solutions and capabilities include:
Scout Usage Data Hub: A quick-start solution for recurring revenue management that enables businesses to rapidly aggregate and integrate up to two years of historical customer usage and subscription data. With this customer data, staff across marketing, sales and customer success can identify retention risks or cross-sell and up-sell opportunities to increase revenue by 10-15 percent. Highlights include:
§ Codeless Data Integration: Attribute usage to a particular subscription, user or customer via an automated data integration pipeline eliminating the need for dedicated IT resources
§ Recurring Revenue Metrics Library: Offers a broad range of metrics to track or compute customer usage and revenue
§ Recurring Revenue Opportunity Analysis: Segment, sort and filter monthly recurring revenues (MRR) by product, subscription, customer and usage data to find untapped revenue opportunities
§ Customer Explorer: Sales and customer success managers can explore all the usage across a customer’s subscriptions to determine how to best negotiate and/or intervene in order to maximize customer lifetime value
§ Report Center: Quickly create, retrieve, modify and/or share visual reports for at-a-glance analysis and immediate action
§ Scout® Link: Seamlessly connect Scout Analytics data to CRM, billing and marketing automation solutions to drive workflows and decisions
Predictive Analytics for Scout Optimizers:
§ Predictive Modeling and Segmentation: Create customized reports and models based on propensity metrics for churn, up-sell and trial conversions
§ Playbooks: Guides and best practices on renewal yield and churn prevention to execute successful recurring revenue management programs
“Scout Analytics helps drive competitive advantage and ensure customer satisfaction by enabling our staff to understand the relationship between subscription prices and customer usage. This analysis enables our marketing, sales and customer success teams to uncover revenue opportunities and intervene appropriately with at-risk customers,” said Randy Charles, president at Elsevier Business Intelligence. “By leveraging Scout Analytics, we can increase both customer satisfaction and account management productivity.”
“We’ve calculated that subscription businesses are missing a staggering $40 billion or more in revenue opportunities each year,” said Matt Shanahan, senior vice president of strategy at Scout Analytics. “Usage data is the foundation to understanding customer value and identifying hidden revenue opportunities. Scout empowers businesses to intervene with high risk customers, and turn up-sell or cross-sell opportunities into revenue.”
Scout Analytics provides the first integrated suite of recurring revenue management solutions. Once usage data has been collected and analyzed, customers can adopt individual Optimizers or expand to the full solution suite. Scout Usage Data Hub is available immediately and starts at $1,500 per month. Individual Optimizers start at $750 per month.
Scout Analytics will host a webcast on Predictive Analytics for Sales along with a virtual demonstration of the Usage Data Hub solution and new predictive analytics features on Wednesday, Mar. 27 at 8:30 a.m. PT. Hosted by Mari Strom, director of marketing at Scout Analytics, the webinar will provide step-by-step guidance for how sales, marketing and customer success teams can utilize the new capabilities to identify revenue opportunities. To register, visit http://scoutanalytics.com/events_online.php?nx=26. For more information on Scout Analytics, visit www.scoutanalytics.com.
About Scout Analytics™
Scout Analytics is the leader in cloud-based recurring revenue management solutions. Scout Analytics’ unique solutions allow subscription businesses to put usage data to work to improve sales, support, and marketing productivity. Scout Analytics is a venture-backed company headquartered in Issaquah, Washington. To learn more about Scout Analytics, visit www.scoutanalytics.com or call 425.649.1100. Scout Analytics is a trademark of Scout Analytics, Inc. Scout is a registered trademark of Scout Analytics, Inc.