ServiceSource® (NASDAQ: SREV), the global leader in recurring revenue management, today announced integration of Scout® Link with Marketo to offer a solution for orchestrating end user engagement to create customer success leveraging Marketo’s marketing automation platform. Powered by Scout’s industry-leading predictive analytics, the integration leverages user and subscription-level analysis based on usage, customer health and subscription administration, and then automates communication to end users to increase engagement with a product or service. These capabilities allow customers to extend marketing automation systems beyond traditional use cases to create loyalty and value, reduce churn and grow revenue. Scout will also host a webcast on “The Missing Links in Your Customer Relationship” on Wednesday, March 12 at 8:30 a.m. PT. To register, visit here. Traditionally, business-to-business (B2B) companies have managed customer success using manual, face-to-face, email and phone communication. In the subscription economy where customer purchase behaviors are shifting to pay-to-use, end user adoption and advocacy are critical – making this mode of communication unsustainable and obsolete. Research using Scout data shows that in the subscription economy, end user adoption and ongoing usage patterns directly impact whether a customer will renew their subscription, or churn. As a result, understanding usage at user and subscription-levels, and effectively nurturing adoption for each end-user, is the key to customer success and retention as well as accelerating recurring revenue growth and profits. “Managing leads to revenue shouldn't end with a signed contract but should continue across the entire customer life cycle. It's about turning leads into long-term loyal customers,” said Laura Ramos, vice president and principal analyst at Forrester Research, Inc. “Customer marketing is nothing new. We talk about it using terms like retention, loyalty, churn reduction, cross-sell, upsell, repeat purchase rates, and wallet share. What's missing is a stronger focus on how to use technology, data/analytics, and content to create useful, business-relevant customer communications.”
While B2B companies are investing heavily in marketing automation solutions to communicate with prospects and executive stakeholders, the challenge is integrating individual user data into the systems and then automating appropriate action. Through the combination of predictive analytics and marketing automation, Scout Link for Marketo ensures that usage data can be leveraged for segmentation and nurturing of users in the customer lifecycle to increase adoption and revenue retention.“For our business to grow, we must ensure that users are deriving optimal value from our content, resources, and tools,” said Meg Hargreaves, senior vice president & chief retention officer at CQ Roll Call. “While our marketing automation has been effective for lead nurturing, our goal is to extend the technology for continuous engagement with our users as well as our stakeholders. The missing link has been behavioral segmentation from usage data to put users into the right adoption and nurturing campaigns at that right time to create more value for our customers.” New customer success features available include:
- User Synchronization: automatically synchronizes users tracked in Scout® with Marketo ensuring all end-users can be easily contacted.
- Usage Triggered Communications: initiates communications to users based on feature usage within each product to drive adoption and loyalty.
- Health Scoring Triggered Communications: a scoring engine that initiates communications to stakeholders and users based on changes in health scores to mitigate churn risks and increase revenue retention.
- Subscription Triggered Communications: initiates communications to stakeholders based on subscription terms, improving timeliness and quality of stakeholder notifications such as overages and renewals.
About ServiceSourceServiceSource International, Inc. (NASDAQ: SREV) is the global leader in cloud-based recurring revenue management solutions. The company helps customers drive growth and build long-standing relationships across the customer lifecycle with the industry's most comprehensive data management, analytics, automation and services capabilities. Through Renew OnDemand™, Scout® and proven services, ServiceSource delivers higher subscription, maintenance, and support revenue, improved customer retention, and increased business predictability. Headquartered in the Cloud Corridor of San Francisco, ServiceSource® manages $14.5 billion in recurring revenue for the world's largest and most respected technology and B2B companies. For more information, please go to www.servicesource.com. Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the benefits of ServiceSource offerings, our managed services, our Renew OnDemand cloud platform and application, and/or our Scout application. These forward-looking statements are based on our current assumptions and beliefs, and involve risks and uncertainties that could cause our results to differ materially from those expressed or implied in our forward-looking statements. Those risks and uncertainties include, without limitation, fluctuations in our quarterly results of operations; the risk of material defects or errors in our software offerings or their failure to meet customer expectations; migrating customers to Renew OnDemand; the ability to integrate Renew OnDemand or Scout with other third-party applications used by our customers; errors in estimates as to the renewal rate improvements and/or service revenue we can generate for our customers; our ability to grow the market for service revenue management; our ability to protect our intellectual property rights; the risk of claims that our offerings infringe the intellectual property rights of others; changes in market conditions that impact our ability to sell the Renew OnDemand or Scout solution and/or generate service revenue on our customers' behalf; the possibility that our estimates of service revenue opportunity under management and other metrics may prove inaccurate; demand for our offering that falls short of expectations; our ability to keep customer data and other confidential information secure; our ability to adapt our solution to changes in the market or new competition; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our periodic reports and registration statements filed with the Securities and Exchange Commission, which can be obtained online at the Commission's website at http://www.sec.gov. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements. Connect with ServiceSource: http://twitter.com/servicesource http://www.facebook.com/ServiceSource http://www.linkedin.com/company/servicesource http://www.youtube.com/user/ServiceSourceMKTG Trademarks ServiceSource, Renew OnDemand, Scout and any ServiceSource product or service names or logos above are trademarks of ServiceSource International, Inc. All other trademarks used herein belong to their respective owners.