Meet your 2014 Growth Engine: Subscription Revenues
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This presentation highlights the critical elements for a successful recurring revenue business, whether it is maintenance and service contracts, warranties or subscription revenues. It also highlights how usage data and predictive analytics can help significantly improve customer retention and up-sell/ cross-sell. An ideal solution for customer success management offered by ServiceSource
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Meet your 2014 Growth Engine: Subscription Revenues
- 1. Meet your 2014 Growth Engine: Subscription Revenue February 13, 2014
- 2. Today’s Presenters: Matt Shanahan Ashley Stirrup VP Product Strategy SVP Product & Solution Marketing ServiceSource Confidential Information
- 3. ServiceSource Acquires Scout Analytics Leading provider of predictive analytics for subscription businesses Know More 2 ServiceSource Confidential Information Sell More Keep More
- 4. Market leader Focused exclusively on recurring revenue for 13 years Software Hardware LOCATIONS WORLDWIDE: Networking Industrials, Healthcare & Life Science Subscription Revenue $14.5B Recurring Revenue under management 47 seconds A renewal is closed 200+ Engagements worldwide 3 ServiceSource Confidential Information
- 5. Big Shift in Customer Purchasing Own Use In a Subscription Economy Success Is Driven by Customer Usage 4 ServiceSource Confidential Information
- 6. Pay-to-Use Models Growing Rapidly in Subscription Economy 5 ServiceSource Confidential Information
- 7. Pay-to-Use Is Driving Growth in Subscription Economy Served Market 6 ServiceSource Confidential Information Unserved Market • • • • Occasional Users Seasonal Users Financially-constrained Users New Use Cases
- 8. The Subscription Economy Attraction Customer Lifetime Value (CLV) Renewals Initial Sale 7 ServiceSource Confidential Information TIME
- 9. The Subscription Economy Challenge As Market Matures, Recurring Revenue Growth Flattens Revenue $ Customer Acquisition Rate TIME 8 ServiceSource Confidential Information
- 10. Only Way to Maintain Growth in the Subscription Economy Maximize Customer Lifetime Value (CLV) Usage Charges CLV ($) Cross-Sells Up-Sells Renewals Initial Sale 9 ServiceSource Confidential Information TIME 90%+ of Revenue Is Guaranteed After Initial Sale
- 11. Secret of High Performing Subscription Businesses Revenue $ Customer Acquisition Rate TIME 10 ServiceSource Confidential Information Understanding and Monetizing Usage
- 12. Usage Informs What Levers to Pull When What are the right plans? Usage Charges CLV What is the next best offer based on value derived? Cross-Sells Is the service underpriced compared to usage? Is usage meeting expectations? How best to drive conversion? Before Sale 11 What is time to value? Initial Sale ServiceSource Confidential Information Did the customer get good value from the product or service? Up-Sells Renewals TIME
- 13. How Do You Get There Scout® Usage Data Usage Capital™ Multiple Systems/Data Silos Integrated Datasets Uncorrelated Actionable Insights INACCESSIBLE PROACTIVE AUTOMATION 10-15% Revenue Boost Churn ê 50% 2x Profitability 12 ServiceSource Confidential Information
- 14. The Scout® PLATFORM Scout® PLAYBOOKS AUTOMATE Engagement Plays Scout® HUB Scout® LINK 13 PREDICT Opportunities to Maximize CLV INTEGRATE Usage and Subscription Data ServiceSource Confidential Information
- 15. Scout® Drives Actionable Insights Across the Enterprise Renewals ● Trials Cross-Sell ● Compliance ● ● ● 14 Customer Notifications ServiceSource Confidential Information E NC A ® SC MA OU NA Provisioning ● Usage Charges ● Scout® scout PLATFORM PLATFORM SCO UT FIN Trials CT DU RO ENT T P GEM ● MER USTO TC S OU CCES SC SU Advocate Nurturing ● Cross-Sell ● SCOUT MARK ETI NG SCOUT SALES On-Boarding ● Adoption ● ● Retention Product Planning ● Rate Plan Monitoring ●
- 16. Scout Makes Your Existing Systems Smarter scout PLATFORM Scout®PLATFORM E NC A SCO UT FIN ServiceSource Confidential Information SC MA OU NA 15 CT DU RO ENT T P GEM ® MER USTO TC S OU CCES SC SU SCOUT MARK ETI NG SCOUT SALES
- 17. The Scout Value Propositions ● Increase Renewal Yield ● Increase Up-sell and Cross-sell ● Increase Productivity CE AN SCO UT FIN ServiceSource Confidential Information CT DU RO ENT T P GEM 16 ® ● Increase Retention ● Increase Account to Manager Ratio SC M O AN U A ● Improve Timeliness ● Lower Cost of Billing scout PLATFORM Scout® PLATFORM MER USTO TC S OU CCES SC SU ● Increase Leads ● Lower Cost Per Lead SCOUT MARK ETI NG SCOUT SALES ● Increase Revenue Yield
- 18. Scout’s Proven Value Power of Scout® é 17% Renewal Yield é 75% Trial Conversions é 24% Rate Plan Performance ê 17 ServiceSource Confidential Information 53% Reduction in Churn
- 20. Maximizing Recurring Revenue Cloud Applications Best Practice Business Process Scalable Expertise Renewals Data and Technology Pay for Performance Selling on behalf of customers, based on performance Support for the renewals process with applications, tools, and a data framework we do it for you 19 ServiceSource Confidential Information • Data Management and Opportunity Generation • Sales Strategy and Execution • Generate Insight and Optimize Purpose-built cloud applications designed to increase recurring revenue and minimize churn The only hybrid solution that includes Renewal Sales, Customer Success, & Enablement Services we enable you
- 21. Enterprise cloud applications for Recurring Revenue Management Maximize subscription revenue across the customer lifecycle Purpose built system for renewals management Sales Installed Base Mgmt Marketing Renewal Sales Customer Success Channel Management Product Management Sales Operations Finance Analytics 20 ServiceSource Confidential Information
- 22. A comprehensive recurring revenue solution Apps Capabilities Data 21 Renewal Sales | Enablement | Analytics Predictive Analytics | Customer Success ERP | CRM | Custom Usage | Subscription Billing ServiceSource Confidential Information
- 23. Customer Success Management Reduce customer churn with proactive outreach Drive customer satisfaction with a high-touch engagement model Increase upsell and cross-sell through value selling Improve product offerings with customer feedback 22 ServiceSource Confidential Information
- 24. Customer Success Management Powered by Scout New & Enhanced Capabilities Results • More targeted and productive conversations • Increased customer lifetime value • End user usage analytics • Broader end user adoption • Feature discovery • Customer advocacy • Overage notifications 23 • Increase use of sticky features • 100% customer outreach ServiceSource Confidential Information
- 25. Recurring Revenue Management Retain Renew • Onboarding • Sales plays • Upsell • Training • Channel Mgmt • Cross-sell • Advocate nurturing • Playbooks • Compliance tracking • Save plays 24 ServiceSource Confidential Information Grow
- 26. Solution offerings for traditional, SaaS & mixed businesses Retain Renew Grow Maintenance Warranties Support Subscriptions 25 ServiceSource Confidential Information
- 27. Complete solution for Recurring Revenue Management Managed Services Professional Services Renewal Sales Customer Success Enablement Implementation Training Data Services Applications Renewal management and analytics 26 ServiceSource Confidential Information Predictive analytics for subscription businesses
- 29. Thank you! 28 ServiceSource Confidential Information