CFO's Guide: The Subscription Economy Operating Plan (Subscribed13)
Supercharge Your Subscription Lifecycle by AutomatingOperations: ScoutAnalytics (Subscribed13)
Transcript of Supercharge Your Subscription Lifecycle by AutomatingOperations: ScoutAnalytics (Subscribed13)
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The 9 Keys and Customer Engagement
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PRICE ACQUIRE BILL COLLECT
NURTURE ACCOUNT MEASURE ITERATE SCALE
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Pay by Usage
Big Shi: to Recurring Revenue Models
Usage = Value = Revenue and Profitability
Pay by Product
So:ware
Media
Transport
InformaGon
Healthcare
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Recurring Revenue Models Demand a ProacGve Approach
Companies Must Engage Customers Before They Ask
Which users might be advocates?
Are rate plans
working?
Are they ready to buy more?
Why haven’t they used the product?
Do users need more help?
Connected Products Offer Transparent Usage Insights
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The Challenge: Not Enough Arms and Legs
● ProacGve Engagement Creates Loyal Customer – Requires ConGnuous Monitoring, Analysis, and AlerGng to Retain and Grow Revenue
● Customer AdopGon Happens One User at a Time – Requires Personalized User Engagement to Retain and Grow Usage
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User Engagement AutomaGon to Drive Usage
● On-‐boarding – Send login reminders to new users – Target training to new users based on roles and products
● AdopGon – Target training to users based on feature usage – Promote feature discovery and adopGon to users by product and usage – Reference peers in their organizaGon that can assist
● RetenGon Monitoring – Comeback reminder to users with a drop-‐off in usage – Promote unused features that are used by peers
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User Engagement AutomaGon to Drive Usage (cont.)
● Nurturing – Recruit advocates to promote on social media – Surveys users based on usage pa\erns
● Compliance – NoGfy user with violaGons such as sharing – Monitor and report unusual acGvity to customer (e.g., excessive downloads) – Automate deprovisioning of users
● Up-‐selling – NoGfy denied user of whom to contact for access
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Results ● Increased AcGve User PopulaGon 20% ● Stabilized and Grew RetenGon Rate
Case Example
Challenges ● Increasing CompeGGon ● DeterioraGng Economic
Environment
Approach ● Automated Login Nurturing ● MulG-‐stage Content TargeGng
XpertHR UK
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Automated Monitoring, Analysis, and AlerGng
● On-‐boarding – Missed On-‐boarding Milestones
● AdopGon – NoGficaGon of Usage Thresholds Not Being Met – NoGficaGon of End User AutomaGon Failures
● RetenGon Monitoring – NoGficaGon of Buyer – NoGficaGon of Power User Departure – NoGficaGon of User DeacGvaGons
● Up-‐selling – SegmentaGon of Renewals into Renewal Strategies – NoGficaGon of Renewal Price Increase
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Automated Monitoring, Analysis, and AlerGng (cont.)
● Compliance – NoGficaGon of Customers with AcGonable ViolaGons – Report Usual AcGvity to Customer
● Nurturing – IdenGfy Customers Most Likely to Be Advocates
● Data Quality – NoGficaGon of Data Quality Issues
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Results ● 6% Revenue Above ExpectaGons ● Accelerated Conversion and MRR Growth in from 6 to 4 Months ● Enhanced RetenGon and Renewal
Case Example
Challenges ● Convert 1,200 SubscripGon
Customers to New Plagorm
Approach ● ExcepGon-‐based Customer
Engagement ● Value-‐based Pricing
EDA
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New AutomaGon OpportuniGes Across the Enterprise
● On-‐boarding ● AdopGon ● RetenGon
● Renewals ● Trials ● Cross-‐sell ● Compliance
● Provisioning ● Usage Charges ● Customer NoGficaGons
● Advocate Nurturing ● Cross-‐sell ● Trials
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● Provisioning ● Logging In ● Using Features
Milestones
A Play Represents Each Milestone
Example of New Tools for AutomaGon
Defined Business ObjecGve: On-‐Boarding New Customers
● Trigger ● AcGon ● ResoluGon
For Each Play
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How Scout Playbooks Works
● Define Trigger CondiGons
● Assign AutomaGon or Workflow
● Define Desired Outcome
1 Define Play e.g. First Login
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How Scout Playbooks Works
● IniGate AutomaGon and Workflows in Target Systems
● Coordinate Plays Across Playbooks
2 Deploy and Orchestrate
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How Scout Playbooks Work
4 OpGmize for ConGnuous Improvement “Your Next Big Play”
● Performance by Play
● Track In-‐Progress Plays
3 Track Results in Real-‐Time