Creating customers for life with Customer Lifecycle Management

ServiceSource® has introduced its Customer Lifecycle Management (CLM) solution designed to help Cloud- and subscription-based businesses maximise customer lifetime value and sustainably grow their businesses. By combining its SaaS capabilities with new managed services, ServiceSource accelerates a company’s implementation or transformation to subscription-based business models. Today’s announcement also bolsters customer acquisition-centric CRM systems and processes with new customer engagement capabilities for managing product adoption, customer retention and growth.

Today, every B2B company is significantly investing in Cloud- and subscription-based offerings as an engine for future growth. In fact, for subscription businesses, the ability to retain customers and grow their footprint is the best way to drive growth and profitability. For companies selling subscription-based products, more than 90 percent of revenues and up to 50 percent of annual growth targets are realised post-sale from existing customers.

By providing managed services powered by its market leading SaaS offerings for recurring revenue management, ServiceSource is uniquely positioned in the marketplace to help companies understand and engage customers during critical phases such as onboarding, adoption, renewals, retention, cross-sell/upsell and advocacy. Located across 6 worldwide sales centers, the managed services teams act as an extension to a company’s sales or customer success organisations to proactively engage their customers with the right approach at the right time.

ServiceSource Creates Customers for Life
These teams are armed with Customer Lifecycle Management methodologies specifically designed for recurring revenue and can help increase retention by an average of 9 percentage points and renewals by up to 15 percentage points.

The solution also fills a considerable gap not addressed by today’s CRM solutions and traditional selling services. Specifically, CRM systems and selling services have been built to drive the initial sale of a product or service by tracking marketing and sales activities and interaction data such as sales contacts, relationship history, and sales pipeline. For subscription-based businesses focused on recurring revenue sales, they require additional information such as usage and adoption data and health scores to manage key sales, marketing and customer success activities throughout the customer lifecycle.

“Websense offers a broad portfolio of products that address a range of security challenges in the marketplace. As such, understanding our customers’ complex requirements and ensuring they realise the value of their Websense investment is the driving force behind our customer success, product strategy, sales and marketing activities,” said John Giacomini, Senior Vice President, Americas Sales for Websense. “By engaging our customers with a tailored approach, ServiceSource helps build long-term equity in our customer base. Through this engagement, Websense adapts to our customer’s changing needs, drives a better customer experience, and identifies opportunities for increased revenue through upsell and cross-sell.”

Unlike typical customer success offerings, ServiceSource’s Customer Lifecycle Management solution incorporates both insight and execution capabilities from its SaaS and managed services portfolio to maximise customer value and accelerate sustainable revenue growth and profits:
· Usage and Predictive Analytics: The CLM solution analyses subscription, usage, and CRM data from a company’s Cloud- or subscription-based service to understand how customers are deriving value from their products, spot growth opportunities and uncover warnings signs of churn. Using industry-proven playbooks, ServiceSource then pushes opportunities and tasks to trained personnel from its global managed services team to engage a company’s customer base in a more meaningful way, increasing revenue through upsell, cross-sell and higher renewal rates.
· Renewal Automation, Workflow and Playbooks: During the critical renewal phase, companies are working against a compressed contract-expiration timeline. ServiceSource boosts sales effectiveness by managing renewal sales pipelines and providing timely renewal-ready opportunities with personalised sales plays.
ServiceSource Creates Customers for Life

· Managed Services: Leveraging the company’s SaaS capabilities, ServiceSource’s dedicated team of managed services professionals provides an array of managed services to engage customers with the right play at the right time. These services extend customer success and sales coverage for acquisition, onboarding, adoption, renewals, retention and expansion.
· Integration with Leading CRM systems: ServiceSource integrates with leading cloud-based CRM systems to manage all sales activities through a singular process and interface.
· Recurring Revenue Ecosystem: Through an ecosystem of technology and solution partners, ServiceSource accelerates customer success and recurring revenue growth for subscription companies.

“Today, most sales, marketing and customer success organisations are constrained by CRM’s acquisition-centric view of the customer,” said Martin Moran, executive vice president of global selling services for ServiceSource. “These companies are looking for help in building new capabilities or looking for coverage to maintain their growth. By offering new managed services for Customer Lifecycle Management, companies now have a solution to accelerate their growth initiatives and create customers for life.”