Seattle, Wash., May 22, 2024 – Scout Analytics™, the leading provider of recurring revenue management solutions, today announced that EDA, a provider of data-driven insight for the manufacturing industry, has increased annual revenue by 6% with Scout Analytics. By leveraging customer usage data and predictive analytics technology, Scout has enabled EDA to align pricing with actual customer value, increase customer satisfaction and retention, and prioritize its product roadmap. With these benefits, EDA has achieved a 10x return on investment from Scout Analytics.
EDA, a division of Randall-Reilly, provides data-driven market insight to those who manufacture, sell, service or finance equipment in the agriculture, capital markets, construction, lift truck, logging, office equipment, printing, machine tool, trucking and woodworking industries. Before Scout Analytics, the company struggled to accurately identify the value its customer-base was receiving from the EDA platform. Prior to their newest product release, EDA selected Scout Analytics to help match their pricing structure to customer usage.
“Prior to Scout Analytics, our team had little-to-no insight into customer usage or perceived value. We could only view end-users’ last two logins and limited email and phone correspondence. We were essentially engaging with customers while blindfolded,” said Tim Maguire, director of customer experience at EDA. “As we prepared to launch our next product, we needed to gain deep insight into customer usage to get pricing right at product launch and accelerate conversion. Access to this data has increased customer retention and helped prioritize the execution of our product roadmap.”
With Scout Analytics, EDA can easily navigate through customer subscriptions, users, and usage, and then develop the right strategy to maximize customer lifetime value. For example, EDA can view total logins over an entire customer lifecycle, gain insight into total time spent within the product, and understand which features or capabilities are over or under-utilized. This insight equipped EDA with the necessary data to appropriately price its new product for existing and future customers, and accelerate conversion to the new platform. Scout Analytics also helped EDA monitor usage data to identify retention risks and intervene with additional training or customer support.
“For subscription businesses, success is dependent on maintaining customer satisfaction. Usage data is the foundation for evaluating and communicating true customer value,” said Mark Upson, CEO of Scout Analytics. “With Scout Analytics, EDA has harnessed usage data to transform all facets of the business. Implementing a data-driven approach across the organization has significantly impacted their bottom line.”
EDA has continued to leverage Scout Analytics to increase customer satisfaction and retention, and to expand customer utilization. EDA plans to expand its use-case and is beginning to utilize Scout Analytics to increase trial conversions.
Scout Analytics and EDA will hold a joint webinar titled, “Leveraging customer usage data to optimize pricing, increase revenue and maximize customer lifetime value,” on June 26 at 8:30am PT. To register for the event, please visit https://www3.gotomeeting.com/register/202235382.
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 efficiency. 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.
About EDA
Since 1988, EDA has provided data-driven market insight to those who manufacture, sell, service or finance equipment in the agriculture, capital markets, construction, lift truck, logging, office equipment, printing, machine tool, trucking and woodworking industries. EDA’s insights and robust platform of transactional-based data help businesses guide strategic planning and day-to-day operations; identify regional hot spots and competitor market share; anticipate growth trends and emerging markets; exploit new product opportunities; and target qualified prospects using detailed contact information and equipment purchasing histories. EDA offers insight its customers can act on, resulting in a competitive advantage and a positive return on investment. For more information visit www.edadata.com. EDA is a division of Randall Reilly.
