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SOURCE Lattice Engines
New predictive technology uncovers hidden revenue opportunities with existing customers
DocuSign discusses how it is boosting conversion rates by 35 percent with Lattice at SiriusDecisions Summit 2014
SAN MATEO, Calif., May 22, 2014 /PRNewswire/ -- Today Lattice Engines announced new technology that makes it possible to use the power of predictive analytics across the entire customer lifecycle – from lead scoring and segmentation to sales enablement and now cross selling and retention.
Lattice for Cross-sell and Retention now enables marketers to predict which customers and products are the best upsell and cross-sell opportunities to increase share of wallet and drive customer retention or renewal. Combined with Lattice's marketing and sales applications, customers are now able to use predictive applications to optimize revenue opportunities at every stage of the customer lifecycle.
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Using the Power of Prediction to Uncover Hidden Revenue Opportunities
Marketing automation technology has revolutionized how marketers reach and attract new prospects and drive them through the revenue funnel. However, few marketing teams have applied the same type of rigor for actually retaining and expanding existing customer relationships.
The probability of selling to an existing customer is 60 to 70 percent, while the probability of selling to a new customer is only five to 20 percent (Marketing Metrics). Yet, only 12 percent of current marketing spend is spent on customer retention (McKinsey).
Lattice for Cross-sell and Retention arms marketing and sales with the right combination of targets and products to unlock the full revenue potential of each customer. By combining customer contact and account level attributes, marketers can get a complete view of the customer and apply predictive analytics to identify not only the best opportunities for upsell or cross-sell, but even prescribe which products or services represent the best fit.
Highlights of Lattice for Cross-sell and Retention:
Learn more at SiriusDecisions Summit 2014
About Lattice Engines
Lattice is pioneering the predictive applications market for marketing and sales. Lattice helps companies grow revenue across the entire customer lifecycle with data-driven marketing and sales applications that make complex data science easy to use. By combining thousands of relevant buying signals with advanced predictive analytics in a suite of secure cloud applications, Lattice helps companies of all sizes to stop guessing and start relying on predictive insights to increase conversion rates and deal sizes by more than three times. Lattice is backed by NEA and Sequoia Capital with headquarters in San Mateo, CA. Learn more at www.lattice-engines.com and follow @Lattice_Engines.
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