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BELMONT, Calif. – October 9, 2012 – Vindicia, the leading provider of subscription billing solutions for the digital economy, today announced that LogMeIn has implemented Vindicia® Select™ to enhance its customer retention rates, improve overall customer lifetime value and increase revenue. Launched in July, Vindicia Select allows digital businesses to keep an existing subscription or recurring billing platform, while taking advantage of Vindicia’s unique acquisition and retention technologies including the patent-pending ART™ technology built into the Vindicia product suite.
LogMeIn’s essential cloud remote access, collaboration, IT management and customer care services are used by millions of people to quickly, simply and securely connect to devices, data and other people.
In today’s online global marketplace, the ability to successfully acquire and retain subscribers is paramount to long-term growth. Surprisingly, many of today’s most successful digital businesses are losing the revenues associated with 10-15 percent of their customer base because of preventable churn.
Vindicia Select, and the underlying ART technology, successfully processes 30-40 percent of these failed transactions and returns them to a company's existing subscription billing system for future recurring billing.
“We needed a partner who understood the importance of customer retention in a subscription business, and we were impressed with the results of our initial Vindicia Trial. Now in full deployment, we believe that we will continue to streamline the inherent complexities in a high-volume, subscription renewals operation,” said Seth Shaw, SVP of Sales at LogMeIn.
“Early results across our client base are proof of the value of the patent-pending IP we’ve put into Vindicia Select,” said Vindicia Chairman and CEO Gene Hoffman. “LogMeIn is a great example of a hugely successful subscription-based SaaS business that can benefit greatly from adding Vindicia Select to an already existing billing platform to optimize their customer retention numbers even further.”
Vindicia offers a complimentary trial to qualified companies whereby Vindicia will process up to three days of recently declined transactions and deposit the rescued revenues into the business’s account automatically. This free, one-time offer captures as much as 40 percent of declined transactions for most online businesses.
Vindicia is the leading provider of marketing and selling automation for the Digital Economy. We enable digital leaders to optimize their customer acquisition and retention capabilities across a variety of online markets via our SaaS solution, Vindicia CashBox®. We have processed over $6 billion globally and generate over $75 million in annual incremental revenue for our clients. Our clients include TransUnion Interactive, Intuit, Activision Blizzard, IAC, Bloomberg, and Next Issue Media. To learn more, please visit www.vindicia.com