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4 Ways to Reduce Churn & Increase Subscription Payments

Category: Customer Experience

Contributed by Cashi, a Platinum SUBTA Resource Partner.

Increase revenue. Retain members. See growth.

It’s critical for merchants to lean into subscription retention strategies. Acquiring a new subscriber can cost four times more than retaining an existing subscriber.

Don’t lose your customers due to a payment issue. Increase your revenue by ensuring member card data is up to date, and protect your revenue stream by implementing solutions to reduce involuntary churn while increasing subscriber retention.

Burn The Churn

1. Update member accounts on the fly

Intelligent account updater alleviates you from annoying your customer. Intelligent software that can update card information immediately stops you from any downtime or gaps in payment processing.

2. Recover payments in a flash

Turn a failed payment into an approved payment. Solutions such as flexible and customized retry schedules increase the likelihood of successful payments, which improve your bottom line.

3. Stay in touch with your crew

Don’t leave your customers out in the cold. Reach thousands of subscribers simultaneously with the click of a button! Regular engagement with your customers makes for smooth sailing with your subscription services.

4. A life preserver for your payments

You have enough on your plate without spending time fighting against chargebacks. Take control to prevent chargebacks and fraud to keep the cash flowing.

Want to learn how to automate this process into your subscription business?

 

 

Written by Cashi, a Platinum SUBTA Resource Partner.
Learn more at https://www.cashicash.com/

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