Churn Buster helps your business recover more failed payments.
At the heart of this recovery process is a campaign, which is the process of attempting to recover a customer’s failed recurring payment.
This article will help you understand how campaigns work so that you can set up a campaign process in Churn Buster to maximize your failed payments recovery.
What is the end result of a campaign?
It is helpful to begin with the end in mind. A campaign has two possible outcomes: a retained customer subscription OR a cancelled subscription.
Of course, our goal is to retain as many customers as we can. 🙌
Let’s go through the actions that lead to retained customers.
Interested in learning the impact of a single retained subscription to your business? Check out this article about the compounding gains of failed payments recovery.
Churn Buster tracks two methods of payment recovery:
- payment retries
- card updates
Let’s dig a little deeper into each of these recovery methods.
In your campaign schedule, you can set up retries which will activate your payment processor to retry the payment prior to sending an email.
On average, 21% of payments can be recovered through retries that happen before the first email is even sent. This is incredibly beneficial because it means you can recover tons of payments without ever bothering your customer—better customer experience, fewer support demands, and immediate results.
Retries are also configured in your payment processor or subscription management tool according to our recommended settings.
- Click here to learn how to set up retries before each campaign email
- Click here to learn how to add additional retries to your campaign schedule
In conjunction with retries, Churn Buster sends out a series of emails to your customer after a payment fails, guiding the customer to update their credit card details.
Here is what an email might look like:
Each campaign email includes a link to your card update page:
As you can see, these emails are simple and direct in what they are asking customers to do. They are also designed to be trustworthy—so your customers don’t have to worry if they are really sent from your company or not.
Additional Campaign Actions
Support Team Alerts
While retries and emails are the core actions of a campaign, you can set up additional campaign actions, such as support team alerts. These alerts may come in the form of notifications (such as an email, text, or Slack message) that keep you in the loop on the status of each campaign.
What to do next
Interested in optimizing your campaigns to recover as many payments as possible?