Churn Buster default campaigns are most often the best place to start with failed payment recovery.
As data is collected, and your company reaches appropriate scale, there is infinite potential for customization.
Post-launch, Churn Buster begins monitoring failed payments as they happen. Whenever a recurring payment fails, a campaign to recover the revenue—via customer notification, payment retries, and support team alerts—is automatically created.
Any subscription that has not been canceled is eligible for recovery—to get a better card on file, and get recurring payments back on track. To create a recovery campaign for an unpaid subscription, simply retry the payment. When it fails, Churn Buster jumps into action.
Note: pre-dunning emails (sent before a card is expected to expire) are not recommended. Card updater technology has made this process largely obsolete, routinely doing more harm than good.
After a failed payment, Churn Buster allows multiple retries to the card-on-file (coordinating with your payment processor, or initiating via webhook/API) before outreach begins. Many soft declines can be silently resolved this way (21% on average!) before asking your customers for a new card-on-file. This means 21% fewer emails sent, lower cancelation risk, less load on your support team, and a better experience for your customers.
Customer outreach includes a series of pre-written, editable emails, increasing in urgency across several weeks of followup. Each email includes a link to no-login-required update form, unique to that specific customer. Emails are sent from your company, without direct mention of Churn Buster.
When a card is updated, any unpaid invoice in the last 30 days is re-attempted. This look-back window can be extended to collect multiple unpaid invoices when a cards are updated.
Churn Buster ensures every opportunity to keep a subscription active, before considering an account written-off. At the end of a campaign, Churn Buster can either:
A) Cancel the subscription—sometimes a trigger for account lockouts, service cancelations, or churn tracking. A returning customer would create a new subscription.
B) Leave the subscription Unpaid—via webhook these customers can be cycled back to you, for drip campaigns, debt collection, etc. Returning customers can often reactivate a subscription.
Out-of-the-box, Churn Buster can often retain over 20% more than less efficient followup systems (like those offered internally via Stripe) while reducing support loads on your team.
View Churn Buster pricing to see if this would represent positive ROI to your company.
The problem of involuntary churn is a tricky one to solve. With the right process in place, Churn Buster provides a solid foundation to build on for years to come, minimizing churn.