In subscription billing, you get paid over time, not up front - so having a stable payment method is crucial. However, credit cards and debit cards, the leading payment methods for subscription billing, often suffer payment declines. Card declines cost you revenue and are a leading cause of customer churn....
Recurly software uses card updates and automatic retries to recover revenue without intervention by merchants or customers. Recurly recovers an average of 7% of your customer revenue with automatic card updates and automatic retries. If these efforts don’t pay off, the software starts to send dunning emails to your customer, on a schedule
For many merchants, the #1 feature of Recurly software is the ability to recover revenue and stop churn that would otherwise be lost to credit card declines. As I described in my previous post, Recurly software updates the card information that’s sent into the processor, in ways that prevent many...
Image courtesy Infosecurity magazine Recurly is working hard to help educate subscription billing companies about the Payment Card Industry Data Security Standard - PCI DSS. We issued a white paper about PCI DSS V3.0, a recent, comprehensive update to the standard. Now, right...
Understanding the true cost of subscriber churn is one of the most critical KPIs any SaaS business can measure. Unfortunately, it is not always easy to identify the ‘true’ cost of churn because customers churn in different ways. Simple ‘Binary’ Churn Example In the simplest example, Company A charges $15...
As I described last week, Recurly generates outstanding amounts of recovered revenue for our merchant customers. Account Updater is a key part of this capability. Recurly added Account Updater last May. Over time, customer billing information you have on file might become outdated - cards are lost or stolen, or...
Churn is one of the most sensitive variables impacting the value of a subscription business. Your business is in a "drag race" with competitors to come out on top. How your churn rate differs from your competitors' can tell you a lot about the relative health of your business and...
According to PricewaterhouseCooper, security incidents have grown an average of 66% per year for the last five years running. While breaches at retailers and entertainment companies make headlines, all kinds of organizations are affected. So a new report from Verizon Enterprise should soon be found in the briefcases and backpacks of...
Hyper-targeted ‘lifecycle marketing’ promotions are well worth the effort Monitoring your subscriber churn rate is a basic requirement for any subscription business. Managing the “flip side” of churn – your subscription renewal rate – is the next tactical function for any subscription business operator. Subscription renewal...
After all of our postings on limiting customer churn, every subscription business must face the fact that your customers will choose to unsubscribe at some point. It happens. However, there are some simple things that can be done to influence the decision-making process as your customers choose to leave you....
