How an automated notification helped this user save $800 in recurring revenue – Episode #34!
Welcome to Membership Site Lab - Episode #34!
Be sure to listen to this episode using the player below.
Being at home now more than ever means... more time to work on my passion! I didn't have any plans to record a podcast episode this morning but I received an email from a customer this morning where he shared an email to show how something he did recently created an $800 sale that you can do very easily as well.
Be sure to take a listen to find out what this customer of our membership plugin - DigitalAccessPass.com (DAP) did to generate a $800 sale that he may have lost otherwise, and why it was important for me to share this message with you today!
Involuntary churn does not just impact your revenue, it negatively impacts your relationship with the customer as well because they lose access to the product or service they are actively using without even realizing that their payment failed or their subscription was suspended or terminated.
The 3 biggest causes of failed payments are:
1. Payment failure due to insuf cient funds
2. Payment failure due to credit card limits
3. Payment failure due to credit card changes (e.g., expiration, replacement cards, etc.
How to Proactively manage involuntary churn !
In fact, 20-40% of churn is involuntary churn but the good news is... Involuntary churn is actually preventable!
You can easily minimize involuntary churn using the right tools and strategy. Each payment processor is different and they deal with failed payments differently.
Take a listen to this epsiode to find out how one of our users saved $800 by implementing a simple automated notification!
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Membership Plugin: DigitalAccessPass.com (DAP)
Shopping Cart Platform: SmartPayCart.com (SPC)
Membership Site Training: MembershipSiteLab.com
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