Focus on Retention to Grow Your Business: a Primer From Price Intelligently

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Best Practices Churn Recovered Revenue

Here’s a really useful blog post from our friends at Price Intelligently, titled “How to Turn a SaaS Company Around in 90 Days.” While it’s written with a SaaS audience in mind, the concepts are solidly applicable to nearly any subscription business.

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How Much Revenue Could You Recover by Using Recurly? Find out!

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Churn Recovered Revenue Account Updater

Subscription-based businesses strive to do many things: delight their customers, further their mission, grow and expand. Subscription businesses work hard for their revenue, much of which is paid via credit cards, which present a risk—the risk of failed transactions which are the enemy of growth due to the churn they cause.

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Benchmarking & Minimizing Credit Card Transaction Decline Rates

Many merchants are concerned about their transaction decline rates and want to ensure that the rates are within what is normal for their industry or segment. Their concerns can be amplified by seeing large blocks of declined transactions, multiple attempts to collect on a single invoice, and numerous customer updates to billing information. It's important to note that with subscription billing, declines are normal. For most customers, a decline rate of 5-14% of monthly transactions for business-to-business (B2B) and 6-18% for business-to-consumer (B2C) is about right—but that number will vary greatly depending on the composition of a user base.

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Reduce Churn and Increase Revenue: Enable Recurly’s Account Updater Service Now!

“Card declined”—two words that subscription businesses hate to hear. Credit card declines result in the loss of revenue and increased churn, impacting your bottom line. Some number of declines are unavoidable, and as discussed in a recent blog post, some payment events—such as the widespread issuing of new EMV cards in the United States this year—can also result in increases in both failed payments and card-not-present fraud.

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EMV is coming. Are you ready?

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Churn Fraud EMV

EMV is the new credit card technology finally coming to the US after many years of use in Europe. With an embedded microchip and associated security features, these new EMV cards are more resistant to fraud, in particular at Point of Sale (POS). Unfortunately, this means that nefarious types may shift their efforts to Card Not Present (CNP) fraud—as has happened in the past wherever EMV cards have been launched.

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Identify 'Sneaky' Revenue Churn In Your Subscription Business

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Churn analytics

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.

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If You Only Knew - How Much Your Relative Churn Rate Matters

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Churn

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 theirs. 

Annuity revenue streams are made more or less attractive by the speed with which they ‘decay’. In the world of SaaS and other subscription models, this ‘decay’ is a powerful reflection of how well you are delivering a service that satisfies your customers over a period of time. Deliver a great product or service and your customers will stick around. If you don’t deliver, your customers leave, and your business becomes less efficient.

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How to Improve Subscription Renewal Rates

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Churn

Hyper-targeted ‘lifecycle marketing’ promotions are well worth the effortMbaC2JdIkbvV5SlPoMrpZDowR10DqytXvngxIegdIggMonitoring 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.

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Churn's True Cost

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Churn

In our previous post, we described churn as an all-too-neutral term for what it really describes - losing customers, often quite quickly. Now, we take a look at what churn can do to your business.  

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The Real Meaning of "Churn"

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Churn

“Customer retention rates ultimately determine whether your business is growing profitably or not.” - Dan Burkhart, Recurly CEO, November 2011

Here at Recurly, we do all we can to combat churn among your customers. After all, the typical Recurly customer saves more by recovering revenue - which contributes strongly to reducing churn - than the cost of their Recurly subscription.

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