3 Ways Recurring Revenue Businesses Can Recover Failed Payments

We listed 3 ways recurring revenue businesses can recover failed payments. Gravy focuses on e-learning, box company and SAAS customer retention.

Are you a business with recurring subscriptions or membership payments? Perhaps an online course, box company, SaaS company, health & fitness boutique, or wellness facility? There are three important solutions for recovering recurring payments.

1. A Full-Time Focus

If you don’t have someone who is focused on the metric of payment recovery, then you are missing out on revenue. You cannot successfully delegate this to someone who has 17 other things to do on your team and expect to get the results that you want.

For example, if you need to focus on a podcast, then do that and let us handle revenue retention. Marketers and e-commerce specialists should not be focusing on tasks relating to customer retention.

2. A Proven Communication Process

The secret sauce to recovering failed payments is PERSONALIZED FOLLOW UP. One to one communication. Over 70% of saved payments are a result of a nicer person actually sending a customized email to somebody.

As much as you love automation, it just can’t CARE as a real person can. User experience optimization is vital to profitability.

3. Visibility

If you aren’t measuring payment recovery as much as you measure your marketing or sales efforts, you’re losing an enormous amount of money. We have the system figured out, and we’ve created a framework for payment recovery that’s saving on average, 51% of failed revenue within 30 days.

Our specialists will scan your customer data and figure out exactly what needs to be done to retain customers. It might be an email campaign that we recommend or it could be a more personalized follow-up process. Webinars might be necessary to get your messaging through to your customers that are considering not paying next month due to insufficient funds (maybe from coronavirus layoff).

About Gravy:

Gravy is the leading customer retention and failed payment recovery service for businesses with recurring payments. We believe in the human touch as a way to make better customer experiences happen.

We're on a mission to create an affordable, more efficient way for businesses to engage and manage failed payments AND bring the human element back to the cold world of automated, digital communication.

We'll bring your company a positive return on investment and ensure that your customer lifecycle is extended so that you can focus on new customers.

If you're an online course, box company, SaaS company, health & fitness boutique, or wellness facility with memberships or subscriptions, Gravy can help you recover payments and retain customers. We have integrations made for Stripe and other online payment processors (payment gateways).

Next Steps:

If you’re looking to reduce churn, increase customer lifetime value, and get failed payments recovered quickly, Gravy can help.

We are the best alternative to dunning software that prevents involuntary churn.  We are experts in revenue recovery and will bring you a positive return on investment.

Start Recovering
Failed Payments Today.
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