3 Ways Recurring Revenue Businesses Can Recover Failed Payments
Are you a business with recurring subscription 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.
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 results of a nicer person actually sending a customized email to somebody. As much as you love automation, it just can’t CARE like a real person can.
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.
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.
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.
If you’re looking to reduce churn, increase customer lifetime value and get failed payments recovered quickly, Gravy can help.