How Churn Buster Saved Barn2 Thousands
Churn Buster has reduced our churn rate by more than half and saved us $5,000/year!
We sell WordPress and WooCommerce plugins via our website barn2.co.uk, with recurring annual subscriptions. When analyzing our renewal rates, I always assumed that there were unavoidable reasons for the customers who chose not to renew - perhaps they were no longer using our plugin, or they resented having to pay annually.
However, when I attended a webinar led by Churn Buster and Easy Digital Downloads, I discovered that we were probably losing customers who would have been happy to renew due to failed credit card payments.
Matt [CEO of Churn Buster] provided lots of statistics about how many subscription payments are lost for this reason - and I had no idea it was even an issue!
I logged into our Stripe account and discovered that our churn rate was 4%. I didn't know whether it would be possible to improve this, but decided to sign up for Churn Buster.
It only took a few minutes to set up and I was very impressed with the quality of Churn Buster’s system and documentation. They have obviously thought through every aspect of their service, which was a refreshing change!
Next, I let Churn Buster run in the background, and set myself a reminder to check our churn rate in a few weeks.
Amazingly, in the 4 weeks after installing Churn Buster, our churn rate reduced from 4% to 2.9% - more than a 27% improvement! In the next 4 weeks, it reduced even further to 1.7% - which means that our churn rate had reduced by more than half.
Based on our current recurring revenue, this will save us more than $5,000 per year - thank you Churn Buster!
I would highly recommend Churn Buster to any subscription-based business. It takes minutes to set up and will increase your subscription payments forever - it's a win win situation!