Retries are payment re-attempts to the existing card-on-file. These recoveries don't require the customer to take action, so well-timed retries ensure customers are interrupted only when needed.
Churn Buster prioritizes retry recoveries.
The Retry Phase
The default campaign schedule waits a few days before sending the first email to allow time to retry the payment before contacting your customer. This period between the time the payment fails and the first email sends is called the Retry Phase.
This waiting period allows "soft declines" — and other temporary billing issues, like a maxed out credit card — to resolve before taking further action.
Retrying a day or two after the initial failure often successfully clears the payment, ending the campaign and resuming the customer's subscription as if the billing issue had never even occurred. If, however, these early re-attempts don't clear the payment, then the customer is contacted to resolve the issue.
On average, >15% of payment failures can be resolved through retries that happen before the first email is sent. And a recent study among the companies we work with revealed that 62% of all recoveries are from retries.
If at first you don't succeed, RETRY, RETRY again.
Ongoing retries capture payments beyond the Retry Phase, even a few weeks or months after the initial charge failure.
Proper settings in your payment processor or subscription management tool ensure charges are re-attempted multiple times.
With Enhanced Retries, retries are optimized for the full length of the campaign to resolve payment issues more quickly and contact customers only when necessary.
Recovering payments quietly, without interruption, is the best outcome for you and your customers.
Retry recoveries are your passive churn rate's best friend.