~or~ ProfitWell Retain
You’re facing a key business decision: what’s the best way to manage failed payments?
As two "dunning" solutions, Churn Buster and ProfitWell Retain are sometimes compared with each other.
The Churn Buster difference comes from a core belief…
Nobody knows your customer better than you.
Churn Buster leverages billions of data points to reduce churn out-of-the-box. But that's just a starting point.
Recovery efforts are matched to your unique brand and business model. This increases subscription renewals, and won't erode valuable customer relationships over time.
Because of this, companies trust Churn Buster to look after their customers:
Ready for a deep dive? Read on for 3 reasons why the best companies in the world choose Churn Buster.
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No "pay-for-performance" fees
Churn Buster charges a flat rate based on revenue growth.
ProfitWell Retain charges a commission based on Recovery Rate.
There's a problem with this approach:
Recovery Rate does not measure the impact of dunning, specifically.
What impacts Recovery Rate?
With only ~10% of payments failing each month, even big companies see big swings in recovery.
Holidays, promotions, random surges in signups...these all impact recovery performance in months to come.
When high-value customers fail payment, recovery based on dollar amount will see large swings up and down.
Annual subscribers renew less often than monthly, and will impact recovery in a big way.
Customers who sign up with a discount, or opted into a subscription without noticing, are more likely to churn later.
Improvements to the quality of your product, support, and onboarding will improve recovery of failed payments.
Example 1: COVID-19 Spike
A meat subscription sees Recovery Rate spike after the pandemic causes a surge in demand.
Example 2: Natural Variance
A smaller beet subscription sees overall churn, and Recovery Rate, moving up and down all year long.
Recovery Rate is one way to monitor how well you're retaining customers with billing issues. And our customers often report 30%+ gains in Recovery Rate after switching to Churn Buster.
But changes in Recovery Rate are not attributed directly to the performance of Churn Buster.
ProfitWell Retain charges fees when recovery goes up, but Recovery Rate measures more than just dunning performance.
Churn Buster is commission-free, and offers standard pricing based on volume of recurring revenue.
Churn Buster clients have full control over the customer experience.
On day one, they launch ready-made recovery campaigns specific to their industry. They then have the custom tools needed to improve—based on data reported by Churn Buster.
eCommerce companies are not forced to use the same campaign as software companies. This is a limitation of ProfitWell Retain, where email templates and settings are shared across accounts.
Churn Buster is built to support the unique aspects of the brands we work with.
Our team is focused on solving this one problem—subscription billing issues.
And our approach is designed to retain more customers by supporting a positive experience with subscriptions.
Focus on customer outcomes—no funny stuff
Customer emails bounce. High-value customers go past-due. Points-of-contact leave the company.
With Churn Buster, your team can retain these customers. Real-time alerts bring visibility at just the right time to make the save. Without tools to make these problems visible, you will churn customers.
Could machine learning and more automation get the job done?
Churn Buster has some options to automate escalation without help from your team—like SMS "nudges," account lockouts, or other scheduled actions.
However, what ProfitWell Retain promotes as "machine learning" can obscure customer outcomes, and actually be bad for business.
First of all, if you don't know what's happening behind the scenes, how can you trust the results?
Here's an example of how ProfitWell Retain layers their own "smart retries" on top of Stripe smart retries:
Positioning a retry a few hours before another one can look like a win. But it's not having any impact on your business.
Churn Buster layers scheduled retries to compliment payment processor settings. This allows companies to front-load "smart" retries, leveraging much larger datasets, while ensuring retries throughout the full length of a campaign.
Scheduled retries are a safe, reliable way to have a real impact on long-term retention.
At Churn Buster, the reputation of your business is safeguarded with results you can see and trust.
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