Churn Buster Alternative: ProfitWell Retain

Which dunning tool is right for your business?

If you’re reading this article, you’re researching an important business decision: what’s the best way to manage failed payments?

Mistakes on repeat can be a slow, compounding drain on your recurring revenue.

The niche “dunning” industry is surprisingly competitive, and Churn Buster often gets compared with ProfitWell Retain. As you’ll see, our approaches to the same problem are radically different.

This comparison is custom-tailored versus one-size-fits-all dunning.

Summary

Churn Buster: Provides the tools and transparency needed for a customized process that improves over time. A professional team does all the heavy lifting for you—with easy setup, frequent product updates, and account management.

Retain: Automates a fixed process, with options limited by design. Assets like email templates, messaging, and follow-up cadence are shared across all business models. This can be a convenient option best suited for early-stage companies.

Differences in Approach

There are fundamental differences in how our companies approach recovering failed payments.

Retain promises to outperform other dunning systems, and backs this with a “performance-based” billing model. Performance is measured by tracking movements in failed payment recovery rate, before and after Retain was turned on.

Retain offers a 100% ROI guarantee, based entirely on this one measurement. Churn Buster no longer measures ROI based on before and after comparisons, for the following reason:

Before and after comparisons for customer retention have proven to be inconclusive, with overall recovery rate not being a good measure of dunning performance. Recovery rate is affected by the same natural variance that occurs with any kind of churn—variance linked to signup dates, plan types, billing cycles, promo codes...

Even seasonality that can impact renewals. For example, Black Friday cohorts generally have a different churn rate than cohorts from other points in the year.

Your dunning process is only one of many factors that impact passive churn rate.

Teasing out the specific impact that dunning changes have on overall recovery rate is a massive undertaking. As a single metric, recovery rate isn’t a good measure of dunning performance.

It’s also not directionally accurate, as shown in this example:

Churn buster recovery rate variance

^^ This company ran the same dunning process from September to November.

Yet, their recovery rate dropped 5% in October.

And it went back up 7% in November—a 13% difference.

With so much natural variance at play, companies need to look for underlying, qualitative measurements instead of comparing retention rates. This is why Churn Buster does not attach fees to performance—the measurements are simply too imprecise.

To anyone price sensitive, pay-for-performance can sound like the best option at first.

But companies have self-reported 30% gains after switching to Churn Buster. With $10k in failed payments a month, and a 50% commission on "performance," that's $1,500/mo in fees.

This company saves over $10,000 in fees every year with Churn Buster, and without the false sense of confidence performance-based pricing can instill.

Custom-Tailored versus One-Size-Fits-All

Retain focuses on a simple approach. A fixed set of email templates are sent over a fixed-length campaign, with emails triggered by each failed payment attempt.

Churn Buster offers a recovery process optimized for businesses on an individual level—with improvements to drive better outcomes with your customers.

Optimization includes:
  • Variable length campaigns to match your unique business
  • A mix of custom, branded email templates and text-based emails for optimal delivery
  • Enhanced retry scheduling for fewer emails sent, fewer cancellations, and fewer support issues
  • A seamless card update experience with no login required, and real-time payment processing (you won’t wait until the next retry happens to get paid)
  • Escalations for high-value customers, including SMS and help-desk integration

This list goes on and on, but the central difference is this: Churn Buster is built to support the unique aspects of the brands we work with.

Our philosophy is that customer experience is where brands differentiate online, and every part of our dunning approach has been designed to enrich that experience.

And importantly: Churn Buster does not attach fees to changes in your retention rate.

With best practices and solid fundamentals in place, your involuntary churn will be kept to an absolute minimum while your company benefits from all the upside of increased LTV. Churn Buster pricing is aligned with the growth of your company at any scale.

Choosing Your Dunning Software

When researching the best option for your business, our recommendation is to ask for specific, visual examples of what’s being offered.

Dunning often runs in the background, and major issues can go unnoticed without visual monitoring.

Even if a process is driven by algorithms and is automated behind the scenes, you need the visibility to genuinely understand the outcomes for your customers.

Questions to ask:

  • How can you monitor what the algorithms are doing?
  • What recent improvements have been made to the standard campaigns?
  • Can you change the timing of emails sent?
  • Is messaging shared across verticals, or is it unique to your brand?
  • How are key performance metrics calculated?

With Churn Buster, you’ll find...

Retry vs card update win percentages
Retry vs Card Update Win Percentages
Fewer customers emailed
Fewer Customers Emailed
Email performance stats
Email Performance Stats
Custom tailored campaigns
Custom-Tailored Campaigns
Custom email templates
Custom Email Templates
Bounced email alerts
Bounced Email Alerts

Working with Churn Buster

The Churn Buster team is all-in on fixing failed payments, and knows how important it is to get the details right—taking exceptional care of your customers. You can expect a high level of service while setting up your account, along with the following:

  • Consultation calls with our executive team, not junior associates
  • Top priority placed on the experience of your customers
  • A secure, reliable service that integrates with your unique payments setup and support team
  • Transparent reporting without “pay-for-performance” attribution based on flawed measurements
  • Simple pricing aligned with the growth of your business

To learn more about Churn Buster, request a demo or get started for free. Demos are available for our “Optimize” plan, best suited for companies over $100k MRR.