By focusing on the lifetime value of customers and proactively engaging them, cleverbridge helps you minimize your churn rate and capture additional revenue. Achieve your revenue retention goals and grow your business with the following strategies and tools:
Voluntary churn occurs when a customer An individual or business purchasing your product or service by placing an order through Cleverbridge. The customer is the end user of this product, as they are not allowed to resell the purchased products or services. A customer is unique per client. If a customer purchases products or services from two different clients, there are 2 separate records of said customer. actively chooses to cancel their subscription. To prevent voluntary churn, you can implement a number of prevention measures.
Increase your average order value by letting your customers pick the subscription plan that best fits their needs in the shopping cart.
The Plan Selection is a pick list that helps your customers select the most advantageous subscription offer, which helps decrease the risk of churn significantly as customers receive the best value for their purchase.
In the following cart, the customer selects a 3-year subscription with the highest discounted price instead of the pricier 1-year and discounted 2-year subscription.
To add a plan selection to your shopping cart, do the following:
- Open the Products > Selections section in the main menu of the Subscription Commerce Manager.
- Click the Add Plan Selection button and complete the relevant information in the following sections:
Enter a unique name for the plan selection.
Plan Characteristics Selector
Select up to three different billing options for one subscription product. Three options are available to you, each described in detail in the dropdowns below:
- To choose an existing characteristic, click Select Duration Characteristic.
- To create a new one, click Add New.
- Use available templates.
Internal Characteristic Name
Enter a unique name for the characteristic.
Plan Selection Header
Enter a header for the plan selection.
Plan Option Header
Select an existing header or add a new one for the billing options and click Submit.
World-Class Customer Support
When a customer has a problem with a product or subscription, you need to solve this problem as quickly and smoothly as possible. If the problem is not solved in a timely fashion, the chance of voluntary churn rises substantially. For more information about how the Cleverbridge Customer Support team supports customers who have problems with their payments, see Cleverbridge Customer Support.
Email Marketing Campaign
When a customer's renewal date is approaching, you can send the customer an email or in-app In-app refers to services and features that are available from within a software application, usually in a mobile phone app. communication, encouraging the individual to renew the subscription. This communication could include change payment links so that the subscriber can update payment information quickly and easily. Alternatively, you could include discounts or special offers in the email marketing campaign. For more information, contact Email Marketing.
Cancelation Survey before Cancelation
Before a customer cancels a subscription, you can include a survey on the cancelation page. Using this survey helps you find out why customers want to cancel and potentially optimize your product or processes based on this feedback. It also gives your customers the chance to reconsider unsubscribing.
The following is an example of a Cancelation Survey, asking customers to fill out a brief survey before canceling, explaining why they would like to cancel.
Cancelation Survey after Cancelation
After a customer cancels a subscription, you can also include a survey on the confirmation page The confirmation page is displayed after a customer makes a purchase. The confirmation page contains the order confirmation and delivery information.. Using this survey helps you find out why customers canceled and potentially optimize your product or processes based on this feedback.
The following is an example of a Cancelation Survey, asking customers to fill out a brief survey after canceling, explaining why they canceled the subscription.
The less friction and the more reminders your subscribers receive, the less likely they are to involuntarily churn. To prevent involuntary churn, you can implement a number of prevention measures.
Automate Subscription Renewals
Automated renewal programs help you retain subscribers longer, while lowering your marketing costs and increasing customer lifetime value. This allows you to focus on improving your product.
For more information about how Cleverbridge supports automatic renewals, see About Subscription Renewals and Payment Reminders.
To prevent or counteract online payment Stands for a group of payment options that do not require the customer to submit the payment in an extra step after submitting the order. Online payments include credit, debit cards, and digital wallets. With an online payment option, the product is delivered almost immediately (as soon as the payment is processed which usually does only take a few seconds). failures, Cleverbridge offers Revenue Retention Tools. These tools work together to increase the acceptance rate of credit cards when an online payment fails or an expired credit card is detected.
For more information, see Collect Failed Online Payments Automatically.