When it comes to renewals being proactive is crucial. You should always be communicating with your customers as part of your lifecycle marketing. But it’s also good when your payment platform helps to automate customer communication about their renewals. It’s also just as important to proactively manage failed credit card payments to maintain a healthy customer subscription base.
PayMotion’s automated emails, with customizable templates, will give you the freedom to convey your brand, and deliver a tailored experience to your customers. These automated emails will notify your customers of any credit card information updates that are required, or subscription renewals, ahead of time to give both you and customers that peace of mind.
If a customer’s payment does fail, customizable email notifications can be sent to them automatically. Customers can be directed to your self-serve support portal PayMotion provides to securely update their credit card details.
Reviewing those declines, determining if they were hard or soft declines, and contacting customers with soft declines can quickly become overwhelming for any business. PayMotion’s automated retry logic and dunning management capabilities increase the efficiency of your business. Let the PayMotion system automatically retry customers whose credit card payments have failed. The timing, frequency, and sophistication of your retry strategy can have a huge impact on revenue.
Updating credit card data and recovering failed transactions is critical for any online subscription business. Pairing this automation with live billing support is the key to customer retention!