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's Subscription Saver can be described as a dunning tool which provides the solution to online sellers. It detects automatically payment problems and provides customers for assistance. Here is everything you need to know about Subscription Saver.
What exactly is Dunning?
Dunning is the method that involves communicating with clients after payment has been denied. The phrase "dunning" may convey negative meanings, often implying the business has been overly involved in communication with customers about money owed. The term is however applicable to any communications following payment rejection--including those that benefit both the business and the client.
5 Benefits of Dunning with the Subscription Saver
We process the payment prior to providing your services or products, so there is no need to communicate aggressively or fear of losing profits. Instead Subscription Saver Subscription Saver will communicate with those who do not realize that their payment has failed, instead of kicking your client off their subscription service. The dunning process has several advantages, such as:
1) Offering Customers Support with Payment Transparency
Informing buyers of possible problems with payments, dunning may aid in alerting customers to the possibility of banking problems--for example, the expiration of a card or an insecure account. For example, let's say that a bank account belonging to a customer has been hacked. If they are aware of the breach, the earlier they'll be able to act to secure their funds. Help customers spot difficulties early, and prevent further difficulties with finances by notifying that they have a failed payment.
2.) Prevention of Lapse during Service
Your customers purchase your products for reasons, and they'll are likely to look forward (or perhaps rely on) your service. When you are using an e-commerce site which does not provide Dunning services, a customer might get dropped out of your service without notice. The subscription saver can help keep any expiration from a customer's membership due to a mistakenly defaulted payment.
3) Easy Payment Updates
When customers need to update their payment information and payment information, the Subscription Saver does more than send out the reminder. It allows users to send the updated information directly from their inbox--making these routine updates quick and easy. Your customer is likely to be grateful that they did not need to track down or update their settings in their account manually.
4) Helping Creators and Businesses Maintain Their Revenue
With the help of using dunning, companies are able to retain clients and increase revenues. Over the last six months, our Subscription Saver has recovered $791,873.00 of recurring income to sellers.
5) Ease Overhead Work
As a content creator or small-scale business owner, you may not have the time to monitor the payment status of every client. In streamlining the outreach to customers and communications process it also helps reduce the overhead administrative work that would otherwise fall on your businesses.