Build a Database of Repeatable Successful Plays

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If you look closely at reporting, you will find that expired credit cards often cause failed payments. But in general, failed payments are occurrences you can fortunately prevent. For example, some programs or services can automatically email customers regarding their payment details before their credit cards expire, and payment failures can even occur. They will also retry payments multiple times when a payment collection has failed at strategic intervals. Even without a service handling payment in this way, you can set up a manual email to send to your customers to confirm their details before renewal. Or you could work to set up direct debit payments, bypassing the credit card issue entirely. Taking these steps would significantly help in boosting your renewal revenue.

Improving your renewal rates using a specific strategy is albania telemarketing not something you can do once and then check off your list. If there’s no database or place to record successful instances and strategies, you’ll be unlikely to pull them off consistently. You’ll need an actual blueprint for boosting renewal rates which will be available to all of your various teams within the business. Each person needs to be on board with the specific business strategy to truly improve your renewal rates. These teams can then compile and use all action items to ensure that the product has continued engagement, action, and winning results.



This playbook will then include strategies for contacting and managing customers when there is a payment issue. Documenting how to track which customers have renewed and which still require recovery messages should also be thoughtfully planned out. You could even include incentives for your teams when customers renew early to incentivize and show this goal's importance. Build a detailed collection of standardized organizational knowledge for all who work in the business, and you will create processes and protocols within your organization.

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