What if you knew a subscriber was about to cancel his subscription? You would act to prevent it, right?
Loop’s powerful analytics engine has the capability to predict accounts vulnerable to cancellation based on trigger events and subscriber history. It provides a crucial window of opportunity to act proactively before subscribers are lost. Customers who would have likely quit can be transformed to loyal customers with long-term, cross- and upsell potential.
Examples are subscribers with: very low or no usage; frequent complaints; recurring and unresolved issues; approaching average-retention lifespans; fast-approaching subscription end dates; billing problems; How to Cancel web page visits; and many more.
Sort and monitor subscribers for proactive cancellation preventions with auto-generated alerts signaling that churn triggers are present.
Loop’s proactive strategies include: subscriber touch-base solutions for low- or non-usage; special subscriber support for recurring complaints; systemic churn-prevention technology for common payment-systems problems; touch-base solutions for How to Cancel web page visitors; proactive renewal solutions; aging-customer retention strategies; and many more.
Cancellation channels are set up to engage subscribers attempting to cancel, providing seamless options to easily engage reps trained to resolve their issues before they bolt; and seamless follow-up initiatives effective for promptly reinstating recently cancelled subscribers.
Retention experts are assigned to support subscribers making contact to cancel subscriptions. Successful retention conversations are initiated that prove effective at preventing cancellations and may include: resolving unresolved issues; offering downgrades, upgrades, or relevant cross-sells; extending free trials or paid subscriptions; alternate pricing and payment options; and many more, keeping the subscriber in the active, satisfied customer list.
Saved subscribers are monitored and given preferential, personalized, and proactive treatment, as warranted and feasible, by assigned retention experts until triggers indicate at-risk subscribers are “clear”.
Utilizing Former Subscriber Analytics, former subscribers are scheduled for reliable reacquisition solutions that consistently turn former customers into active paying customers, bringing new revenue to your company’s bottom line.
Subscribers cancel subscriptions or fail to renew for many reasons. A bad experience, unfulfilled expectations, perceived low value, costs, adoption failure, payment-systems failures, or just plain forgetting are just a few. Loop’s people, processes, technologies, and analytics comprise a comprehensive solution for breaking the churn chain. Subscriber retention is dramatically improved, turning potentially lost customers into long-term loyal subscribers who consistently contribute to your bottom line.
To find out more about how your subscription business can take advantage of these easy, effective, retention solutions, schedule a free consultation right now.