Butter Payments’ Post

You've been laser focused on fixing active churn, but did you know you could reduce overall churn and increase ARR by 5%+ by focusing more on passive churn? Here's some facts about Passive Churn: - Failed payments will cost the subscription industry an estimated $650B in 5 years - 50% or more of customers will not update their payment method if a payment fails - 1/3 of customers won’t shop again with retailers that reject their purchase due to a false decline - 25% are likely to post negative comments on social media about their experience - 5% of subscription customers are lost each year when legitimate payments fail Learn more about how involuntary churn is affecting your business: https://hubs.li/Q02GZ6qj0

Reduce churn more seamlessly with ML. Sometimes taking the easy road really is the best path forward. Get exact stats on how much we can reduce churn for your subscription business by getting in touch with our team of payment experts: https://lnkd.in/gpxaNRe3 ⭐️ Bonus: Some insider tips on reducing churn: https://lnkd.in/gP_n4gRf

"Failed payments are not just a minor inconvenience but a substantial revenue leak demanding attention. False declines result in over $400 billion in lost revenue. Despite efforts by companies to tackle underlying issues, the problem persists. I’ve witnessed businesses losing out on 10% to 20% of revenue for this one reason." - Vijay Menon, Butter Founder & CEO in Forbes Learn more about the silent impact of payment failures: https://hubs.li/Q02FQB8m0

Our story with Hairstory 📔 1️⃣ The Background - Hairstory was searching for a way to recover more failed payments, retain subscribers, and maximize financial performance after determining something was missing with their current partner, Recharge. 2️⃣ The Beginning - Prior to working together, we conducted a payment health analysis, completely free of charge, to show them that they were losing 10% of revenue to failed payments & static retry strategies. 3️⃣ The Middle - After a zero-risk 3 month partnership, Hairstory was able to retain 18% more revenue and increase their recovery time by 25% 4️⃣ The End - To this day, we’re still working with Hairstory to help them recover revenue, using our ML technology to get even better at honing a unique, dynamic retry strategy. Get the full breakdown https://hubs.li/Q02FjfrB0

Ready to tackle churn and keep your customers happy? Dive into our blog: "3 Effective Strategies for Churn Reduction in Subscription Businesses" What's inside? 1. Cracking the churn code with specific tips. 2. Turning active churn into loyal fans. 3. Using machine learning magic to fix passive churn and streamline payments. Learn how you can keep your subscribers around while boosting your revenue. 👉 https://hubs.li/Q02DWb190 #ChurnReduction #SubscriptionBusiness #CustomerRetention #RevenueGrowth #MachineLearning #BusinessStrategy

🔒 When it comes to your customer data, you’re in good hands. Our system is designed with the highest security standards in mind. 👇 Here’s just a few security measures we have in place so you can rest easy while we solve your failed payments. Learn more at https://hubs.li/Q02DvmQ00

SubSummit 2024 is in the books! 🔥 Thank you to everyone who swung by our booth to say hello! We were very excited to show off our Butter 🧈 costume and our solves for ending involuntary churn.  We want to give a special shoutout to Laura Crowther! She spilled all her secrets for boosting subscriber retention at UrbanSitter by 45%, including some frictionless recovery strategies powered by us. And S/O to Butter CMO Alycia Simpson for hosting the conversation! There were so many amazing sessions, but here are some of our favorite takeaways: ✅ During a session with the Founder & CEO of Gals That Brunch, Tiffany Alysa Accardi, told audience members that all retention efforts should consistently remind subscribers that they signed up to solve a need. A fantastic mindset shift. ✅ Attended a great churn mitigation session with Erin O'Neill from Audiobooks.com, Karen Ayyagari from Bobbie and Kimberly Miller from Payway®. Key takeaways around finding the right balance quantity vs. quality of customers when optimizing for both acquisition and retention. ✅ There’s a huge growth opportunity many folks are still missing out on – solving failed payments to drive subscriber retention. We walked away with the sense that brands see involuntary churn from failed payments as just the cost of doing business–it’s not. It’s an issue that can be easily solved – and it so happens to be our bread and Butter! What were some of your favorite takeaways?  #SubSummit2024 #Subscription #DTC