Customer retention is the true indicator of predictable revenue and lasting profitability for subscription billing business models.
Communicating with your customers at the right time in the right manner can greatly influence whether a customer stays with your service. CashBox gives you the ability to send messages to your customers triggered by specific billing events. By carefully crafting and timing these messages, you can dramatically reduce cancellations and increase retention.
Payment failures can happen for a wide variety of reasons (e.g., reissuing a stolen or expired credit card, temporarily exceeding a credit limit) and are a function of doing business online and accepting cards. It is important to ensure that a customer never leaves your service due to payment failures that could easily be fixed by CashBox. Our CashBox solutions help our clients minimize customer losses due to payment failures through our patent-pending Advanced Retention Technology, which features smart business rules to retry cards, offers full integration with Account Updater services with payment processors, and also stores highly secure “payment wallets” that have backup payment methods - ensuring that the highest possible percentage of transactions are successful.
Create and provide timely and appropriate customer retention offers with the Campaign Management abilities in CashBox. When a customer chooses to cancel their account, you have the ability to automatically offer them the opportunity to use a coupon or promotion for discounted services or products. CashBox also can easily handle upgrades, sidegrades and downgrades to move customers to a different usage tier or to another product.