Reduce customer churn caused by failed or delinquent payments.
Dunning is the process of communicating with at-risk customers to bring their accounts current after a failed payment attempt.
All Chargify plans include easy-to-configure dunning management tools that allow you to control credit card retries, email notifications, and account cancellation logic.
ROI varies, but recovered revenue averages 4 times the Chargify monthly fee for B2C merchants and over 10 times the fee for B2B merchants.
Proactively prevent failed transactions before they happen with customizable emails based on events such as end-of-trial, renewal notices, and credit card expiration notifications.
Do not give up on lost revenue after a payment failure. Configure retry logic to keep trying after failed transactions.
The most important component of a dunning strategy is customer communication when transactions fail and accounts become past due. Chargify lets you customize and schedule multiple emails to re-engage with these accounts and reel them back in.
Even with a robust dunning strategy, some customers will not respond. Define how many days after the account is “past due” that cancellation will occur.
Customize the cancellation email to communicate what action has been taken and what features will be unavailable. Choose to offer an incentive if they change their mind and include information on how to reactivate their account.
Chargify’s reporting allows your team to monitor and export subscriptions that have entered into the dunning process. This is helpful to identify at-risk accounts, so your sales or customer success team can re-engage with these accounts above and beyond system communication.
At Knobby, we use Chargify’s dunning email workflows to help ensure that past due accounts are re-engaged and maximum revenue is achieved. It works!