Your business has a loyal base of subscribers. They pay on a regular basis and your subscription billing seems to go well. If only it would be this easy. What happens when your subscriber's credit card expires or fails?
Presumably, there aren’t many managers that sit around a boardroom table and say our goal is to really piss off our loyal customers or how could we make the customer experience worse.
I have been a loyal subscriber to an unnamed company for many years. Everything went well until last month. My credit card expired and my account was canceled; with no notice, no warning, and no grace period.
Do you use an effective subscription billing system?
How does this happen? I suspect that the company did not have an effective subscription billing system that would anticipate and prevent the subscription service cancellation. Typically, companies create a process to tackle failed credit cards ( if attempted_charge fails, terminate account). The problem is that this process does not differentiate between all the possible scenarios of fail credit cards. It is a domino effect where each failed credit card ends as canceled.
Fusebill, a subscription billing management platform helps small-medium enterprise (SME) grow their subscription business by managing the customer lifecycle. And because it is fully automated, you would be warned before your card expires, allowed a suitable grace period, and your account will be terminated only after a repeated attempts of contact. All of which can be fully customized by you.