The Subscription Saver: Everything You Need to Know
Subscription services help creators monetize their work with reliable and consistent revenue. But what happens when a customer's credit card on file expires? Or when their card mistakenly gets declined? Common issues like these can hurt subscription retention—and your bottom line. SamCart’s Subscription Saver is a dunning tool that provides a solution for online sellers. This tool automatically detects payment issues and reaches out to customers with support. Here is everything you need to know about the SamCart Subscription Saver.
What is Dunning?
Dunning is the business process of communicating with customers after payment has been denied. The term “dunning” can have negative connotations—often implying that a business is excessively communicating with customers over money owed. However, the term applies to all communication following payment rejection—including those that benefit both the merchant and the customer.
5 Benefits of Dunning with the Subscription Saver
At SamCart, we process your payment before delivering your products or services, so there is no need for aggressive communication or the fear of lost profits. Instead, our Subscription Saver will communicate with customers who might not know that their payment failed rather than kick your customer off their subscription service. The dunning process has several benefits, including:
1) Supporting Customers with Payment Transparency
By notifying buyers of payment failures, dunning can help alert customers of potential banking issues—such as an expired card or compromised account. For example, let’s say a customer’s bank account is hacked. The sooner they know about the breach, the sooner they can take action to protect their finances. You can help customers catch problems early and avoid further financial trouble by notifying them of payment failure.
2) Preventing Lapse in Service
Customers buy your services for a reason—and they likely look forward to (or even rely on) your subscription. When using an e-commerce platform that does not offer Dunning services, a customer might get dropped from your subscription without warning. The subscription saver can help avoid any lapse in a customer’s membership due to a mistakenly defaulted payment.
3) Easy Payment Updates
When a customer needs to update their payment information, the Subscription Saver does more than just send a reminder. This tool lets customers provide their new payment information straight from their inbox—making these routine updates quick and easy. Your subscriber will likely be thankful that they do not need to track down and update their payment settings manually.
4) Helping Creators and Businesses Maintain Their Revenue
With the help of dunning, businesses can retain more customers and maintain revenue. Over the last six months, our Subscription Saver has recovered $791,873.00 of recurring income for SamCart sellers.
5) Ease Overhead Work
As a content creator or small business, you might not always have the resources to keep up with every customer’s payment status. By streamlining the customer outreach and communication process, dunning also reduces the overhead administrative work that would otherwise fall on your businesses.
Build and Manage an Online Subscription Service: SamCart
SamCart’s Subscription Saver is included at the Scale membership level. Our e-commerce platform makes creating and managing an online membership or subscription service easier than ever. You can sell almost anything with SamCart—including digital products, online courses, and physical products—and our Subscription Saver will help you keep your revenue flowing. Try it risk-free with a SamCart trial, or view a demo to learn more today!
What is the Subscription Saver feature, and how does it work?
Subscription Saver is a powerful tool designed to help you retain subscribers and reduce churn. It works by automatically reaching out to customers whose subscription payments have failed, offering them a chance to update their payment information and keep their subscription active. By providing this second chance to your customers, you can recover potentially lost revenue and keep your subscription business thriving.
Can I customize the Subscription Saver messages sent to my customers?
Yes, you can! SamCart allows you to personalize the messages sent to customers through the Subscription Saver feature. You can tailor the content and tone of these messages to match your brand's voice and style. Customization options include subject lines, email content, and the timing of follow-up messages, ensuring that your communication aligns with your brand identity.
Is there a cost associated with using Subscription Saver?
Subscription Saver is available as part of SamCart's subscription management platform. While there may be fees associated with your SamCart subscription plan, the use of Subscription Saver itself does not incur any additional charges. Its primary goal is to help you save revenue by preventing subscription cancellations due to payment issues, making it a valuable asset for subscription-based businesses of all sizes.