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Voluntary Churn Prevention

Voluntary Churn Prevention

Last updated: 07-Feb-2023
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Overview

Voluntary churn happens when a customer decides to end the relationship and stops using your product or downgrades from a paid version. Preventing voluntary churn requires the right combination of product engagement, customer experience, and perceived value. If customers don’t use your product often, don’t have a good experience when they do, or don’t see value in your product, they won’t stick with you. This holds true whether you’re talking about free trial users considering a paid upgrade or paying customers deciding whether to renew.

2Checkout's retention tools help you reduce customer churn and gain useful insights into what drives customers to cancel automatic renewals. Use 2Checkout's out-of-the-box retention capabilities to:

  • Leverage proactive subscription enrollment to increase renewals and generate additional revenue. Use special deals to deepen loyalty and incentivize your customers to enroll in automatic subscription renewals.
  • Decrease churn and prevent recurring revenue from "leaking" by converting cancelations into continued subscriptions. Offer the right incentives to the customers that decided to cancel their subscriptions and make them change their minds at the point of exit.
  • Turn threats into opportunities by capturing your customers' feedback at the point of cancelation.

Voluntary Churn Prevention Tools 

Reduce voluntary churn and revenue spillage and uplift your revenues by up to 10% by using 2Checkout's Voluntary Churn Prevention tools. 

  • Offer discounts during the churning process to entice price-sensitive subscribers to stay. Activate a churn prevention campaign, and make discounts attractive enough to make a difference.  

  • Offer subscribers the option to pause their subscriptions instead and then have these automatically resume at a specific date without reacquisition costs, using the pauseSubscription API.  

  • Extend the subscription duration and ask subscribers to re-enable automatic renewal right after they cancel it, to minimize the chances of them churning.  

  • Allow subscribers to downgrade to plans not as rich in functionality but which are also cheaper using custom downgrade links.  

COVID-19 Resources for 2Checkout Merchants

2Checkout always strives to help merchants and their businesses thrive and in the current context of the COVID-19 pandemic, we've put up a collection of resources that can help you maintain a steady profit and not lose customers during this challenging period. 

2Checkout's retention tools introduce a smart and easy way to reduce customer churn and gain useful insights into what drives customers to cancel automatic renewals. Use 2Checkout's out-of-the-box retention capabilities to:

  • Leverage proactive subscription enrollment to increase renewals and generate additional revenue. Use special deals to deepen loyalty and incentivize your customers to enroll in automatic subscription renewals.
  • Decrease churn and prevent recurring revenue from "leaking" by converting cancelations into continued subscriptions. Offer the right incentives to the customers that decided to cancel their subscriptions and make them change their minds at the point of exit.
  • Turn threats into opportunities by capturing your customers' feedback at the point of cancelation.

 

 

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