Recurly payments decline management strategies reduce churn and boost monthly subscription revenues by an average of 12.7%.
SAN FRANCISCO – March 23, 2022–(BUSINESS WIRE)–Recurly, Inc., a leading subscription management and billing platform for high-growth, digital brands, announced it recovered over $794 million in revenue for its customers in 2021 through industry leading dunning technology. This milestone is a 32% YoY growth from 2020. Each year, businesses lose on average 7.2% of subscribers monthly1 due to “passive churn,” customers who have lapsed because of changes to their payment methods or expired cards. Recurly utilizes machine learning to identify opportunities to reduce churn and recapture revenue that could disappear due to declined subscription payments, customer behaviors or outdated payment methods.
By tapping into enhanced machine learning paired with best practices, Recurly has become an industry-leader in revenue recovery in the subscription space. With advanced credit card retry logic supported by 12 billion transaction elements, unique strategies by payment type and region, and flexible dunning campaigns, Recurly continues to drive bottom line revenue improvement for its customers. Recurly’s platform creates opportunities for its customers to better recover revenue, manage customer churn, aid in retention and re-engage lapsed customers through customized insights, analytics and marketing.
Subscription growth hinges on a great user experience. By continually optimizing and ensuring that payment is made, not only do Recurly customers recognize up to 12% more revenue – valid consumers don’t run into issues with their subscription. This helps to eliminate a major cause of customer churn and frustration.
“At Recurly we are focused on a great subscription experience that drives growth – through smarter tools and best practices, to recover, retain and grow subscriber relationships,” said Jonas Flodh, Chief Product Officer at Recurly. “We go beyond simple, static, retry logic. We utilize advanced statistical models and machine learning to create a dynamic platform that examines more variables and variable combinations to increase transaction success rates.”
In addition to the machine learning model, Recurly has multiple decline management strategies that help reduce the involuntary churn. Partnering with its customers, Recurly develops a custom retry model, generating an average 7% lift in retry recovery rate on top of existing intelligent retries. Some customers see lifts up to 16%.
Recurly provides a flexible and scalable subscription platform to support subscription commerce for thousands of brands in more than 195 countries and 140 currencies. Recurly helps companies scale subscriber growth by optimizing the consumer experience while reducing the operating cost of managing recurring billing and payments.
For more information about Recurly’s revenue recovery model, visit https://recurly.com/resources/tools/recovered-revenue-calculator/
Thousands of innovative companies across digital media, streaming, publishing, SaaS, education, consumer goods, and professional services industries rely on Recurly to unlock transformational growth using subscriptions. Recurly’s all-in-one, integrated platform removes the complexities of automating subscriptions at scale by enabling teams to manage and optimize their subscriber lifecycles with ease. Category-defining companies including Sling, Twitch, BarkBox, FabFitFun, ViacomCBS, Lucid, and Sprout Social have chosen Recurly to manage billions of dollars in recurring revenues, future-proof their recurring billing and payment operations, and recover millions in lost revenue due to churn. Founded in 2010, Recurly is based in San Francisco, with offices in Boulder and New Orleans. For more information, visit https://recurly.com.
1Recurly Subscriber Retention Benchmarks, 2021. https://recurly.com/research/subscriber-retention-benchmarks/