ProsperStack is the churn-reduction toolkit for your customer cancellation experience, and it just got a whole lot more powerful with these great new features:
- Define customer segments to precisely target offers and save more revenue
- Integrate with Chargebee for the same automated goodness as our Stripe integration
- Pause customer subscriptions or extend trials automatically with two new offer types
No two customers are exactly alike, and not all customers will respond to the same messaging or special offers. How long they’ve been with you or what plan they’re on can have a significant bearing on how much you value them as a customer and what is likely to retain them if they are considering cancellation.
That’s why we added customer segments. A segment is a way to differentiate your customers based on the information in your payment processor. Attributes like billing interval, MRR, trial status and plan can be used to define segments. Combine segments and survey responses to create rules that determine which customers see which special offers, then test your results to maximize the effectiveness of your offers.
The possibilities to segment your customers are nearly endless. Here are just a few possibilities:
- Extend the trial duration for new customers that aren’t ready to buy. Customers don’t always make good use of a trial period. If your product uses a paywall for your free trial, offering a trial extension when a customer goes to cancel is a great way to increase your initial conversion rate.
- Apply a coupon for a customer that isn’t getting the ROI they expected. When a customer cites ROI as a reason for leaving, it really just means they’re paying too much for your product for what they’re getting out of it. Applying a temporary coupon so that you can work with them to get the most out of your service is one way for them to give you another chance. A temporary hit in revenue is far better than a canceled account.
- Give an option to pause subscription for accounts under $200 MRR and have been customers for less than 6 months. Smaller, newer customers tend to be more subject to fluctuations in business. Giving an option to pause a subscription for a few months is far better than letting them churn and having to win back their business all over again.
Learn more about creating offer rules with segments in our documentation.
Chargebee joins Stripe as a ProsperStack-integrated payment processor. Connect your Chargebee account to automatically track cancellations and key stats like inactive MRR and to make use of automated offer types like coupons. Learn how to connect a payment processor.
For your best chance of reducing churn at the point of cancellation you’ll need many different ways to entice customers, which is why we’ve added two new offer types:
- Pause subscription - Allow a customer to disable payment collection for a period of time. Choose the number of days, weeks or months to pause the subscription. Or, pause indefinitely.
- Trial extension - Give a customer more time to get started. Set a number of days by which to extend the subscription’s trial period.
Stay tuned because there’s a lot more coming to ProsperStack to help subscription businesses make the most out of their customer cancellation experience.