At Loomly they view retention as a tripod. The customer success team looks at data and helps to work with customers, the engineering team builds features and fixes bugs, and the management team works on growth and strategy. As they grow, the entire team is obsessed with scaling the feedback loop to make sure they stay in touch with customers and understand all concerns.
Term optimization
The folks over at Loomly make sure to offer an annual subscription both at sign up and once a monthly user has been using the product for a few cycles. By checking customer behavior and how active they are, they can prompt them with the best value for the customer.
Locking out customers.
Locking out a customer can be a last ditch effort to keep them around. By sending dunning emails and communicating the value that will be lost, hopefully you can avoid locking out a customer. But sometimes, it’s the only way to get their attention. Make sure to freeze the account without deleting valuable information in there. That way once you do recover the payment, your user won’t have to reset everything in their account. You don’t want your delinquent churn to turn into an active cancellation.
This is a ProfitWell Recur production—the first media network dedicated entirely to the SaaS and subscription space.
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