Maximizing Customer Lifetime Value in Volatile Times with Paul Larsen of Optimized Payments

Subscription Stories: True Tales from the Trenches

Robbie Kellman Baxter에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Robbie Kellman Baxter 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

2+ y ago 43:21

MP3•에피소드 홈

The single biggest source of churn might surprise you.

It’s not a communications issue, or a product/market fit issue, or even an onboarding problem.

The biggest driver of churn in most consumer subscriptions is what’s known as passive or involuntary churn.

Involuntary churn is when a customer is canceled due to a payment issue or other technical problem.

According to ProfitWell CEO Patrick Campbell, a recent guest on Subscription Stories, involuntary churn makes up 20-40% of overall churn.

Many organizations don’t even track passive churn, and that’s a mistake, because there are ways to manage.

Today’s guest, Paul Larsen of Optimized Payments, is one of the leading experts on “card not present” payments, and works with many of the largest subscription businesses in the world on churn management. He launched his career at Reader’s Digest, one of the earliest and largest subscription publications in the world. When Paul started, churn management focused on getting people to renew their subscription by mailing in a check. Since then, he has been deep in the world of credit cards, debit cards and alternate payments, helping subscription merchants reduce costs and increase customer retention.

In our conversation, we talk about why so many good subscribers end up in the dreaded “do not honor” bucket, who should own passive churn in the organization, and how to bring together the right team to manage involuntary churn.

Excerpt:

Subscriptions are great. We love them, but there's promise and peril associated with them at all times. We are joined by Paul Larsen of Optimized Payments, one of the leading experts on "card not present" payments. He shares his vast knowledge about working with the largest subscription businesses on churn management as he discusses the reasons behind the dreaded "do not honor" bucket and how to build the dream team to address this involuntary issue.
Love the show? Subscribe, rate, review, and share!

Here’s How »

Join the Subscription Stories Community today:

88 에피소드

#Entrepreneur #Business #Robbie Kellman Baxter #MBA #Best Practices