Credit cards make automated payments for SaaS subscription payments a breeze—when they work. As with any system, though, a revenue model built on revolving payments is bound to have some flaws, even when using a robust payment processing service such as Stripe.
Many times, those flaws come down to simple problems with your customers’ credit cards that result in failed payments. Simple though these problems may be, they can do tremendous harm to your SaaS business’ bottom line. Why continue to struggle with them when they’re so easy to fix?
Churn and Time Drains can Kill Your SaaS Profits
Failed credit card payments can hurt your SaaS business in two ways. First, of course, there’s the ever-dreaded problem of churn. A credit card payment that doesn’t go through might simply mean one failed transaction for some businesses, but for an SaaS company that depends on subscription revenue it can mean a long-term customer suddenly gone. Months or years of revenue can be lost through a simple glitch or a customer’s forgetfulness, and not through any fault of your business or the service you provide.
Credit card-based churn is something most companies have experienced, and most have also found it worthwhile to develop processes that address the issue. While this helps mitigate the damage done by failed payments, it creates a new issue—that of human resource and time drains. Following through on all of your failed payments takes time, and that means it’s costing your SaaS team and your shareholders/backers reinvested revenue that could otherwise go to paychecks and profits.
What you need—and what all SaaS and other subscription-based businesses need—is an automated way to handle failed credit card payments. A way that prevents the churn these failed payments can create without taking up inordinate resources, keeping your revenue free for better uses.
Stunning Lets You Capture and Keep the Revenue Your SaaS Business Deserves
We developed the Stunning app with subscription-dependent SaaS businesses specifically in mind. Setup takes mere minutes and it integrates seamlessly with Stripe, monitoring your payments and making sure they all go through like they’re supposed to.
When a payment fails, Stunning kicks into gear, notifying your team and sending a customized, personalized email to your customer letting them know there’s been a problem with their payment. You can turn a common problem into a chance to offer stellar customer service with quick and personable communications—give your customers a chance to let you know if they’ve been experiencing any problems, rate their satisfaction, and make suggestions, all while ensuring they stay your customers with updated credit card information or other corrections that allow you to process their payments.
Be Stunning. Build Profits. Reduce Churn and Resource Drains.
No more letting failed credit card payments drag your SaaS business down through churn or the time spent preventing it. With Stunning, you and your customers get everything you have coming to you without even trying.