Churn Buster- How Subscription Brands Use Psychology for Retention

The Story of a Brand

Ramon Vela

Business, Entrepreneurship

5 • 145 Ratings

🗓️ 19 December 2019

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this special episode, we interview Kristen LaFrance, Head of Community & Growth at Churn Buster, the #1 tool for recovering failed payments and preventing involuntary churn for subscription e-commerce & SaaS brands.

In Part 1 of this feature, Kristen discusses Why Customer Experience is everything, What is Denning and why you should care, How Churn Buster works, When should a brand use Churn Buster, How to get Churn Buster for free, What are the different types of declines, How brands can recover 60% of revenue, The difference between basic denning and Churn Buster, What are the 3 different categories of Subscription and how to use psychology to retain more customers, Why it's critical to put your self in the shoes of the customers and so much more.

Join us while Ramon Vela interviews Kristen in Part 1 of this episode and listen to her share the inside story of a brand.

For more on Churn Buster visit: https://churnbuster.io/pod

Gorgias - Gorgias.link/story
teelaunch - teelaunch.com/story
Retention Science - RetentionScience.com

Transcript

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0:00.0	Recorded at Retention Science Studios, this is not your average entrepreneur or e-commerce podcast, and he's not your average host.
0:14.4	This is The Story of a Brand with your host, Ramon Vela.
0:21.3	What's actually happening in the mind and the story and the life of your customer,
0:25.4	it's making these changes because it's so easy as a brand to get caught up in, you know,
0:30.3	well, I love my product, I know this is a great product,
0:32.6	I know this customer needs this product, why would they want to stop?
0:36.0	But it's, I'm always telling brands, like,
0:38.5	separate yourself from your product and jump into the shoes of your customer. What is it actually
0:43.0	like for them to go through this? How can you dig deeper into that story that they're living
0:47.6	so that you can then fill the gaps in it? Hey, thanks very much for joining us today. This is going to be a fantastic episode.
0:56.0	However, before we begin, I have something kind of serious to talk to you about.
1:00.0	Now, did you know that on average 15% of online credit card payments get declined?
1:06.0	Now, if you're a subscription business, this can have a huge impact on your churn rate.
1:11.1	Now the good news is that most of this is recoverable.
1:14.6	Churnbuster helps subscription businesses recover failed payments and reactivate those subscriptions.
1:20.6	Now, it plugs right into your payment processor and resolves billing issues automatically.
1:25.6	Now getting set up with Turnbuster takes less than five minutes,
1:29.0	and if you're just getting started, you can try out their free plan for recharge. To learn more,
1:34.5	visit churnbuster.io slash P-O-D again, that's churnbuster.io-slash p-od. You know what stinks? It's spending all your freaking money on driving traffic to your
1:47.3	site, but only converting one or maybe 2% of them to sales. Now, this is a really common problem,
1:53.6	and fortunately, Privy is sitting out to solve this. Over 300,000 loyal business owners
1:59.5	trust Privy with list growth and increasing conversion.
	...

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