A seamless renewal process would make your most engaged and happy members, even happier! As a result, your churn rate would likely decrease.
According to Investopedia, ‘customer churn’, is the percentage of customers, members or subscribers, who retract their recurring purchase. Definitely check out the formula!
It’s unwise to take chances with your membership or subscription renewal process. So, here’s some pointers on how you can make it stress-free and customer-friendly:
Provide Automatic Renewals
Provide Multiple Renewal Options
Notify Members In Advance of Their Renewal Period
Optimize Renewal User Experience
In our forthcoming content, we’ll explore the topic of renewal processes in a bit more depth. For now, please do research and collate ideas on each point!
If you are a community leader, or in the business of community, try a Ugenie hub, for free, for 45 days.
These Related Stories