The payment dashboard identifies those who have involuntarily churned due to a payment failure. These subscribers receive a number of notifications to alert them about payment failures. They also receive payment collection re-attempts and called dunning actions. If a dunning action successfully leads to a collected payment, this is shown as recovered revenue and recovered subscribers in the dashboard.
Understanding Why Payments Fail
When a subscription is cancelled due to web payment failure, it’s important to investigate why failures occurred. Mitigating actions could include; offering alternative payment methods, contacting your payment provider to resolve payment issues or simply contacting subscribers to complete the transaction. Understanding these failures will help to mitigate lost subscription revenue. Here are some reasons why payments fail:
- Insufficient funds
- Missing payment details
- Card has already expired
- Detected as fraud
Payment Method Evolution (includes in-app and web payments)
Payment method of actual transactions made in the selected period. A break-down view of payment method, aggregated by period, by payment method - including in app payments.
Take Churn Mitigating Actions!
The ability to segment subscribers based on the payment failure and payment method provides an opportunity to recover recurring revenue. Broadcasters can proactively win back lost subscribers with a targeted list of churned subscribers. By using more direct communication methods to complete the payment transaction. The 'Churn By Payment', customer list includes in-app and web payment cancellations.
Payment Dashboard Data Dictionary
- Dunning actions - All the automated actions Cleeng’s platform performs in order to make the subscribers' payment successful. Including; the total number of dunning authorization & expiration notifications and re-attempts.
- Dunning action Type: Authorization email - All credit card payment providers have an authorization period to allow a charge to be made to a customer's credit card. The authorization process first checks that the credit card is valid and that the card has enough funds on it.
Note** If the authorization check was unsuccessful the subscriber will receive a notification email. This states an issue has occurred when trying to complete an authorization check. The payment transaction will therefore, be unsuccessful.
This authorization check can occur before a trial period ends. It can also be right before a subscription is up for renewal. Successful authorization attempts are measured as recovered revenue and as a recovered subscriber.
- Dunning action: Re-attempts - When the first recurring payment fails a series of payment collection attempts will try to move the funds. Depending on the payment provider these re-attempts can occur multiple times, even as many as5+ attempts. If any of the re-attempts succeed then ChurnIQ measures this as recovered revenue and a recovered subscriber. If the entire series of re-attempts fails then the subscriber’s access to video content will be terminated and the subscriber will involuntarily churn at the date of termination.
- Dunning action: Expiration email - Dunning includes the process of identifying subscriptions that are about to expire, or that have already expired, and sending the customer reminder notifications in an attempt to collect payment. Successful attempts at getting the subscriber to update expired payment methods are measure as recovered revenue and as a recovered subscriber.
- Recovered revenue - The sum of the revenue when the transaction matches renewal that had at least one dunning action since the previous renewal This amount is equal to what the 'recovered' users paid for the subscription renewal
- Recovered subscribers - The sum of subscribers whose first payment failed but one of the re-attempts was successful.
- Churned by payment failures (includes web payments only) - Total number of subscribers who churned by payment, grouped by the selected period. Each color of the stack bar represents the payment failure reason for each churned subscriber
Churned by payment customer table (includes web and in-app)
- Previous active period - Shows how long (days) the subscriber had an active subscription before churning due to a payment failure. Free subscribers can also churn because payment information can fail
- Churned date (CEST) -The date and time the subscriber churned due to a payment failure. This date and time also represents when access to video content is terminated. Termination date. Central European Summer Time.
- Payment method - The last payment method the subscriber was using when the subscriber churned due to a payment failure.
- Failed reason - The reason why the payment failed is retrieved directly from the payment providers. Therefore the range of payment failure reasons is dependent on what is collected
- by the payment provider.
- Offer ID - The offer id of the subscriber’s plan. A subscriber can subscribe to multiple plans.
- For any further questions, please contact the Cleeng Customer Success Team