Tackle Passive Churn with Stay AI’s Smart Dunning Tool

Tackle Passive Churn with Stay AI’s Smart Dunning Tool

Did you know that recurring card transactions fail approximately 24% of the time? The experts at Stay have observed that out of these failures, over 25% can be attributed to generic card declines, and over 16% come from insufficient funds. These are typically recoverable errors—as long as you have the right tools.

To combat passive churn—losing subscribers through payment failures—brands need the most up-to-date payment recovery tools to 1) get a clear and comprehensive view of what is happening with failed payments and 2) know precisely what to do next based on the error code returned on initial payment attempts. 

The best brands use the most innovative tools available to manage payment recovery and ensure that no recurring revenue slips away.

Stay AI is thrilled to launch Smart Dunning alongside our new Dunning Analytics Dashboard. Our Dunning Analytics Dashboard shows you an overview of where customers are churning passively and actively during the Dunning process. Now, Smart Dunning, leveraging our proprietary AI, takes all the guesswork out of setting up a successful billing retry schedule. 

Take a Deep Dive into the Analytics

When it comes to investigating billing failures, the objective is clear: You need to clearly understand what’s happening to act quickly and recover more payments more successfully.  Subscription billing can be confusing and even more complex if a card fails to bill. Stay’s new Dunning Analytics Dashboard makes understanding why payments are failing crystal clear. 

This new page in the Stay AI merchant portal shows data around subscriptions currently in dunning, top causes of failed billing, subscription recoveries, and subscriptions canceled from and during dunning.

All of this information allows you to identify billing issues and see where to adjust dunning-related notifications to better meet your customers’ needs as well as your own! 

Leverage AI to Know What to Do Next

Recover more subscriptions by utilizing our proprietary machine learning. Traditional models rely on retrying payments every few days using a preset number of retries. Stay AI’s Smart Dunning tool eliminates any guesswork and uses our proprietary AI model to take into account billing failure information to determine the best course of action for a successful billing attempt. 

With Smart Dunning, you can manually configure your retry settings or let the AI-driven system take over once “Enable Smart Dunning” is selected. 

Interested in Trying Out Smart Dunning?

By using Smart Dunning, you can achieve higher rates of successful payment recovery than traditional models. With so many demands on your time, Smart Dunning can handle your payment recovery to keep significant revenue from slipping through the cracks of passive churn.

Chat with our team today about getting more information on Stay AI’s Smart Dunning tool and our other churn-preventing tools!