Put an end to involuntary churn
Dunning is the process of communicating with at-risk customers to bring their accounts current after a failed payment attempt.
All Maxio plans include easy-to-configure dunning management tools that allow you to control credit card retries, email notifications, and account cancellation logic.
ROI varies, but recovered revenue averages over 4 times the Maxio monthly fee for smaller customers, and over 10 times for our larger clients.
Prevent payment failures before they happen
Send end-of-trial emails, especially when customers might need to enter their billing information.
Customize upcoming renweal notices to remind customers that their account is about to renew.
Enable credit card expiration emails to notify customers of upcoming expirations along with a link to easily update their credit card information.
Communicate with past due customers
Don't give up on lost revenue after a payment failure. Configure retry logic to keep trying after failed transactions.
The most important component of a dunning strategy is customer communication when transactions fail and accounts become past due. Maxio lets you customize and schedule multiple emails to re-engage with these accounts and reel them back in.
Manage the cancellation process
Event with a robust dunning strategy, some customers will not respond. Define how many days after the account is "past due" that cancellation will occur.
Customize the cancellation email to communicate what action has been taken and what features will be unavailable. Choose to offer incentive if they change their mind, and include information on how to reactivate their account.
Monitor past due accounting reporting
Maxio's reporting allows your team to monitor and export subscriptions that have entered into the dunning process. This is helpful to identify at-risk account, so your sales or customer success team can re-engage with these accounts above and beyond system communication.