Big news this week out of ChargeX, Recharge’s global ecommerce conference: Recharge has unveiled Retain, a new suite of products designed to help brands hold on to customers longer.
When customer acquisition is increasingly costly and difficult, Retain provides brands with new ways to satisfy subscribers, enhance their offerings, and nurture longer-term customer relationships.
Retain is available as an add-on to Recharge Pro & Custom plans.
A complete customer retention suite
Retain is a collection of products that work together to keep customers coming back at each stage of their subscription journeys—and, when they choose not to, to gather data on why and inform business decisions upstream.
Incentivize repeat purchases with Rewards
Our loyalty program builder incentivizes customers to purchase more and stick around longer with rewards like credits, free gifts, and progressive discounts, all customizable to your business.
Its benefits can also be integrated throughout the subscriber experience: display rewards previews on PDPs to turn one-time purchasers into long-time subscribers, or highlight unused rewards in the cancellation flow to incentivize retention.
Save subscriptions with Cancellation Prevention
This active churn reduction tool offers customers personalized alternatives to cancellation based on their reasons for canceling. Along the way, it also collects critical data on cancellation reasons, providing intel on which aspects of the customer experience to focus on.
End passive churn with Failed Payment Recovery
Powered by AI and machine learning, this automated passive churn eliminator detects failed payments, diagnoses issues, and proactively contacts customers for resolutions to keep subscription orders incoming.
Re-engage lapsed subscribers with Win Backs (coming soon)
When customers eventually end their subscriptions, Win Backs makes it easy (and compelling) for them to jump back in by presenting personalized offers on landing pages that you can customize to feature cross-sell carousels, subscription perks, and more
Built for an evolving marketplace
When acquisition slows…
Retain is designed to address some of the most acute pain points subscription brands face today. First, customer acquisition costs are daunting—it currently costs about 5 times to acquire a new customer as it does to retain one.
The marketplace is also increasingly crowded. Customers seemingly have more options all the time, and without a clear reason to return to any one brand, they’re more likely to try out a competitor’s products.
…retention is key
In such a fluid environment, even small improvements can translate to huge advantages: boosting retention by just 5% can improve revenue by over 25%.
Retain provides brands with ways to enhance retention at every point of the customer lifecycle, making it easier than ever to find that 5%. This holistic retention approach has the potential to make a big impact on customer lifetime value.
