ProfitWell Retain from Price Intelligently

Delinquent churn reduction for Zuora, Braintree, and Stripe

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Reviews

 
  • Jarratt IstedCofounder, HelpDocs
    Pros: 

    Mega easy to use and so much better than keeping an eye on failed charges & manually sending out emails 👀

    Cons: 

    Being able to customize the emails would be a big plus, but the stock ones are awesome enough.

    ProfitWell retain is a fantastic piece of kit for any SaaS business.

    Being able to automagically send out emails for failed charges saves us a ton of time, and our customers have been impressed with how easy it is to add a new credit card.

    Failed charges are surprisingly common and many happen without the card owners knowing about it. This just makes the whole process a lot easier. ✨

Discussion

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Hiten ShahHunterPro@hnshah · Crazy Egg, Quick Sprout & Draftsend
I've had the chance to use ProfitWell Retain with a company I'm advising, and they've taken our delinquent churn recovery rate from ~10% to 50%. In my opinion this dramatic difference is due to the fact that this team *gets* SaaS and runs all of the optimizations for us, so we can just watch our revenue grow. Plus, analyzing the data they're sitting on probably helps too ;)
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
@hnshah thanks for posting Hiten, and happy to see you're noticing the difference in recovery rate. :)
Hiten ShahHunterPro@hnshah · Crazy Egg, Quick Sprout & Draftsend
@patticus game changer. Your product's retention will be high, especially because you actually just install it and in days it makes you more money. What business doesn't want more money with just a few clicks?!
Kumar Thangudu@datarade · Technologist
@hnshah Yep, I've been a fan of profitwell.com from day one! :)
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
@datarade Kumar - you've definitely been Mr. ProfitWell for a while. :)
Kumar Thangudu@datarade · Technologist
@patticus to make it worth like 100x more, you should integrate Plaid API and let me see my company expenditure vs. my MRR. NOBODY in the space does this.
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
Patrick here, CEO of Price Intelligently - the makers of ProfitWell Retain. Pumped to answer any/all questions, but here are some details on how we're able to get that high of a recovery rate: 1. **Pre and post dunning:** Retain targets customers through the entire involuntary churn cycle, reaching out to customers who are on the verge of expiring before they go delinquent and after failures occur. 2. **Emails and In-app notifications:** Emails target customers right in their inbox and in-app notifications target customers right in their workflow to eliminate as much friction as possible to updating their credit card information. 3. **White labeled landing pages and forms that don’t require a user to login to update their credit card:** You don’t spend much time on your billing settings page or your credit card forms, so we don’t want to send your customers to them. Instead we’ve created gorgeous landing pages and forms that don’t require your customers to login and send the data right to your billing system. Best part is they’re completely white labeled. 4. **Constant optimization and complete management:** We do all the work leveraging the millions of data points we’re sitting on, running multivariate tests and utilizing machine learning to mine your data for key findings. Through constant optimization and our algorithms, your recovery rate continually improves, because we treat your delinquent customers as their own marketing channel.
Yam Regev@yam_regev · Co-Founder, CEO & CMO
No wonder that Patrick and his team came up with this product. These guys have one of the best blogs in the SaaS-sphere. Sometimes we laugh and say that we are thinking that Patrick is hearing all our board meetings and a day after is coming up with an article that might solve many problems that we discussed in the meeting itself ;-)
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
@yamre Ha! Thanks for the kind words. Hopefully you realize now that we make product, too. :) If there's anything you think we should research or write about, let us know. We're always digging.
Chris Gadek@dappermarketer · Head of Growth Marketing, Eden
The team at Price Intelligently (and their ProfitWell dashboard product) is in a league of its own. ProfitWell is the first and most important dashboard I log into everyday - I use it to get a pulse on our retention metrics and subscription revenue. Retention usually takes a backseat to acquisition for products developed for the SaaS market and it's refreshing to see a company focusing on the important stuff. Super excited to see their Retain offering on PH - to echo Hiten's sentiment, the folks at PriceIntelligently know how to deliver additional value to SaaS businesses. This product sounds like a no-brainer for your business if you: a) have a subscription-based business b) utilize one of the payments integrations ProfitWell supports c) find yourself losing customers for reasons unrelated to your service offering (expired cc's, etc...) d) don't hate free money Question(s) about Retain for the PriceIntelligently team: Is it safe to assume that Retain updates your payments backend when customers use the service to update their payment details?
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
@dappermarketer woah. Thanks so much for the kind words, sir. Super humbled. Good question. Your assumption is correct. If someone uses our forms (either in app or via email) to update their information, the data gets updated in Braintree, Zuora, or Stripe. We actually don't touch the data at all - ports right into the billing system, so they can continue to handle all of the security, privacy, etc. We're starting to add some cool functionality that not only updates the CC information, but also the plan (with our customer's approval, of course). For instance, the only time you're likely asking your customers to upgrade to annual is when they sign up. If we're already recovering them, we should probably also ask them to upgrade to annual, so we ask them right in the form. This helps boost overall retention along with recovery rate. There's even more coming soon, too. :)
Sujan Patel@sujanpatel · Co-Founder of Mailshake
I've been using Profit Well Retain for the past 6 months for Narrow.io and they've reduced our churn quite significantly (~30-35%).
Patrick CampbellMakerPro@patticus · CEO, ProfitWell
@sujanpatel Thanks for the kind words, Sujan. We're ranking and going to bring that number down even further. :)