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Not so humble brag: We've now recovered over $250M in churn (billions in LTV) for our #DTC and #SaaS customers.
Cool announcement: We just launched SMS churn recovery as part of the ProfitWell Retain suite.
Here's more about credit cards + SMS than you ever wanted to know
Cool announcement: We just launched SMS churn recovery as part of the ProfitWell Retain suite.
Here's more about credit cards + SMS than you ever wanted to know
As @ahhensel, @benparr, @thealiciathomas, and brother from another mother @davegerhardt have all talked about texting is one of the most underutilized channels.
As Adobe data shows. SMS has:
- 98% open rates
- 90% opens within the first 3 seconds.
2/
As Adobe data shows. SMS has:
- 98% open rates
- 90% opens within the first 3 seconds.
2/
How does SMS get us to the next $250M in churn recovery?
Well, Retain targets the 20-40% of your churn that's purely mechanical, chiefly through recovering failed payments.
There are 130+ different reasons why a credit card would fail. We handle all of them.
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Well, Retain targets the 20-40% of your churn that's purely mechanical, chiefly through recovering failed payments.
There are 130+ different reasons why a credit card would fail. We handle all of them.
3/
Your recovery rate on these folks is pretty weak right now - if 10 customers have their credit card fail, you're getting less than 3 of them back.
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What's Retain do?
We study billions of transactions that flow through ProfitWell monthly (20k+ companies and counting) and through that data automatically trigger the
Right *message* through the right *channel* at the right *time*.
SMS is a new arrow in Retain's quiver. 4/
We study billions of transactions that flow through ProfitWell monthly (20k+ companies and counting) and through that data automatically trigger the
Right *message* through the right *channel* at the right *time*.
SMS is a new arrow in Retain's quiver. 4/
We've already seen absolute recovery rate increases from 5-20%, which when you're talking about recovering churn, is pretty insane. 5/
If you want to get hooked up or just get a demo of what Retain looks like, feel free to email me at patrick(@)profitwell(dot)com or check out profitwell(.)com/sms.
Here's a fire ad our media team put together that I'm particularly proud of. :) 6/
Here's a fire ad our media team put together that I'm particularly proud of. :) 6/
Oh and if you've gotten value from our content and research in the past, I'd really appreciate a retweet of this thread.
More research and content coming tomorrow. :) /fin
More research and content coming tomorrow. :) /fin
