SamCart's Subscription Saver works around the clock to protect your recurring sales!
Do you sell subscriptions with your SamCart account? Monthly, yearly, or anything in between.
What about limited recurring payments? Stuff like, “3 payments of $100”, or “$50 today, then $25 each month”?
What happens when one of your subscriptions has a charge that gets declined? What if the credit card was cancelled? Or the card passed its expiration date?
Usually, once a charge is declined, that subscription income is gone in a puff of smoke, never to be heard from again, and you are left with the painful truth that your hard-earned recurring income is shrinking month after month.
Introducing: Subscription Saver
With Subscription Saver by SamCart, your subscriptions are being protected from declined payments and expiring credit cards around the clock. This process is commonly referred to as "Dunning".
Your New Automated Sales Team
When any subscription payment fails, SamCart automatically sends emails to your customer on your behalf.
These emails include a secure link where your customer can update the payment info they have on file, right from their inbox!
When SamCart makes another attempt to recover the late payment, it uses the newest payment information, and your subscription gets saved! No lost recurring revenue, no time spent clumsily chasing down your customers.
Subscription Saver is already live in your SamCart account, already working for you to keep your recurring income.
The Equation That Saves You Money
Subscription Saver works around the clock to maximize the recurring revenue you keep for your business. It is designed to follow the proven schedule for capturing the highest number of declined charges.
Any failed subscription charge serves as "Day #1", and automatically triggers this schedule until a payment is charged successfully, or all four attempts have failed.
Here is the exact schedule:
- Day 1: Charge Attempt #1
- Day 3: Charge Attempt #2
- Day 5: Charge Attempt #3
- Day 7: Charge Attempt #4
Each time a charge attempt fails, your customer receives a new email notification asking them to update their payment information.
If the customer successfully updates their card, they will be re-billed on the next scheduled charge attempt and their Billing Date will not be altered.
If a subscription goes through all four attempts and the payment still cannot be recovered, the subscription will then change to a Delinquent subscription status.
NOTE: Once a subscription has gone delinquent, the customer will no longer be able to update their card information. Their subscription will need to be silent cancelled and restarted in order to get them back on track.
This schedule gives you the best chance possible to successfully charge the card and keep that subscription active.
The stats are clear: SamCart’s Subscription Saver is saving SamCart users huge chunks of money and protecting their recurring subscription income. At our last check, Subscription Saver had recovered $791,873.00 in recurring income in the last 6 months!
NOTE: This schedule can be affected by any custom settings you choose inside of Stripe's Recurring Billing Settings. If you choose to alter your settings in Stripe, your Subscription Saver schedule will be altered.
Subscription Saver Reports
Whether you have 10 or 10,000 active subscriptions, SamCart is carefully guarding each and every customer from failing. Check on your numbers using the reports on the Subscription Saver App. These reports show you everything that is going on behind the scenes.
To view your Subscription Saver reports and see what Subscription Saver is doing for you, follow these quick instructions.
- Log into your SamCart account
- Click on the Tools tab, and select Subscription Saver
This new dashboard will give you a great look at the status of your current subscriptions. Use this report to get quick stats:
- Total revenue recovered by Subscription Saver
- Number of subscriptions In Recovery
- Number of Delinquent subscriptions
- Sends, opens, clicks, and recovered subscriptions from each of the four Dunning emails sent by Subscription Saver
In Recovery refers to any subscription that is currently in the Subscription Saver process. A scheduled payment has failed, and there are still attempts remaining in their recovery schedule.
Delinquent refers to any subscription that has gone through the Subscription Saver process and has still not successfully charged their payment. Once a subscription goes delinquent, the subscription is cancelled. However, you can still find delinquent subscriptions in the Dunning Report, so you have the opportunity to reach out to these customers manually if you'd like.
You also have a Live Stream to see Subscription Saver in action. The Live Stream logs an event any time...
- A recovery email is sent to a customer
- A customer updates their payment information on file
- A charge is successful, and the subscription recovered
In Recovery & Delinquent Tables
Click over to the Reports tab, and you will see two tables: In Recovery and Delinquent.
This table lists all subscriptions that are currently in the Subscription Saver process we talked about above.
You will see the customer's name, subscription ID number, product, next billing date, and what step of the Subscription Saver process they are on.
This table lists all subscriptions that have finished the Subscription Saver process, but were never recovered. The customer never updated their payment information, and every attempt to recover the payment failed.
This table lists the customer's name, subscription ID number, product, product price, and last attempted billing date.
Export Your Subscriptions
Like all of your reports, you can export these subscriptions by clicking on the Export To CSV button at the bottom-right of either table.
In the pop-up window, enter a File Name and choose an Email Address to receive the export.
Whenever you're ready, click Export. SamCart will process the export into a CSV file, and send an email to the address you chose when the file is ready to download.
Open your export and have all the data you need right at your fingertips.
Use this raw data however you need - reach out to delinquent customers directly, upload In Recovery subscriptions to an email autoresponder to get in touch about their payment, find out which subscriptions are causing the most failed payments, and when.
Edit Dunning Emails
You can edit the messages your customers receive when a recurring payment fails to charge. Just click over to the Settings tab under Subscription Saver and select Edit.
You can even send yourself a test to see exactly what your customers will see.