With FastSpring’s comprehensive software ecommerce platform, your subscriber accounts can be managed quickly and easily. You’ll spend less time chasing down your money and more time making it.
If you’re a SaaS company or sell digital products online using a subscription model, you know that resolving past due accounts can cost both time and money. Now, you can easily take control of delinquent accounts – and use the power of dunning management to reduce your customer churn.
Dunning* is a simple, yet cost-effective process of automatically sending reminder notifications to your customers about past due accounts (aka dunning letters). It improves your business’s efficiency by helping you mitigate the time and resources lost from manually checking up on those delinquent accounts.
When recurring payments fail, you can waste hours following up with delinquent clients by email or phone. FastSpring’s platform dunning management system gives you the ability to automatically follow up with your customers when their subscription payment fails.
With FastSpring’s platform easily configured dunning management system, flexible reminder notifications can be set at two, five, seven, 14, and 21 days after their credit card fails.
Usually, publishers will set up a three part series of notifications:
Other combinations are possible too. You can easily customize the sequencing and wording of your reminder notifications, as well as select formatting in HTML or plain text, as you prefer.
FastSpring’s award-winning customer support team will work with you to get you successfully set up and ready to start sending out automatic reminder notifications. We’re always happy to help.
Dunning management doesn’t just work for delinquent accounts. It’s also a great way to remind current clients that their credit cards are expiring soon. Your customers will appreciate these proactive reminders (no pause in service) and it’s great for you (no loss of revenue).
FastSpring’s dunning management process allows you to do your customers a service by sending pre-billing notifications for annual and biannual subscriptions as they approach renewal.
If you offer a trial subscription that automatically switches to a paid subscription, FastSpring’s platform will send a notice prior to the switch as a friendly reminder. No loss of service means reduced customer churn. And that means more money in your pocket.
Such reminders separate trustworthy businesses from those that try to lock customers in to a renewal without notifying them. Establishing trust from day one means creating long-term relationships with customers, and benefitting from increased LTV (lifetime-value) and low customer churn – especially important for subscription-based businesses.
Does your company have customers in other countries that speak a language other than English? You can customize your dunning notification emails to display in other languages.
FastSpring’s Geo-location service detects customer location via IP address and serves language and pricing accordingly (currently 24 languages and 15 currencies). Building on this core functionality, you can then set up translated dunning notifications by using FastSpring’s platform“Phrases” and “Template Code Logic” functionality.
Selling your subscription-based software through FastSpring immediately opens up a global audience for you. Your customers will see your order page in their own language and be able to pay in their own currency.
If you’re selling software with recurring billing, SaaS, members-only digital content, even software on an installment plan, then the power of an optimized dunning management system can’t be overstated. You have enough on your plate running your business without having to worry about following up on failed credit cards.
Inbox FriendlyFastSpring’s emails are also Inbox-friendly. To ensure the highest delivery rate, FastSpring’s platform uses Amazon SES, a highly scalable bulk and transactional email-sending service for businesses and developers.
Our team has years of experience helping companies like yours – and we’re ready to help you today. Let FastSpring’s dunning management and related subscription management features do the work for you. Sign up for your free account and get started.