Recharge launches Retain, a suite of tools to support retention throughout subscriber journeys
The Retain suite of tools is built to improve retention via Rewards, Failed Payment Recovery, Cancellation Prevention, and Win Backs
Recharge—the leading subscription platform powering smarter subscription experiences—today announced the general release of Retain, a suite of tools designed to holistically support retention throughout the subscriber lifecycle. Unveiled at Recharge’s annual ChargeX global ecommerce conference, Retain’s offerings include Rewards, Failed Payment Recovery, Cancellation Prevention, and Win Backs.
“At Recharge, we want to help our brands forge long-lasting customer relationships, and retention is a critical piece of that puzzle,” said Oisin O’Connor, Recharge co-founder and CEO. “Retain is our answer to the factors that complicate retention: convoluted customer journeys, incomplete data sets, and ever-evolving subscriber bases. With Retain, we’re empowering our brands to better understand and nurture their customer relationships and ultimately bolster their overall retention strategy.”
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Retain contains four distinct tools, each designed to promote retention at a different phase in the subscriber lifecycle:
- Cancellation Prevention: Stop cancellations in their tracks with personalized offers tailored to help customers choose another path, and strengthen your overall retention strategy with valuable insights on why customers cancel.
- Rewards: Create loyalty throughout the subscriber lifecycle with tailored incentives to get customers to their next order, time and time again.
- Failed Payment Recovery: Recapture lost revenue and prevent passive churn with automated, AI- and machine learning-informed smart retry technology.
- Win Backs: Incentivize lost customers to place another order with compelling offers showcased on personalized landing pages, and optimize the experience by experimenting and tracking performance with our analytics.
Retain will equip brands to build a more loyal, long-term customer base, which drives higher revenue and customer lifetime value with tools that help proactively nurture customer relationships and address reasons customers may cancel. Retain will work seamlessly with the products and tools in Recharge’s platform, including its core subscription management offering, product bundling tools, and more.
Earlier this year, Recharge announced it surpassed $100 million in annual recurring revenue (ARR) and that it has powered subscriptions for 100 million subscribers across more than 20,000 brands.
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