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Very interesting looking at their live stats: https://ghost.baremetrics.com/ https://ghost.baremetrics.com/ I noticed they had 654 failed charges, and over 4,1
by martin-adams 11y ago
Very interesting looking at their live stats:
https://ghost.baremetrics.com/ https://ghost.baremetrics.com/
I noticed they had 654 failed charges, and over 4,133 customers, that's 15.8%. That's around $6,200 of revenue they failed to collect first time each month - basically, a whole person's salary.
- benmanns 11y agoDoes anyone know how that compares to other services?
- deleted 11y ago[deleted]
- aculver 11y agoYeah, so I run http://churnbuster.io/ http://churnbuster.io/ where we help a lot of companies with this exact issue. As a rule of thumb we would typically expect about 10% of initial charge attempts to fail for a B2B business, and it wouldn't be abnormal to see 15-20% for a B2C business. It's a huge problem, and that's even on a best-of-breed payment processor that provides automatic card updating in the background. For anyone interested in digging in deeper on some of the lessons we've learned, I posted a bunch of thoughts on Quora earlier this year: http://qr.ae/RFWy23 http://qr.ae/RFWy23 . Otherwise, feel free to reach out to me directly at andrew@churnbuster.io .
- nikmobi 11y agowhoa. why are we able to see these stats?
- cullenking 11y agoThis is actually a decent first time rebill success rate. With a consumer website we see similar if not a bit worse. Recurring billing with consumers can be tricky - lots of fraud and expired cards leads to declines, which means often times you have to re-sell your value to the customer to get them to update said card. Bigger B2B is a different beast, if you are a core piece of someones business they will not let you expire.