Merchant Accounts or Credit Card processing Information for Small & MIdSize Businesses (Like Mine)> Here's vital info on processing Subscription Revenue Credit Card Processing, Credit Card Merchant Accounts, Third Party Processors, Shopping Cart Software, PCI Compliance, Card Not Present, Fee Structures, et al
Wednesday, June 13, 2018
Recurly sent out a great newsletter and I learned a new term: Dunning.
Dunning stands for Delinquent User Notification. Generally, it refers to sending emails or other communications, on a predetermined schedule, to subscribers when their payment fails.
Different businesses or different subscriber segments will have different responses to dunning, so it's important to constantly test and optimize dunning schedules and email content. In general, subscribers are more likely to respond to dunning emails that are customized to match the brand’s voice. Conveying urgency in each subsequent dunning email and presenting a clear call-to-action are also important for encouraging the subscriber to update their payment method.
To maximize its effectiveness in recovering revenue, the dunning process should function independently from the retry process.