Using Stunning To Lower Your Churn Rate And Make More Money!

Liam gives the answers . It's as simple as that .

On today's episode , I want to bring up a tool we have been using over the last few months and the name of the tool is Stungin Okay , and I'll put a link to the tool in the show notes so you can check it out if you want . So this basically helps with failed payments . Okay , it's a done in tool to help win back as many failed payments as possible .

Now , failed payments are massive for any subscription box business or any subscription business in general . It doesn't matter if you're running a subscription box , a SaaS company , a membership , whatever a gym .

If you have a subscription , failed payments are going to be a pain for you , and ProfitWell actually estimates that up to 40% of churn is due to failed payments . This is called passive churn .

Active churn is when a customer goes in and cancels themselves , and passive churn is when you just can't charge them anymore , mainly because the card isn't good or they're out of money or the bank has blocked it or something . Stunning helps with this . Now let me give a bit of background about stunning .

So when we launched BusterBox all those years ago BusterBox all those years ago I was obsessed about subscriptions and the subscription business model and I spent a lot of time reading into it and I could see that failed payments could potentially be a problem . So I looked for a solution very early and I came across something called Stunin .

Now , back then Subli worked kind of differently . All subscriptions were hosted in Stripe , but Subli was obviously the platform okay , so Stunin was compatible with Stri , so I just plugged it in and it worked really , really well . We recovered a lot of money because of Stunnin . We got a lot of customers back .

Now I can't remember the exact figures , but it more than paid for itself . Subli changed things up a few years later and they moved the subscription inside of Subli and Stripe was just used to take payments . And they obviously did this because they wanted to improve the platform and to do that and add new features like funnels and stuff .

They had to do it pretty much and that was fair enough .

Stunning would no longer work anymore and I remember at the time I was speaking to Stefan , who obviously is the CEO of Subli Stefan , who obviously is the CEO of Subli and he was open to get Stunning working on Subli as soon as possible , and I went to the owner of Stunning , richard , and they just couldn't find the time to do the development work to bring

Stunning to Subli back then . So we stopped using it for a number of years . But over the last year I reached back out to them . I spoke to Subli . Stunnin had more bandwidth and they managed to do an integration . I think we were the first company that were integrated .

They set it up for us manually but as far as I'm aware , it's now available in the Subli App Store . So we got set up on Stunnin and over the last few months I can give you the results okay , it's recovered €13,326 in December , which is 541 customers . In January it recovered 13,387 euro , which is 558 customers .

Now I don't know how much of this is due to stunning or how much of this is down to Subway . I don't know if those customers would have come back anyway . Okay , it's nearly impossible to figure that out , but what I do know is I keep a record of all of our past due customers throughout the year , of our past due customers throughout the year .

I have an Excel file and I go in pretty regularly , at least once a week or sometimes even more , and I write down how many past due customers we have in Ireland and how many we have in the UK . Now I can see we are down 2% on past due customers compared to this time last year At the exact same date Now .

Is that a coincidence or is it down to stunging ? It's very hard to know , but I can see people are updating their cards pretty regularly through Stunnin' so it's not far-fetched to believe it is having a pretty decent positive impact .

Now I'm going back and forth with Subli and Stunnin' to try and get some more information so we can really see the difference it's making . And when I get that information I'm happy to share it here .

Now , from my previous experience with using Stunin and from what I've seen so far , I am pretty confident that it's having a pretty big positive impact on our failed payments . Now I'm going to explain why Stunin can potentially work really well for your subscription box business . I have their features section open here in front of me now .

They have many different features . I'm not going to go through them all because they're not relevant , but I'm going to pick out a couple which I believe makes it worth it for the majority of subscription box businesses , and the first one is smart retries . This is what they say .

Some failed payments can be collected successfully if you just retry them at the right time . With smart retries , stunging goes beyond Stripe's retries . It intelligently retries your failed payments at times that have the best chance of recovering revenue , based on your customer base and what's best for your particular app .

It does it over a maximum of 21 days for maximum recovery potential . So that's really important . It's not just brute force anymore when it comes to your retries .

They actually have smart retries and they've collected a lot of data over the years , so they claim to know when the best times are to charge particular sets of customers , and that's that's really really important . And the next one , which makes a massive difference is the payment update pages .

Dungan provides secure payment update pages with Apple , pay Pay , with Google and Payment Request API support . You link to them in your Dungan emails so that your users can easily update their payment info without logging in . You can even use them on your own domain .

So this makes such a big difference , and if you've listened to this podcast for any amount of time or I think I even wrote about this in my book as well . Giving your customers the opportunity to update their cards directly from your emails will make a big difference .

If your customers have to log in to your platform , remember their password , go searching for the payment update section put in the card . You're going to lose some of them because people forget passwords , people are lazy , people simply won't do it , even though they may have the best intentions .

If you make it really really easy for them , way more people will update their cards . So with stung in , you literally click the link in the email and a page will pop up and they just put in their card info and it's updated there . And then it's really powerful and you can also log into stung in and send your customers those individual links if you want .

Say , if they're going back and forth with your support staff about something and they mentioned they need to update their card , your support staff can just share that customer's individual link and it makes it really easy for them to update their payment info . Okay now just looking at this and stunning has worked with some pretty big companies .

I I see on their page they've got Microsoft there , they've got Typeform and they've recovered . I believe they have this somewhere on their page . Yeah , they've recovered over 10 billion since 2012 . Now do I think you should use this ? I think you should potentially test this and see if it makes any difference to your failed payments .

Obviously , there is a fee involved . It's a paid software , so it will probably depend on the size of your company and how many failed payments are coming back if it's going to be worth it or not for you , but I definitely think you should consider it now . I'm not endorsed by stung in . I'm not being paid by them .

They don't even know I'm recording this podcast . This is just a tool we have used over the years which has worked quite well for our business . So , yeah , I would recommend giving it a go and seeing if it's going to work for you .

Anything that can bring down your churn is a good investment , because you have to remember as well , when you recover somebody , there's a good chance they are going to make more payments in the future .

So it says it recovered 13,000 euro in revenue . A good proportion of those customers are hopefully going to stick around for longer and they're going to make more payments , so over time , it can actually compound and end up saving you a lot of money and making a big difference to your overall profitability . Now we'll be back next week at the exact same time .

If you have any questions you want answered on the show , head over to SubscriptionBoxResourcescom , join the free Facebook group and post your question there . And oh yeah , subscription box experts is still open , but it won't be open for much longer .

So if you want my help to make 2025 the best year yet in your subscription box business you can actually learn how to scale up and make your business a success . I highly recommend heading over to subscriptionboxexpertscom and join it . That will be closing soon . Thanks very much for listening and chatting next week . Bye .