Reduce Churn with Cool-off Period in Cancellation Offers!
New
We're excited to announce a new feature that will empower you to retain more customers and reduce churn: Cool-off Period.
What is Cool-off Period?
Cool-off Period is a new subscription-level setting that allows you to determine when a customer becomes eligible for another cancellation offer after availing the current one. This feature provides greater flexibility in managing customer retention strategies.
Why is it Important?
Previously, if a customer accepted a cancellation offer, they were permanently excluded from receiving future offers on that specific subscription. With Cool-off Period, you can now strategically re-engage these customers once a predefined criteria is met, increasing your chances of retaining them.
How Does it Work?
You can configure the Cool-off Period in four ways:
- Don't Show Cancellation Offer Again: Customers who accept an offer with this setting will not be shown any future cancellation offers for that subscription.
- After Additional Orders Completed: Customers become eligible for another offer after a specified number of additional orders are completed.
- After Additional Revenue Generated: Customers become eligible for another offer after a specified amount of additional revenue is generated.
- After Time Gone: Customers become eligible for another offer after a specified period of time has elapsed.
Benefits of Cool-off Period
- Increased Customer Retention: Re-engage customers who were previously ineligible for offers.
- Improved Churn Prevention: Proactively address potential churn and offer timely incentives.
- Enhanced Customer Experience: Provide personalized and relevant offers at the right time.
🚀 Start Using Cool-off Period today to retain your subscribers!
For any queries or additional information, please reach out to support at support@loopwork.co or your dedicated success manager today!