Who's using Retention Software? Profitwell Retain/Churnkey/etc

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Ben Francis
Ben Francis Member Posts: 5 Navigator
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In our organization, we're looking to attach early cohort churn from a couple of angles, one of those being the cancelation process.

Have you used a cancelation/retention tool like Profitwell Retain or Churnkey? If so, how did you like it?

For context, our current cancelation flow is an embedded typeform which collects the following data and sends it over to our CS team to reach out to attempt to save before closing down the subscription.

  • Churn reason: didn't understand how to use, pricing, didn't use enough, missing features, technical issues
  • free-form text for additional information about the churn reason - we seldom get actionable data from this field.

As a result, we're looking to automate the cancelation process (in Stripe) as well as implement a coupon-based retention tool to try to save what we can.

Has anyone used such a tool?

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  • Ben Francis
    Ben Francis Member Posts: 5 Navigator
    Name Dropper First Comment
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    Currently, I outreach and offer a call to every cancelation - less than ideal for a scalable solution.

    Our thought is if the account is considering churn anyhow, what could be mitigated via offering a coupon?

    We have 3000+ accounts in our ecosystem so a CSM of one can't get in front of all of them. Much of the churn is early cohort 30/60 days and low MRR.