Stripe, a financial infrastructure platform for businesses, today launched a new churn management guide to help subscription businesses understand and mitigate voluntary and involuntary customer churn.
The company also announced new revenue recovery features, including a new revenue recovery interface, new options for recovery automations, and new revenue recovery analytics.
Churn is a much bigger problem than most realize. Stripe’s research shows that 25% of churn is involuntary, and that a recovered monthly subscription will typically last another seven months. The study also shows that customer acquisition costs have risen 60% in the past five years. This means retaining existing customers is up to 7x more cost effective than acquiring new customers.
Stripe Billing, which helps over 200,000 businesses accept and manage recurring payments globally, is continuously improving its product suite to better help customers address churn. Some of the world’s most notable startups and largest companies are powered by Stripe Billing, like Atlassian, Slack, OpenAI, Notion and The Atlantic.