Dunning & Retry Logic with Core dna
Managing customer payments and ensuring seamless transactions are critical for any business, particularly those that operate on subscription models or provide recurring services. The integration of Dunning and retry logic within Core dna offers marketers an advanced tool to automatically manage failed payment transactions, reduce churn rates, and enhance customer satisfaction.
Understanding Dunning & Retry Logic
Dunning is a strategic process aimed at recovering failed transactions. It typically utilizes automated reminders, attempts to retry payments, and provides resolutions to recovery issues attributed to expired cards, incorrect information, or insufficient funds. Retry logic is a key component of Dunning, involving systematic retries of failed payment attempts based on a predefined schedule and rules.
How Core dna Delivers Dunning & Retry Logic
With Core dna, marketers have the capability to automate the entire Dunning process. Core dna's integrated platform ensures real-time collaboration between sales, billing, and customer relationship management systems, allowing for synchronized efforts in recovering payments.
- Automated reminder emails are generated seamlessly by Core dna, which can be scheduled and customized based on customer profiles.
- Configurable retry schedules allow for flexible attempt strategies—daily retries, alternate-day strategies, or custom schedules.
- Analytics dashboards provide marketers with insights into payment success rates, recovery trends, and more.
Feature Summary
| Feature | Details |
|---|---|
| Automated Email Reminders | Includes customizable templates for different stages of the dunning process |
| Custom Retry Schedules | Flexible scheduling options tailored to your business model |
| Real-time Analytics | In-depth insights into transaction recovery performance |
Practical Use Case
Consider a SaaS company employing a subscription model. Once a customer's payment fails, the Dunning process kicks in, automating communications to the customer to update their payment information. Concurrently, the retry logic within Core dna initiates a strategically scheduled set of retries to process the transaction.
Implementation Example
The SaaS company configures Core dna to send the first reminder email 24 hours after the initial payment failure. Subsequent emails are programmed to go out every three days until a successful transaction occurs. The retry logic is programmed to attempt the payment every 48 hours. In this implementation, Core dna’s dashboard provides the company with real-time insights into how many attempts were successful, which customers updated their information, and the overall improvement in cash flow recovery.