Resolving Failed Payments for a Successful 2023

Subscription merchants that fail to offer multiple ways for consumers to buy their products will see their sales take a hit, says Bean Box CEO Matthew Berk. Only giving consumers one way to buy and pay is a key driver of voluntary churn, especially in these times. Read the “Subscription Commerce Tracker®,” a collaboration with Vindicia, for more.
Inside the February Tracker
  • Matthew Berk, CEO and co-founder of D2C coffee brand Bean Box, provides an insider’s viewpoint on how inflation will force subscription companies to diversify their business models to retain customers in 2023.
  • It is much easier to convert an existing customer than a new prospect, which is why more brands are turning to subscriptions as they look for ways to navigate a challenging economic climate.
  • Brands cannot afford to lose customers due to failed payments. Investing in customer lifetime value through a strong retention strategy can drive massive revenue gains when prioritized.

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