As subscription businesses, giving customers the flexibility to suspend and later renew their subscriptions is always a good strategy. In fact, we've seen that companies offering the option to suspend and resume have an average churn rate of 25%, as compared to 30% churn rate for those that do not. That means saving one in six would-be customer churns! And in the new reality of COVID-19, this strategy is more important than ever. If your company doesn't offer the flexibility to pause a subscription yet, this is a good chance to help your customers and keep them!
On Wednesday, April 1st, Zuora hosted the first topic in our series of webcasts and open office hours on strategies and tactics for scaling customer engagement during the COVID-19:
How to Suspend or Pause Subscriptions, but Keep Your Customers
Over 200 customers joined experts from our customer success, global implementation, and Subscribed Institute strategy teams to demo best practices, answer questions, and facilitate peer-to-peer discussions. Attendees got the opportunity to:
- Learn how to immediately take advantage of this capability in Zuora
- Hear from subscription experts why this helps build customer relationships in the long run
- Connect with peer subscription companies who are facing the same challenge and learn how they are addressing it
We started with a 30-minute general session presentation on the subject, and then broke out into smaller "rooms" for further discussion and Q&A.
Here you'll find:
- The slides that were presented in the general session
- The recording of the general session
- A written Q&A doc on the topic, summarizing questions that were asked and answered during and following the session (in comment below)
Thank you to those who took part, and we hope this was a useful topic and format for you. Please let us know any feedback.
Stay safe and well!