Find Peace of Mind with Gravy.
• Our Reporting Data Matches Your Subscription CRM
• We Believe a Human Approach is More Effective
• Our Flat Fee Pricing Protects You From Market Shifts
Why a Human Centered Approach? Let's Dive In.
First, we should say we have a ton of admiration for the people at Profitwell. They do a great service for the subscription economy through their Metrics, Recognized™, and Price Intelligently tools. And we don’t compete with them there - they got that on lock. However, as companies, we differ fundamentally on the approach of limiting Involuntary Churn and saving failed payment customers for recurring revenue models.
We are a people-powered company, where we rely on our well-practiced methods and adaptability to customize customer retention approaches in ways that algorithmic and automated means simply cannot.
This is where we know we offer a superior option.
1. Our Reporting Data Matches Your Subscription CRM
2. We Believe a Human Approach is More Effective
3. Flat Fee Pricing Protects You From Market Shifts
Want to know more? (Shshhh. It's a secret... just kidding! )
1. Our Reporting Data Matches Your Subscription CRM
One important distinction to make between Gravy and Retain is we access your subscriber CRM data directly - no API calls or integrations. This means that we access and utilize your subscriber CRM data and don’t rely on data passing from one platform to another - eliminating sync errors or recording mismatches between the two. Many clients Trust and Don’t Verify their third party failed payment software - trusting the data they get from their provider without looking closely at the CRM data to ensure they match. We’ve found this means third party softwares - such as Retain - can and do attribute failed payments and data incorrectly.
How do we know it’s wrong? It doesn’t match your CRM data.
Your CRM data is the data that’s linked to your payment processor, and hence the data that’s going to hit your bank account.
Here is one such example from a client who’s Retain® account we audited against their Stripe CRM data.
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Notice that none of these 4 numbers match when they should. The Stripe CRM recorded 1,505 failed payments over the same timeframe Retain recorded 1,228. That’s a delta of 277 failed payments, or 18%. On the saved side, Stripe recorded 674 payment saves in their CRM while Retain™ recorded 642.
How does this match up in terms of the revenue returned to the client?👇
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This is where the data starts to affect your bottom line.
• Stripe CRM recorded a failed payment amount of $35,408.44 and a saved amount of $13,285.91.
• Retain recorded a failed payment amount of $28,123.26 and a saved amount of $15,068.25.
Remember, the Stripe data is the data that hits your bank account. Retain does not.
So Retain over-reported saved payments by $1,782.34 in revenue saved and over-reported recovery rate by 16% in this example. This can be due to a number of possibilities or mismatches within the platform integration to the CRM. Regardless, it’s a report that doesn’t match your bank statement - which is the only source of truth you as a business have.
Gravy does not utilize a 3rd party integration to verify your failed payments or recover your failed payment customers. We loop directly into your CRM - be that Stripe, Infusionsoft, Ontraport, SamCart, or any other - and work from the source of truth, which is your subscriber CRM data. And, our reporting matches your subscriber CRM too, so you will never have to worry about a mismatch or misrepresentation of your data. We use a robust, people-led, and detailed-oriented process so you can trust the reporting you get and verify it against your bank statement.
Retain's Payment Recovery Data often does not match the financial data from your payment processor. This means the Revenue Recovery data of Retain does not match the money hitting your bank account. Gravy works within your payment processor and subscription CRM - so our Revenue Recovery data matches your bank data.
2. We Believe a Human Approach is More Effective
Our biggest differentiator from any dunning or churn reduction solution is how we use people in every step of the payment recovery process. This means from implementation to getting back your customers, Gravy does it with people, and does not rely on technology. We feel - strongly - that people connect with people and not logos, so when you’re trying to get a churned customer back on board, leading with people is more effective. While not skeptical of technology (far from it), we believe a human approach is more effective for involuntary churn recovery.
This approach allows us to use outreach centered around warmth, empathy, and problem-solving, which don’t translate in an automated communication sequence. Our process embeds our people within your company and acts as an extension of your team.
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We use your email domain, utilize a real person to send communication, use proven recovery techniques on a 1:1 level, and keep robust data records of our outreach efforts to optimize your failed payment recovery and customer retention. These records inform our people-powered efforts. When your customers know they’re being reached out to by a person in an empathetic manner, they are not only more willing to come back online, but they also further their affinity for your brand.
This also means we can be flexible in ways that Retain cannot - offering incentives, discounts, down-sells, or even parting gifts to churning customers to help bring them back now or in the future - all while elevating your brand. That is an outcome we take real pride in - protecting and elevating your relationships with your customers.
Which is why we call what we do Relational Revenue.
Putting People at the forefront of the our Failed Payment Recovery process gives us a flexibility, humanity, and conversational quality Retain simply cannot match. This means Gravy can put a human face on your company 100% of the time when dealing 1:1 with your customers at a critical point for your business.
3. Flat Fee Pricing Protects You From Market Shifts
Our other main difference in our service versus Retain is we don’t want to penalize you for your success. Here’s how this scenario plays out in ways that makes payment planning difficult for a client.
Say your business experiences a large jump in subscribers due to a public relations boost, a new growth channel, or an external reason beyond your control (say, a pandemic). Even with the jump in subscribers, the percentage of involuntary churn stays the same:
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If you were paying a 40% commission to Retain based on your agreement where you kept a baseline percentage then paid Retain after, that would mean your company would be penalized on cost per month to Retain for any growth you realize:
This can make month to month planning of expenses difficult to do, make pricing your customer retention solution unnecessarily complex, and likely make it more cost effective for you as a company to utilize an in-house solution.
The goal of Gravy with a flat fee pricing model is to ensure our pricing is cost effective and not punitive based on your growth.
Our goal is to ensure you have month to month predictability and peace of mind over your customer retention service costs month to month, so you’ll pay an expected amount, recover a reliably high percentage, and put more revenue capital towards growing your business.
Our Pricing Model is made to give you Freedom to Grow, not be an anchor on your success. With Gravy, you get a reliable and proven percentage of Failed Payment Recovery at a price you can plan for that will prove ROI. Retain will charge you more the more successful they are, and make it less profitable to recover customer that churned involuntarily.
Ready For Peace of Mind? Talk to a Gravy Team Member -->
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