We've got an exciting ProfitWell Retain update—the launch of Retain Localization.
ProfitWell Retain targets credit card failures, which accounts for 20-40% of your lost customers. Yea, it's a lot and you're probably not doing much about it, either. What we do is use the data we're sitting on—billions and billions of credit card transactions per month to tailor algorithms to get these customers back through intelligent, white-labeled emails, SMS messages, programmatic agile retries, and a bunch of other fancy magic we’re happy to get into.
So what's this localization thing? Well, with Retain localization we now automatically translate every single touchpoint with your customer into their preferred language and cultural preference. Some of your customers don't know the language you communicate in or, at the very least, don't prefer it. You also probably don't realize that your Japanese customers are a bit more formal and your Argentinian ones are a bit less formal. You want to communicate with your customers in the way they want to be communicated.
Oh, and it's really good for business too. Translating these messages results in 5-10% higher recovery rates on an absolute basis.
So, Retain's now using its algorithms to make sure we're sending the right message in the right language, through the right channel, at the right time, ensuring your customer gets an ideal experience and you recover their payment information quickly.
The best part? You do zero work. No telling us your customer's language preference, no translating, no setup. We automatically recognize your customer's language and send them messaging in over 25 languages, and counting.
This is never going to be your number one priority and that's ok. Focus on your customer and your product. Let our dedicated retention team who do all the tweaks on a continual basis for you to make your churn our priority. It's passive software by design.
For all of our Retain customers, it's included for free. In fact Retain isfree—you only pay for performance. If we don't beat your current performance, you pay nothing. We only make money when you make a lot more money.
Automatic language translation to boost churn recovery by 5-10%: Customers prefer to communicate in their own language (and sometimes don't know the language you're communicating in). We ensure all churn recovery messaging in ProfitWell Retain is automatically translated to their preferred language, resulting in higher open, click through, and recovery rates. All in recovery rates jump by 5-10% when using Retain Localization.
Takes into account cultural preferences: Not everyone communicates in the same manner. Chinese and Japanese emails in B2B tend to be more formal. Spanish emails in DTC tend to be more informal. We not only translate the language, but ensure cultural preferences are taken into account.
Completely turnkey - you do no work: We automatically recognize your customer's language preference and send them messaging in their language preference.
25+ languages with more added every quarter: We automatically monitor and work with native speakers to ensure all messaging is positioned to get the best open, click through, and recovery rates. We add new languages automatically when they're detected.
So, if you want to try out Retain—now with automatic localization—or just get a demo of what Retain looks like, email me at email@example.com and we'll get you moving, reducing your churn once and for all.
By Patrick Campbell
Founder & CEO of ProfitWell, the software for helping subscription companies with their monetization and retention strategies, as well as providing free turnkey subscription financial metrics for over 20,000 companies. Prior to ProfitWell Patrick led Strategic Initiatives for Boston-based Gemvara and was an Economist at Google and the US Intelligence community.