It is key for any business to get paid on time, but when the payment is not on time, you are faced with the problem of both not having your funds, and needing to exert your time and effort in to manually collecting the payment again.
While 97.5% of payments processed through GoCardless are already successful, it's the 2.5% that are not which hurt your brand, frustrate your customers, and waste your time. Thankfully, the solution has arrived, and it's fully integrated with ClubRight.
How does Success+ secure my payments?
Success+ uses recurring payment intelligence to automatically retry payments on the optimal day based on the customer and their payment history. Success+ helps businesses to efficiently recover, on average, 76% of payments that initially fail. In turn, this delivers a better customer experience, reduces the admin burden of chasing failed payments, and increases your overall revenue.
Every situation is different, so for this to work it’s important to be able to configure the automation - this is why you can choose how many times and how often to retry each payment with Success+.
There’s a great deal of potential in combining automation and configuration with payment intelligence. Say you want to help struggling customers by offering to postpone the due date of installments, without delaying payments from those able to pay, payment intelligence opens the door to making that possible.
Recurring payment intelligence will be the key to an unbeatable combination of low failures and the best customer experience.
ClubRight and Success+
We mentioned earlier that ClubRight offers full integration with Success+, but what does this mean?
- You can be safe in the knowledge that a failed Direct Debit Payment will be intelligently collected 3 times on your behalf without you having to do a thing.
- When a Direct Debit collection fails, Success+ and ClubRight will kick in to automatically retry the failed payment at the right time to get the best chance of collecting your membership fees.
- Each Retry will show as a numbered retry, in the Member's profile page, making tracking of how many times you've attempted to collect payment simple.
- Once the limit of 3 retries have been made it would then, again, be back to you as the business owner to decide the next action your business would like to take, to maintain relationships while collecting your fees.
How do I get active with Success+?
As a GoCardless customer now that this feature has been implemented, every new Membership plan set up will automatically be managed by Success+, in line with the default settings found under Success+ on your GoCardless dashboard.
If you want to ensure that all your memberships created prior to the introduction of Success+ are set up for for automatic retries, you will need to go to your GoCardless Dashboard to set-up your Success+ settings.
From this point, all your ClubRight memberships will be collected making full use of the GoCardless' intelligent recurring payments solution.
There are only 2 reasons a payment via Direct Debit would have failed,
- Insufficient Funds
At the time the payment was requested from the customer's bank account, it did not have sufficient funds in it, therefore the payment failed.
Success+ will then kick-in to start seeking payment automatically.
- Direct Debit Mandate Cancelled
This means that no funds can be collected until a new mandate is setup with your customer.
Now you are all prepared to increase your collection rates with Success+ and ClubRight!