Gravy Payment Failure Recovery and Customer Retention Strategies 2019

Review
Summary
  • Review
  • Summary

9

Features

9

Support

8

Business

9

User-Friendly

9

Customization

9

Ease-Of-Use

9

Reliable

Pros

  • Online courses
  • Box companies
  • SaaS and start-ups
  • Health and fitness
  • Subscription Boxes
  • Sync Your Data and Systems with Gravy
  • Meet Your Virtual Retention Specialist
  • Start Recovering Your Failed Payments

Cons

  • Limitations in the starter plans

Using online platforms for making payments are very convenient, easy and super neat. They allow you to simply follow some steps, enter the credentials, enter a high-security password to secure your payments details and you are done, yeah! But a single payment failure makes you question the whole system and create a feeling of panic.

After one such incident each time you click the “pay now” button you anxiously wait for a success payment notification from the merchant and the bank. Only after this entire process, your anxiety subsides.

WHY THIS ‘PAYMENT FAILURE’ BOTHER US? You will learn today How to Recover Failed Credit Card Payments and Increase Customer Lifetime Value With Gravy Solutions

  • Firstly, it bothers you because here your real money is involved and anything happening with money is bound to make you worry and can’t be taken lightly. This is a natural response to any activity involving loss of money.
  • Secondly, there is no instant gratification such as in real life shops where things are easy, you shop, pay for the item and receive that immediately. But with an online transaction, you have to wait to receive payment notification via E-mail or SMS and then wait for the item to arrive. We tend to worry if all this process takes some time.
  • Thirdly, there is a trust factor which also plays a major role here. In this era of the internet where good content and bad content are present equally, trusting a platform for transactions has become seemingly difficult.

In this post, we have featured Gravy Review 2019 that includes detailed insights of its pricing, features, functionality and more. So let’s get started here.

Gravy ( Now Gravy Solutions) Review 2019: Is It Worth Your Money?? (READ TRUTH) How to Recover Failed Credit Card Payments and Increase Customer Lifetime Value With Gravy Solutions

Payment Gateway Failure Recovery With Gravy Solutions 2019

Gravy is powered by a team of people who are passionate about helping business owners succeed and dedicated to solving the biggest inefficiencies in their business. People at gravy help entrepreneurs and CEO’s solve the problem of failed payments and credit card declines in their business. This one problem alone can cost small business billions of dollars nationwide each year.

Gravy features & detail talking points

Based on data provided by credit card companies, 10-12% of ALL credit card payments fail. There are more than 100 different ways for credit card payments to decline, which means small businesses need a strategy and fresh approach to address the failed payment problem.

  • Gravy strengthens small businesses by returning failed payments, increasing revenue, and freeing up business owners to do what they love.
  • Gravy clients on average recover 70% more failed revenue with our 60-day system than with their previous approach.
  • Gravy utilizes a full-time team of Retention Specialists.
  • Gravy is 3x more profitable than dunning software.
  • Gravy recovers payments and customers.
  • Gravy has recovered more than $15 million in single-saved transactions over the past 20 months.
  • Gravy frees up your team to grow your business.
  • Gravy operates with complete transparency.
  • Gravy staff and Retention Specialists are 100% US-based.
  • Gravy represents your brand with the highest levels of customer care.
  • Gravy provides clients with bi-weekly reporting.

AllGravy Coupon Code-AllGravy

 

They are passionate about entrepreneurship and they want to help as many business leaders they possibly can build a healthy, thriving business that will continue to serve people, solve challenging problems, and provide jobs for years and years to come.

WHY GRAVY STARTED? Learn How you can Recover Failed Credit Card Payments and Increase Customer Lifetime Value With Gravy Solutions

  • They believe in the human touch as a way to make better customer relationships.
  • The mission is to create an affordable yet efficient way for a business to engage and manage failed payment bringing back the human element back to the cold world of automated and digital communication.

AllGravy Review With Discount Coupon- Customer Retention and Failed Payment Recovery

  • It’s an obvious reason that engaging failed payments quickly, following up in person appointments will dramatically increase your conversion rates with the same leads you’re already generating.
  • When a payment fails, Gravy makes sure you’re the first agent they hear from. They make you look professional, attentive, and ready to assist all for a fraction of the cost of hiring a full-time team member and with much better results.

THE ENGAGEMENT TEAM:-

The Gravy team works very hard to create a proactive and professional relationship with their clients while producing good results. Each client at Gravy has three U.S. based team members ensuring optimal results, a high-quality customer service experience and accurate visibility of failed payment recovery.

THE THREE CORE TEAM MEMBERS ARE:-

  • RELATIONSHIP MANAGER-

A relationship manager works alongside you to create a recovery strategy that represents your brand while producing the required results. They manage the Gravy team and recovery process, so you don’t have to worry about anything while they have given the responsibility.

  • PAYMENT SAVER- Gravy Discount Coupon Code September 2019

The dedicated payment saver is a highly administrative, process driven person that will work directly with the client’s team and their customers.

  • DATA ANALYST-

Accuracy is one of our key values, so we have one team member dedicated to analyzing and reporting the data around your payment failure and recovery. The high level of visibility gives their client an insight to keep growing.

HOW DOES IT WORK:-How to Recover Failed Credit Card Payments and Increase Customer Lifetime Value With Gravy Solutions

Gravy  makes it easy for the business to engage customers and recover past due payments from any CRM or payment processor.

This team has spent countless hours developing the perfect formula to reduce client’s time spent on the reactive activity and maximize their focus on business growth activity.

STEP BY STEP PROCESS OF WORKING:-

  • STEP 1- THEY INTEGRATE INTO YOUR PAYMENT PROCESSORS AND CRM’S

Gravy works with all payment processors, CRM’s and product delivery systems. All the failed payments seamlessly integrate into our system as they occur.

  • STEP 2- THEY ENGAGE EACH CUSTOMER QUICKLY AND PERSONALLY

Using proven scripts and their 100% human response team, every customer is contacted immediately. We generate all the right activity to ensure your payment is recovered quickly.

  • STEP 3- CLIENT RECEIVE THE PAYMENT AND INCREASE THEIR CUSTOMER LIFETIME VALUE

Once they have a successful payment, we ensure the customer account is updated and product delivery or access is restored now and for future payments.

  • STEP 4- CLIENT HAVE VISIBILITY OF THEIR FAILED AND RECOVERED PAYMENTS

A client receives regular reports to provide insights into their failure and recovery rates, product details and suggestions to keep revenue and increase customer lifetime value.

While talking about all the interesting features Gravy has to offer to its clients, it also has an interesting customer referral program with the tagline ‘YOU PASS THE GRAVY AND WE WILL PASS THE DOUGH’

HOW THE REFERRAL PROGRAM WORKS-

  • STEP 1- SIGN UP FOR YOUR PERSONAL REFERRAL ACCOUNT

Click the button at the top or bottom of the website’s page to opt-in to GRAVY’s customer referral program and start earning rewards.

  • STEP 2- SHARE YOUR OWN REFERRAL LINK OR ADD LEAD YOURSELF

As a member of the referral program, you will get your own referral link to share via email, social or text. You can also upload qualified leads manually in your account.

  • STEP 3- TRACK REFERRED LEADS ON YOUR PERSONAL DASHBOARD

Once you submit a qualified lead or someone books an intro call via your referral link, you can track their progress in our sales funnel for your rewards payout.

  • STEP 4- GET PAID WHEN REFERRED LEADS BECOME CUSTOMERS

Earn $100 for every qualified lead that you refer to the gravy and $500 for every lead that becomes a customer from your unique link. Rewards are paid via PayPal.

For knowing more about it do check out https://lp.allgravy.io/referral

Kind of companies they are looking for are:-

  • Online courses
  • Box companies
  • saaS and start-ups
  • health and fitness

THERE COULD BE TWO CASES WHEN A PAYMENT FAILS:-

  • Your amount is not debited– you will see the payment failure screen on your merchant’s site and you might receive a message from your bank that the payment could not be processed.
  • Your amount is debited- In this case the amount may have been deducted from your bank account but it is not received by the merchant. You will be left wondering what happened and why didn’t you receive any kind of notification.

HERE ARE SOME REASONS FOR PAYMENT FAILURE AND WHY YOU SHOULD NOT WORRY ABOUT YOUR MONEY:-

  1. BAD INTERNET CONNECTION- A stable internet connection is absolutely necessary for a transaction to go through successfully. If the internet speed fluctuates heavily then it could affect the transaction. Also, closing the tab or window will result in failed payment or incomplete payment.
  2. AUTHORIZATION FAILURE- This is the case where a payment platform could not connect with the bank. Such cases do happen frequently since banks at times do not authorize these payments and hence you will see a failure. This goes beyond the control of the payments platform. If your money is deducted you can check with the bank and the platform.

Churn Rate- AllGravy Review

  1. AUTHENTICATION FAILURE- Authentication failure results when wrong credentials(such as Account no., CVV, card holder’s name etc.) are entered. Or sometimes the OTP cannot be verified or 3D secure password was not entered correctly. In such cases, you receive a message from the bank that the payment could not be processed, and it is advised to try another transaction after a few minutes. Usually, money is not deducted.
  2. DELAYED NOTIFICATION- Whenever a person makes a transaction, he/she receives notifications from the bank as well as from the merchant. A buyer should receive an email about the success of payment. But there could be times when emails are not delivered and SMSs don’t reach buyers. There could be several reasons why these notifications are delayed. You can wait for a few hours and if you do not receive any acknowledgment then contact the seller or the payment platform.
  3. PAYMENT GATEWAY FAILURE- This happens occasionally with all the payment gateways. Payment gateway failure is purely an infrastructural issue. And when there are issues at the gateway level, such fixes are done by the payment platforms quickly. Your money is either debited or not debited but it is safe.
  4. INSUFFICIENT BALANCE- users stay in the impression that they have sufficient fund balance while sometimes they don’t have enough balance for transaction and transaction gets failed.

Gravy  is one such platform which handles all the issues of payment failures on behalf of any business owner or companies. To know more about Gravy continue reading the post as well as you can visit https://www.allgravy.io/ for all the information.

THINGS TO KEEP IN MIND TO AVOID OR MINIMIZE THE RISK OF PAYMENT FAILURE:-

  • Double check the card details you have entered. You may have entered wrong details which will prevent the merchant’s system from recognizing your card correctly.
  • Check whether your credit card has not expired. If this is the case you should contact your bank for additional assistance.
  • Depending upon the country in which you are located you might have to call your bank to authorize your credit card for an online, cross border or overseas transaction.
  • Some credit cards have limits for the maximum sum that can be withdrawn in a single transaction. If you are purchasing many services at once, this can be the reason for the payment to fail.
  • Last but not least, note that you should be able to receive detailed information for any failed or successful transaction from your bank. If a payment fails do not hesitate to contact your bank and request this information.

Being prepared for failed payments and having processes in place to deal with them when they occur can greatly reduce the impact of your business. The most frustrating reason is when your bank refuses the charge even if someone has been a member for a few months already. This seems to be the increasing trend with the US Banks and the only real solution to this reason is to ask the member to contact their Bank directly to authorize the charge on a retry. This is not the ideal solution.

The good news is that none of the reasons need to be the end of the line for your customers though and a failed payment can be often resolved by one way or the other.

AllGravy Review- Customer Retention

It is good to have a process in place even before you need it. Don’t wait until your first time before you implement a failed payment process. Having a system in place is worth it!

Many modern membership plugins will have features in place to help with payment failures. They will work with your payment processor to automatically retry payment a certain number of times before the member account is canceled.

At the minimum you want both yourself and your member to be notified when a payment fails so that you have a chance to fix the problem. What your membership plugin provides will depend on both the plugin and payment processors that you are using. There is no hard and fast rule here.

The first thing you need to discover is what features the tool you are using has in place for failed payments and make sure you have these full setup.  You have to make sure that you understand how failed payment process works for your site, so that if a payment fails you can easily explain to a member what will happen next.

The general failed payment process goes like this:-

  • Payment fails
  • An email is sent to the member and merchant
  • The member site access is suspended
  • The payment is retried automatically after 4-5 days.
  • If the payment fails again the process is repeated up to 4 times
  • After the final retry, the member’s account will be canceled

 

Gravy Solutions : Payment Failure Recovery is recommended by top marketing experts online 🙂

Gravy Solutions testimonials

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Conclusion: Gravy Payment Failure Recovery Review  2019 | Should You Go For It?? They are virtual retention specialists help companies with recurring subscriptions and memberships recover failed credit card payments and increase customer lifetime value 🙂

Gravy is powered by a team of people who are passionate about helping business owners succeed and dedicated to solving the biggest inefficiencies in their business. People at gravy help entrepreneurs and CEO’s solve the problem of failed payments and credit card declines in their business. This one problem alone can cost small business billions of dollars nationwide each year.

We highly recommend you using  Gravy as it has really helped business in succeeding. We hope this post suits yours well. If you like the post, then please do share it on trending social media channels like Facebook, Twitter, and LinkedIn.

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About Jitendra Vaswani

Jitendra Vaswani is the founder of SchemaNinja WordPress Plugin, prior to SchemaNinja he is the founder of big internet marketing blog BloggersIdeas.com. He is successful online marketer & award winning digital marketing consultant. He has been featured on HuffingtonPost, BusinessWorld, YourStory, Payoneer, Lifehacker & other leading publication as a successful blogger & digital marketer. Jitendra Vaswani is also a frequent speaker & having 5+ yrs experience of in Digital Marketing field. Check out his portfolio( jitendra.co). Find him on Google+, Twitter, & Facebook.

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