Saving Failed Payments : Key to Securing Subscriber LTV
Understanding metrics that matter
Abstract:
New research has revealed a staggering gap in the number of subscription companies that track customer lifetime value, which ironically is one of the key metrics for subscription success. PYMNTS surveyed 200 decision-makers at subscription firms in retail, health and fitness, media and publishing, home security, and online gaming. They found that 91% of subscription merchants don’t measure customer LTV and have no standards or definitions for doing so. Listen to this fireside chat between Darryl Hicks, CEO of FlexPay, and Karen Webster, CEO of PYMNTS, as they deep-dive into the impact of customer churn, what LTV actually is and its impact on subscription business, and options to combat loss.
Speaker Bio
Darryl Hicks
CEO/Fouder, FlexPay Darryl has been active as a successful serial entrepreneur and technology expert for more than 20 years. A pioneer in Card Not Present sales, Darryl has extensive experience building and managing technologically complex online and offline Direct Marketing businesses. Darryl is the CEO, and Founder of FlexPay, a transaction processing gateway that leverages machine learning to reduce credit card declines, as well as performing transaction cost and risk arbitrage. FlexPay was born out of necessity to optimize the significant volume of credit card processing within his Marketing and e-commerce businesses. Darryl has founded or co-founded several successful B2C and B2B businesses in the past, servicing millions of consumer customers across four continents, successfully exiting from two larger companies (2006, 2011). He has also served on the boards of multiple early-stage companies, holds technology patents, and serves as an active advisor to many e-commerce and Direct Marketing entrepreneurs.
Speaker Bio
Karen Webster
CEO, PMNTS.comEntrepreneur, advisor and board member for companies operating in the payments/commerce, mobile, software platform, technology and digital media industries. Platform innovation and monetization is a key focus, particularly in the commerce sector. Founder of PYMNTS.com, the industry’s leading B2B marketing platform. Recognized industry thought leader and frequent industry speaker, ranked among the top 10 money and finance writers on LinkedIn and among the top 50 retail industry influencers ranked by Vend University. Author of numerous published articles and whitepapers on payments, mobile, social strategy, product design, pricing/incentives, and customer acquisition, retention and loyalty.
