Cancel Saves
Maximize your revenue with cancel saves
A good cancel saves service is often the single most effective way to boost your lifetime customer value. Our team of agents use strategies and processes that convince a high percentage of departing customers to stay. This often gives you an uplift in retention at an upfront profit.
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What’s the best way to lower my cancellation rates?
Cancels, refunds, product returns, and customers who just don’t want to
continue are a huge problem for all subscription businesses, one-time
transaction businesses, e-commerce businesses and other kinds of businesses that
sell both one-time transactions and subscriptions.
It’s common for us to see at least 15% cancellation rates annually. We’ve even
seen 30% and 40% cancellation rates on specific products, services, and promos.
And that’s at both low-priced levels (i.e., as low as $10/month) all the way up
to high-end services (up to $5,000/year).
This problem stagnates growth, causes untold losses in future revenues, and
gobbles up customer acquisition costs.
To radically reduce cancels, we have designed and built a specialty call center
retention service. Specialist agents reach out and speak to people who don’t
want to continue, find out their problems, and in many cases overcome those
problems and convince them to stay.
In our experience, we can regularly deliver a 25% saves rate. Sometimes it’s
significantly more. Our record for one promotion, with $3,000/year
subscriptions, was a 42% saves rate on one major campaign, which saved millions
of dollars.
What’s a cancel saves service?
When you are dealing with cancels and other kinds of churn, a good cancel
saves service is the single most effective way to retain the customer.
Put simply, it's a specialist team of agents who know all the reasons why your
customers don't want to continue. These agents speak to all your customers who
are leaving. And they convince many of them to change their minds, stay, and
give your product or service another try.
We typically see customers leaving through email cancelation requests, inbound
phone cancelation calls, live chat cancel requests, and cancels through the
cancelation button in their account or website membership area.
Some businesses even consider failed renewals as cancelations.
Having a team, processes, strategies, and tactics in place that can convince a
high percentage of departing customers to stay can cause a major uplift in your
retention rate. It can cause your business to grow. And it can even be done at
an upfront profit.
Why customers cancel, return their products, refund, and leave
You’ve heard the common smoke screens departing customers give you, such as…
- No reason given
- I’m too busy
- I don’t like it
- It’s too hard
- It didn’t work
- I’m going with a competitor
- It’s too expensive
- It’s the wrong time of year
- I’ve gone vegetarian
- My rabbi told me to cancel
- And on and on ...
While it’s important to know these reasons, the real reason is that one of two things happened to them.
- They didn’t use your product or service.
- They used it and it didn’t work.
In either case, your customers didn’t get the full value of your product or
service.
That’s why you need agents trained in cancellation saves who have the processes,
skills, training, and strategies to reach these people, speak to them, find out
which of those 2 reasons is causing the cancelation, and then overcoming it in a
helpful and satisfying way.
What makes Loop the right choice for cancel saves?
Put simply, we know how to build specialist agent teams who are able to…
- Reach and speak to more of your cancels, product returns, and refund requesting customers.
- Convince more of them to change their minds and stay -- even if they had decided in some cases to go.
- Design a call center retention service in a way that’s often profitable on an upfront basis. And even when it's not, it's still bringing in money, so the net cost is de minimis.
These are extremely top of the funnel leads who have taken some positive action to show interest in your business, but they don't rise to the level of warm lead, and you don't know if they're qualified or not.
The way we do this is…
- We train the inbound customer service team in powerful save approaches so they know what to do when they get a cancelation request and can do more than just offer a discount.
- We build processes so that whenever anybody cancels through an email, live chat message, or your website cancellation button on the membership area, we reach out and speak to them quickly and effectively.
- We have intensely studied the reasons why customers don't want to continue with their product or service.
- We study your customer journey, your marketing campaigns, your customers, and your products and services. This way, we can stand in your customers shoes and see things from their perspective.
- We identify EVERY SINGLE REASON why your customers don't want to continue. And for every reason, we build custom retention strategies, tactics, scripting, offers, and rebuttals, so that when we're on the phone with someone, we find out their reason(s) for leaving and convince them to stay.
- We look at what each cancel or product return saved is worth to you and your business. We're often able to build and design the service and the team in a way that, while it's saving your customers, it's generating enough revenue that it not only covers the entire cost of the agents and the team and service, but can even generate upfront income.
Every marketing campaign you do for every product or service you launch, we
ask "why will these customers cancel and what do we need to do to save them?"
Then, we integrate the answers into a custom-made cancelation save strategy,
maximizing your ROI.
Using Loop’s cancel save strategy, you should expect to see at least a 25%
uplift in your retention rate, and sometimes significantly more.
Our numbers
Inbound Conversions
Saves
Quality Score
ROI
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US: 1 855 947 5667 (LOOP)
UK: 44 20 8077 0673
AU: 61 2 8073 5261
sales@loopcontactsolutions.com
support@loopcontactsolutions.com
111 Paseo de Roxas Ave Makati,
Metro Manila,
1229 Philippines
Certifications
What you get
Specialist Sales, Support and Retention Call Center
Founder Jesse Rosenthal and Loop's Senior Leadership team have decades of experience helping many of America's biggest brands to build and run world-class support services and high-performance sales and retention campaigns.
Specialized solutions and services
We have studied the customer journey of various businesses and learned their pain points and opportunities. From that, we've developed 4 solutions and 13 services that increase acquisition, retention and deliver cross-sells and upsells at key points throughout the customer journey. Our services are customized for each client, enabling us to start up new high-functioning call center services quickly.
Strategic planning and process creation
We create and customize processes for each product we will sell and support. We also plan for every communication channel , whether inbound or outbound. These are then cascaded to our agent teams via an in-depth formal training program.
- Sales and retention services - we create strategies, tactics, offers, and more;
- Customer support services - we create end-to-end processes, a knowledge base, call flows, quality assurance programs, and more.
Fully utilized agents who can do phone and email, or sales and support
Each agent is trained separately for each of your products and services to be able to handle both sales and support, whether inbound or outbound. We maximize agent productivity by letting them switch from inbound sales calls to email support, outbound phone to inbound sales and customer services, and more, as needed. We do this while maintaining the highest standards in all channels and service types.
Premium management, support, and frontline agents
Our headquarters are in the center of talent in the Philippines. We select and nurture the best talents to help our clients grow. We go beyond skill and also look at compatibility. A team will be assigned to become your brand ambassadors who will know your product or service inside out. Aside from a strict 4-layer screening process, we conduct monthly refresher training programs to ensure they’re in tip-top shape while representing your brand. Our dedicated HR team knows how to pick the top market agents who have great potential. Our Operations team will train them to become top-performing agents, delivering world-class customer service and exceptional sales results.
Save money and scale your business
We give you the right number of dedicated, skilled, trained agents for your business without overstaffing (and overspending). When you add new products, websites, marketing campaigns, and customers, we expand our scope, learn about the changes, update your processes, and train the agents. As your business’ phone, email, and chat needs grow, we add agents. If you need to scale back, we can do that too.
Project launch team of senior sales and support experts
You will get a seasoned call center operations sales or support manager with extensive experience in launching new services. We will immerse ourselves in your business, build and launch your new service, and manage the team as performance ramps up, to reliably achieve great results.
All-inclusive
We provide fully managed call center services with your goals in mind. We can use your existing processes and/or create new ones for you based on your needs. We are flexible enough to help you scale your business faster.
How it works
Frequently Asked Questions
Our proven, data-driven processes help ensure you hit your customer retention goals faster. We relentlessly monitor and improve at every step to give you results upfront.