A share of your lost customers never decided to leave. Their card expired, hit a limit or was declined, and nothing brought them back. This is often the cheapest churn to fix.
Check what your payment provider already does
- Does it retry failed charges automatically, and on what schedule?
- Does it email the customer when a payment fails?
- Does it update card details automatically when a card is reissued, where that is supported?
Much of this is a setting and is sometimes off by default.
Then add what is missing
- A plain email on failure, with a direct link to update the card
- A reminder before a card expires
- A notice inside the product when a payment is overdue
- A short grace period before access is removed
- A personal message for your larger accounts
Measure it
- How many payments failed last month
- How many were recovered
- How much revenue that was
Reply with what you have set up and what your recovery rate looks like. If you have never looked at the numbers, look and report back.