This feature or setting is available to all customers on any Recurly subscription plan.
The new renewal decline rate dashboard will provide insights on renewals that fail on the initial transaction attempt, enabling you to understand the effectiveness of your payment method and gateway strategy to decrease your decline rate, comparing yourself to others in your industry with Recurly’s built-in benchmarks.
Industry comparison: Compare key subscription metrics with industry benchmarks to understand performance relative to peers, identifying areas of strengths and weaknesses.
Competitive insights: Gain insights into how competitors are faring in terms of subscription metrics, uncovering areas to differentiate and improve to gain a competitive edge.
Informed decision-making: Make informed decisions based on real-world data to help set realistic goals and expectations for subscription growth and customer retention.
Forecasting and planning: Enable more accurate forecasting and long-term planning to help businesses set reachable growth targets and allocate resources effectively.
- Invoice Creation Date: Offers dropdowns to specify a timeframe and date range, up to the past 18 months, which then reflects on the dashboard.
- Industry: Offers the ability to switch between different industries to view comparison to other industries beyond your identified industry. You can change your identified industry in the analytics settings but that change can take up to 24 hours.
- Gateway: View your renewal declines based on all gateways, or select a specific gateway to explore.
- Failure type: By default, the top 5 decline reasons will be displayed, and you can modify the filter to display additional decline reasons.
- Payment type: Review your renewal declines by selecting specific payment methods that you offer to your customers.
The new Renewal Decline Rate dashboard will provide insights on renewals that fail on the initial transaction attempt. A renewal invoice is any invoice generated from a subscription renewal. These are invoices that occur at a regular interval, and do not include initial signup subscription invoices or the first invoice after a trial.
Renewal decline rate calculation
- Percentage of renewal invoices that fail on the initial transaction attempt.
- Initial transactions are the first transaction attempt on an invoice.
- Why only the first transaction on an invoice? To compare apples to apples with merchants that have different retry attempts per invoice.
- Time period is the time of the initial invoice transaction.
Your percentile is displayed relative to your rank within your configured industry.
Click on the “View Percentile Trend” link to see your percentile over time.
Recurly’s benchmark reports will allow customers to see their key performance metrics and how those metrics compare against similar companies within their industry and across a specific timeline.
View your decline rate trend over time, so you can monitor your decline rate and explore any growing issues with your renewals. Compare a similar timeframe year over year to understand your performance.
Note: the amount of invoices represented in the current month will be lower than previous month since invoices will continually be generated as the month continues.
This dashboard displays your payment failure types by count of invoices. The data provides a detailed view of your failure types for invoices that failed on the first attempt to collect:
- The overall invoice count during the dashboard’s date range.
- A comparison between the start and end of the dashboard’s date range.
- The count of Invoices at the start of the dashboard’s date range.
- The count of Invoices at the end of the dashboard’s date range.
- The % of this count has increased or decreased since the start of the dashboard’s date range.
Learn more about which gateways and payment methods are performing well on renewal. These tables provide data on the performance of your different gateways and the supported payment methods and card brands for each gateway.
For each of these areas, we provide a detailed count of Renewal Invoices, Renewal Invoices Failed on 1st Attempt to Collect an Invoice, Renewal Decline Rate, and Rate Change (during selected date range).
Continue to learn more about how Recurly helps you prevent churn and your renewal invoice decline rate by navigating to the related dashboards. Also review your dunning campaign strategy to continue to increase your dunning recoveries.
Updated 22 days ago