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• Guide offers tips to reduce customer churn for businesses with subscription models New features enable Stripe Billing users to better understand customer churn and recapture lost revenue

Dublin, January 24, 2024. The financial infrastructure platform Stripe has published a new guide on churn management for businesses with recurring payments. The guide aims to help companies better understand and mitigate customer churn. Additionally, Stripe introduced new features for revenue recovery, including a new revenue recovery interface in the Stripe Dashboard, new automation options, and new analytics tools.

Customer churn is a much bigger problem than most businesses with recurring billing realize. A study by Stripe shows that 25 percent of all subscription cancellations happen unintentionally, for example, due to expired credit cards. A recovered monthly subscription, however, runs on average for another seven months. The study also shows that customer acquisition costs have risen by 60 percent over the last five years. Thus, retaining existing customers is now up to seven times more cost-effective than acquiring new ones.

"Better customer retention should be at the top of the resolution list for 2024 not just for Software-as-a-Service companies, but for all companies with recurring payments: It's much cheaper to keep customers than to win new ones. Churn management is an especially effective way to increase Customer Lifetime Value and thereby boost revenue. We believe that this guide and the new revenue recovery features from Stripe provide a useful basis for companies to declare 2024 the year of improved customer retention," comments Marcos Raiser do Ó, Stripe's Country Manager for Germany.

Stripe Billing, supporting more than 200,000 companies worldwide in accepting and managing recurring revenues, continues to evolve. Some of the world's most renowned SaaS companies and subscription providers work with Stripe Billing. This includes, in Germany, Babbel and FINN Auto, as well as internationally renowned companies like Atlassian, Slack, Doordash, and The Atlantic.

The Stripe guide can be downloaded here: https://stripe.com/en/lp/stripe-guide-to-churn.

About Stripe
Stripe is a financial infrastructure platform for businesses. From startups to the world's largest corporations, millions of organizations use Stripe to accept payments, boost their revenue, and explore new business opportunities. Headquartered in San Francisco and Dublin, the technology company aims to increase the GDP of the internet.

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