DOVC – #031 – How to Recover Failed Payments Automatically to Turn Losses into Profits

Related posts

How to Recover Failed Payments Automatically to Turn Losses into Profits

If you sell products online, you're likely losing a fortune from failed transactions you don't even know about. 

On average, 20% of attempted purchases fail due to technical errors.

What if you could automate recovery of these failed payments to turn losses into instant profits?

In this article, I'll reveal how a simple failed payment automation helped me instantly boost revenue by over 30%. 

Then I'll explain how to set this up in 3 easy steps to recover failed payments on autopilot.

Here's what I'll cover:

  • Why up to 20% of your attempted sales are failing silently
  • How to automate failed payment recovery to drive profits
  • The 3 critical components of a failed payment sequence
  • Exactly how much revenue you are losing without knowing it
  • How this one change resulted in over 30% revenue increase
  • Why it also saves you money on customer support
  • How automating failure recovery transforms your bottom line

The Failed Payments Problem No One Discusses

Here's a reality most businesses don't want to acknowledge – a significant portion of your attempted purchases fail and get lost in the ether. 

This could be due to errors like expired payment methods, breeched credit limits, or technical glitches.

Studies show anywhere from 10-20% of transactions attempted by motivated customers hit a wall and fail out. 

You have no system in place to recover these.

Just imagine how much additional revenue you could generate if you automated rescuing these failures by guiding customers to reattempt purchase. 

For most businesses, it translates to an instant 10-30% revenue boost.

Automate and Recover Failed Payments in 3 Simple Steps

Here are the 3 critical components needed to automate failed payment recovery:

  1. Track failed payments in analytics to quantify missed revenue.
  2. Send automated email reminders to retry purchase with new method.
  3. Provide direct link for easy re-purchase with one click.

That's it! 

Now instead of ignoring failures, you have a system to reactivate and capture lost income automatically.

It Also Saves You Money and Aggravation

Beyond boosting revenue, failed payment automation also prevents customer frustration.

Imagine trying to purchase but hitting an error. 

Now the buyer wonders if you erroneously charged their card.

They may panic and dispute the charges, contact support angry, and leave bad reviews assuming you're a fraud. 

The failure ruins the relationship before it even starts.

But automated recovery reassures the customer, reduces disputes and complaints, and preserves the transaction.

How Much Lost Income Are You Leaving On The Table?

Let's look at a quick example:

  • 1000 sales attempted per month
  • 20% fail = 200 failed transactions
  • Your product price is $500
  • 200 failed x $500 product = $100,000 in lost revenue

Just by recovering 25% of those fails, you generate an extra $25,000 in pure profit! 

Are you ready to start unlocking all that untapped revenue?

Turn Failure Into Growth With One Tweak

Hopefully by now the immense revenue potential sitting dormant in your failed payments is clear. 

Stop losing income over temporary hiccups and turn failures into growth!

Implementing automated recovery takes this untapped profit stream and puts it on autopilot. 

Let's chat about getting this mutually beneficial system up and running in your business.

Key Takeaways: Recover Failed Payments

  • 10-20% of your attempted sales fail due to technical errors
  • Automate failed payment recovery via email reminder sequences
  • Track failures in analytics to quantify missed revenue opportunity
  • Reassure customers, reduce disputes, and preserve transactions
  • This one tweak can increase revenue instantly by 10-30%
  • Calculate how much you are losing to see the impact
  • Turn failure into growth with automated payment recovery

Let's connect to turn your failed payments into profits!

Whenever you're ready, there are 3 ways I can help you:

1. The Virtual CEO OS: Work Less While Earning More – Join 1,000+ Founders & CEOs working less, saving time and getting their life back. The exact system I used to cut my workload by 83% in 3 months . All This while scaling my business. Go From Overworked & Stressed To Working Less, Saving Time & Getting Your Life Back!

2. ​Growth Hacking OS Course & Software For Entrepreneurs:​ List Builder Boss helps entrepreneurs, solopreneurs, founders and CEOs, grow their email list on autopilot without ever creating a single funnel or run a single ad. This is the Ultimate Passive Income Hack! Get hundreds of emails per day for FREE & Grow Your Email List & Income On Autopilot.

3. Social Media & Sales Automation For Entrepreneurs: Want me to help you automate all your tidious social media as well as your sales? This New Bot Added 227 Paying members & $10,669 A Month In Revenue To An Unknown Business Coach In San Diego In Just 7 Days With FREE Traffic… On Automation

If You Like It Please Share

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe To The Newsletter

Join 100,000+ subscribers to my daily Growth hacking & Time Management tips. Every morning, you’ll get 1 actionable tip to help you build, grow, and scale an automated internet business that runs completely without you. 👇

HERE IS HOW I CAN HELP WHENEVER YOU ARE READY

100% FREE MASTERCLASS: Join 1,000+ Founders & CEOs working less, saving time and getting their life back. The exact system I used to cut my workload by 83% in 3 months . All This while scaling my business

 

delivers hundreds of laser targeted leads on autopilot so you can convert them into loyal, high-lifetime-value customers.
How to 10X Your Business
Growth in 90 Days or Less. Use Growth Hacking Techniques To Skyrocket Your Profits Effortlessly.

 

How We Added 227 Paying members & $10,669 A Month In Revenue To An Unknown Business Coach In San Diego In Just 7 Days With FREE Traffic… On Automation
 
 
I am still on the journey to create a positive legacy and positive change in the world and to be honest: I'm still trying to figure this thing out just like you.
Behind every successful business lies an entrepreneur’s tale of courage, conviction, perseverence, grit and challenges.

HELLO AND WELCOME!
My name is Martin and I’m the creator of the MARTIN EBONGUE BLOG. Understanding how to create passive income, how to start businesses that run without me & how to make money online changed my existence. It allowed me to travel full-time, have ton of fun and live life on my own terms.

Copyright © martinebongue.com

en_US

Register Your Spot Now

Just enter your best email to secure your spot on this webinar…

🔒 Your details will be held securely – we guarantee not to spam or pass information on

Act Fast – Webinar Spots Fill Up!