An established anonymous VPN provider with a substantial customer base had been using a dual-payment system. Clients were given the choice of using manual one-time crypto payments or credit card subscriptions. While the flexibility of payment options was well-received by customers, the VPN provider noticed an alarming trend. The manual crypto payments were experiencing a significantly higher churn rate than credit card subscriptions. Intrigued by this discrepancy, the VPN provider decided to dive deeper into the underlying cause.
Identifying the Problem
Through a meticulous series of customer interviews, the VPN provider identified a surprising trend. The high churn rate wasn't entirely due to dissatisfaction with the service. Instead, a significant proportion of users admitted to forgetting to manually renew their subscriptions. These were customers who wanted to continue using the VPN service but were inadvertently losing access due to missed payments.
The Solution: UniSub.io Integration
Recognizing the need for automation in the crypto payment sector, the VPN provider integrated UniSub.io – a platform specializing in recurring crypto subscriptions. The goal was straightforward: to automate the payment process for customers choosing crypto as their preferred method, thereby eliminating the risk of missed renewals.
The outcome of the integration exceeded expectations. The churn rate for manual crypto payments witnessed a considerable drop from 28% to 20.27%. In terms of service lifespan, this integration increased the expected user lifespan from 3.57 months to a commendable 4.93 months. This signifies a notable 38% increase in the Lifetime Value (LTV) of these crypto payments.
Moreover, a post-integration study revealed that users were now 20% more satisfied with the service. The newfound ease and simplicity of automated payments translated to more time saved and less hassle for users.
By integrating UniSub.io's automated crypto subscription platform, the VPN provider not only mitigated the churn rate but also enhanced user satisfaction. This case underscores the importance of streamlining subscription models and highlights the untapped potential of automated crypto payments in fostering long-term customer relationships.
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