In this article we will show you how you can reduce churn and increase LTV by giving your customers the option to skip an installment instead of having them cancel a subscription.
From time to time, for whatever reason, your customers may need to skip an installment when they are subscribed to a plan in PayWhirl. Instead of requiring your customers to cancel their subscriptions (which would prevent any future invoices from being generated) and crossing your fingers that they will return to resubscribe, you can allow your customers to skip installment(s) from within the customer portal.
If you allow customers to skip installment(s) they will remain subscribed to their plan in PayWhirl and their invoice processing date will simply be adjusted to process in the future at whatever interval frequency the plan is currently set to use (daily, weekly, bi-motthly, monthly, etc).
By default the skip installment feature is DISABLED on new PayWhirl accounts but it can be enabled by going to...
Account Settings > Advanced Settings
Once you enable the setting you will see a new option appear below it. This additional setting allows you to limit the total number of times a customer can skip an installment before the system prevents them from skipping any more installments. By default, when enabled, a customer can skip as many installments as they'd like but you can limit the number using the "Skip Installment Limit" setting...
If you want to give the customer complete control, you can delete the value to set to the default to no limit.
Once you have this feature enabled, your customers can login to their customer portal to manage their subscription. They will now have the option to skip an installment instead of cancelling.
Once the customer confirms they want to skip the installment, they will see a portal notification letting them know the change was processed and the dates for their next invoice were adjusted.
Customers can also skip an upcoming invoice by viewing it directly from the payment calendar or billing history section of the customer portal.
If needed, you can also customize the related text from the translation page in your PayWhirl account.
NOTE: If customers are on an installment plan with a fixed number of payments, skipping an installment doesn't reduce the total number of payments remaining. It only reschedules the upcoming invoices. For example, if a customer had 5 installments left before they 'skipped', they would still have 5 installments left after they 'skip'.
If customers change their mind after skipping an installment you can also make changes to their billing cycle to adjust their billing date, change the number of installments remaining, etc. if needed.