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Case Study

How Science of Skill Overcame Payment Declines with a 40.7% Increase in Revenue Recovery

Learn how Science of Skill improved payment declines with Recovery by Sticky.io, achieving a 40.7% increase in revenue recovery and a 27.4% increase in dollars recovered per attempt.

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Overview

Science of Skill, a leading online educational resource promoting self-reliance, strategically transitioned to Sticky.io’s Recovery in March 2023. This case study outlines their journey, showcasing significant improvements in decline recovery.

51 %
Increase in initial retry success
37 %
More declined revenue recovered
31 %
Improvement in order recovery
27.4 %
More money recovered per attempt
Challenges

Declined Transactions Threaten Stability and Subscriber Loyalty

Before Recovery by Sticky.io, Science of Skill faced declined transactions affecting financial stability and subscriber satisfaction. Their struggle extended beyond numbers, emphasizing the resilience needed to maintain stability.

Solutions

Recovery Boosts Revenue Recovery and Customer Retention

The activation of Sticky.io's Recovery catalyzed Science of Skill’s decline recovery, leading to:

  • Enhanced decline recovery: In the six months following Recovery's activation, Science of Skill achieved a 28.7% success rate by revenue, indicating a substantial 40.7% increase in decline recovery compared to their previous performance.
  • Increased salvaged revenue: With Recovery in place, Science of Skill enjoyed a remarkable 36.8% increase in salvaged revenue in the six months post-activation.
  • ‍Improved success rate on initial retry: The success rate on the first retry showed substantial growth, rising to 15.6% after Recovery's activation. This 51% increase in initial retry success indicated that more declined transactions were resolved on the first attempt, enhancing customer satisfaction and retention.
Results

A 40.7% Increase in Revenue Recovery

Science of Skill's transition from another smart dunning service to Sticky.io’s Recovery yielded remarkable outcomes, showcasing the solution's significant impact on Science of Skill's decline recovery and subscriber retention. 


They observed a substantial 27.4% increase in dollars recovered per attempt. This significant financial benefit highlighted the solution's effectiveness in maximizing revenue recovery.

Recovery enabled Science of Skill to elevate its revenue success rate from 20.4% to 28.7%, reflecting a remarkable 40.7% increase in revenue recovery.

The success rate by order count also exhibited substantial growth, rising from 20.5% to 26.8%, marking a 30.7% increase in overall order processing efficiency.

The adoption of Recovery not only bolstered their financial stability but also contributed to a more reliable and efficient subscription billing system, reinforcing their leadership in the online learning industry.

Turn your failed payments into profits

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More Case Studies

Find out how other businesses like yours have grown revenue using Sticky.io! 

Truly Free Found a Better Way— and Bigger Wins

Sticky.io has given us the ability to take our company and our membership experience to a whole new level. If you’re in the ecommerce world and thinking about subscribing your tribe and giving them a world-class experience, as well as getting scalable insights to how you can grow your company — I really don’t know of another platform I would recommend like Sticky.io.
Stephen Ezell CEO, Truly Free
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