How Gardencup boosted payment recovery by 32% (from 62% to 82%) and increased LTV by 20%
+32%
Increase in payment recovery
82%
Average recovery rate
+20%
Increase in customer LTV
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About Gardencup
Gardencup’s are FRESH produce-packed salads and superfood bowls that come right to your door in a cold-insulated box, READY. TO. EAT.
With dressings and toppings included right in the cup, all you have to do is Take, Shake, Eat, Repeat.
“We believe clean eating should be SO EASY it's unavoidable. So we put the garden in a cup and ship it right to your door, ready to eat. Gardencups are as effortless, on-demand, and portable as a bag of chips, but packed with fresh, whole produce who’s only “processing” is washing and chopping.”
—Gardencup
The Problem
Gardencup scaled rapidly, yet their recovery rate of failed payments hovered around 60%. While Gardencup quickly became an essential part of their customers' routine, they needed help with recovering more payments and faster in order to maintain their clean eating promise and tight fulfillment windows. For Gardencup, customer experience is #1 so any communications or actions taken with their customers had to be optimized to them.
How They Solved It:
To tackle the challenge, Gardencup added FlyCode's Payment Recovery App in Recharge.
Churn Audit Tool
Using FlyCode's churn audit tool, they were able to analyze their failed payment and recovery rates from the previous year and measure the impact of potential improvements. FlyCode's audit identifies detailed trends in key segments of the recovery funnel in order to forecast the impact their payment optimization will have.
Payment Optimization Engine
🏦 FlyCode's product saves your recurring sales. It maximizes the recovery of failed payments to increase revenue and customer retention.
🤖 The platform was built when ML/AI was readily available and leverages it to personalize the recovery journey for each brand and their customers. This approach significantly outperforms the fixed-interval retry strategies and one-size-fits-all communication strategies.
🧮 There’s no single reason for failure that can be isolated to fix this problem. Each customer and their payments need to be treated individually.
FlyCode's advanced payment analytics helps Gardencup monitor payment failure rates, recovery rates, and track performance of communications over time. Within FlyCode's portal, the data is populated in real-time, is fully exportable, and includes risk-classification to identify failures before they occur.
Smart Recovery Emails and SMS
There are many payments that cannot be recovered with payment optimization and require customers to take action. To deliver a complete solution, FlyCode provides smart recovery emails and transactional SMS as part of its tailored recovery platform. Both the payment optimization and recovery emails/sms are powered by ML/AI, ensuring each channel is tightly coordinated with each other.
״FlyCode is completely fail-safe. We increased our recovery rate from 62% to over 80%, which was huge for our business. We are grateful for their fast response, their efficient system, and overall improvements to our customer experience״
Christy Dixey
Manager of CX & Ecom
The Impact
By integrating FlyCode into their eCommerce stack, Gardencup achieved a substantial uplift in their recovery rate. Here are some of the key outcomes of this partnership:
Huge boost in the recovery rate — from 62% to 82% on average over the last three quarters
Faster time to recovery — 6 days faster on average
No-Brainer ROI for Revenue and Retention Boost: estimated ARR increase of 9% and a 20% increase in customer LTV in less than a year.
Personal note:
Gardencup won the Trailblazer Award at the 2024 ChargeX conference! They deserve a big congratulations for this accomplishment, and we could not be happier for them.
