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Science of Skill

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.
51%
increase in initial retry success
37%
more declined revenue recovered
31%
improvement in order recovery
27.4%
more money 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.

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. 

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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.

27.4%
increase in dollars recovered per attempt
40.7%
increase in revenue recovered
30.7%
increase in the number of successfully recovered orders
51%
improvement to success rates on first retry attempts
About
Science of Skill, dedicated to promoting self-reliance and self-defense through online education, strives to support individuals on their lifelong journey. By providing top-notch equipment and training, the company ensures individuals feel confident and well-equipped for their self-reliance journey.
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