Tip: ask for a backup card during the signup process. Today, Alex (@AlexHormozi) talks about their social media presence and provide a tactical tip on how to eliminate two-thirds of payment declines for recurring businesses by getting backup cards from customers during the signup process.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:53) - Sale starts with signup process.
(1:29) - Get two cards after backup card request.
(1:37) - Swap card and rerun recurring members for fewer declines.
(2:22) - Implement to eliminate two-thirds of declines practically overnight.
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