Churnkey’s Post

It's here! Great to see that the FTC just published the final text of Click to Cancel Rule with most provisions going into effect in 60 to 180 days. The initial process and draft text started in 2019, and it's been fascinating to see its evolution over the years. While it will require some changes to signup and cancellation flows for subscription businesses, I am happy to see that FTC has responded to brand concerns and important concessions were made. These include not mandating annual reminders and dropping a prohibition that made it harder to share alternative plans and value propositions. Although the rule is primarily consumer-centric, I hold the contrary belief that it will ultimately benefit brands and marketers in the long term. One, it will encourage marketers to be proactive about communication of brand value propositions, and utilizing data and personalization to enhance customer engagement to help customers derive maximum value from their product. Over time, this will accrue to the bottomline via higher brand loyalty and increase in LTV. Second, I think it will diminish consumer apprehension towards subscriptions and trials, which has been heightened by consumers experiencing years of  inconsistent messaging and unscrupulous actors. Exciting times ahead! https://lnkd.in/g3tgJrGJ

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❌ So much to unpack here on the heels of the FTC announcement for the Negative Option Rule. Subscription business stakeholders have been hearing about this and eyeing next steps since late 2022 into early 2023. We all knew it was coming. I can say that I've seen more consumer centric companies making cancellation easier even prior to this ruling BUT it's not just about cancellation. 💼 This ruling impacts marketing tactics (i.e. free 1st box offer or "waterfall" marketing) as well. Many are arguing that it makes cancelation TOO EASY and might even bring about negative experiences for consumers that didn't mean to cancel but possibly just 'skip' a week. A major hit to retention, marketing, and growth teams. I think back to some gym memberships I've had that required you to physically go to the gym you opened your membership at to cancel after I had moved out of state - OR - write to them and mail in your cancellation request... 😑 🙅♀️ In those cases yea, you can stand to make some adjustments... But how will this impact media, SaaS, subscription box, and others? 💡 What's your opinion of the ruling?

We're getting a lot of questions about the FTC's new "Click-to-Cancel" rule. Good news is: we've read the 230-page memo so you don't have to, and if you use Churnkey to power your cancel flows, you're in good hands. In six months, the FTC will require subscription businesses to offer cancellations as easy as signups. Don't comply? Prepare to be called out and to get a fine. Because you should. It's 2024—and "call-to-cancel" schemes we've been railing against for years are finally getting the attention they deserve. So are sketchy cancellation flows with shifting CTA placements and confusing language. We've architected our flows to be user-friendly and customer-centric. Thankfully, the FTC is baking these traits into their "Click-to-Cancel" rules: ✅ Clear and simple cancellation Make cancellation options easy to find and straightforward. ✅ No live rep needed Allow customers to cancel without speaking to a representative or chatbot. ✅ Instant cancellation Ensure cancellation requests are processed immediately. ✅ Cancel as easily as you sign up Cancellations should be as seamless as the sign-up process. We'll continue diving into the research on this, but we've put together three pieces on the FTC's new rule: an analysis of the entire text, a simple compliance checklist to get ready, and how this will affect free trial flows. Links in comments!

Subscription-Based Service Providers Beware! FTC amends "Click to Cancel" Rule making it easier for consumers to cancel services. If your business offers subscription services, this new rule will impact how you handle customer cancellations. The FTC is cracking down to ensure consumers can easily opt out with a "single click" — without any roadblocks. Stay ahead of compliance! Read our full breakdown of what this means for your business and how to prepare. #ClickToCancel #Compliance #SubscriptionServices #LegalAdvisory #ConsumerProtection #marketinglaw #marketinglawyer #marketinglawfirm #ftc https://lnkd.in/eUBA3PNg

The FTC’s recent findings on deceptive design tricks in subscription services highlight the importance of transparency and user-friendly practices. It is so important to ensure we provide a clear, straightforward subscription management solution that prioritizes consumer trust and satisfaction https://lnkd.in/eNxiEXMe

FTC's Click to Cancel Rule In this CMSWire article, Scott Clark dives into the FTC's new rule designed to make it easier for consumers to cancel subscriptions and increase transparency. He dives into implications for businesses, like revising tech and processes to make it as easy for consumers to cancel as it is to sign up. As a consumer, I'm all for making things clearer and easier. And while some businesses will face some operational and cultural challenges to comply, as Scott mentions, it's a good opportunity to build consumer trust and loyalty. I'm interested in hearing people's thoughts on this, especially on the business side. If you have a subscription-based business, what will this new ruling mean for you? Here's the article: https://bit.ly/4g3fhdO

If your growth strategy relies on trapping customers in subscriptions—brace yourself for a major shake-up! 🚫 The FTC just announced the final "Click-to-Cancel" rule after reviewing 16,000+ public comments. 😱 Here's what this game-changing rule entails: → Cancellation Must Be as Easy as Sign-Up: No more jumping through hoops or navigating tricks and traps. If customers can subscribe with a click, they should be able to cancel just as effortlessly. → Mandatory Transparency: Sellers must provide truthful and important information before obtaining billing consent. → Proof of Informed Consent: Businesses must demonstrate that customers knew what they agreed to when they signed up. This is a significant step toward enhancing the customer experience! 🙌 Too many companies complicate cancellation processes to keep customers tied down. Yes, we're looking at you, Adobe, and those elusive gym memberships! These new rules will take effect in April 2025. That's ample time for businesses to adjust and prioritize genuine customer satisfaction over restrictive practices. What are your thoughts on the new regulations? Will they empower consumers or pose challenges for industries to adapt? Let me know in the comments below! 💬 🔗 Read the full FTC announcement here: https://lnkd.in/g9YWNUPj #SaaS #SaaSManagement #SaaSSubscription #ConsumerRights #FTC #ClickToCancel #SubscriptionModel #CustomerExperience #Transparency #BusinessStrategy #Regulations #April2025 #CustomerFirst

🚨 New FTC “Click to Cancel” Rule: Is Your Business Ready? 🚨 The new "Click to Cancel" rule is set to change the way subscription businesses operate. Soon, you'll be required to make cancellations as easy as signups. Non-compliance could result in fines, penalties, and reputational damage. Here’s a quick checklist of what you need to do to stay compliant: ✅ Clear and Simple Cancellation Make cancellation options easy to find and straightforward. ✅ No Live Rep Needed Allow customers to cancel without speaking to a representative or chatbot. ✅ Instant Cancellations Ensure cancellation requests are processed immediately. ✅ As Easy to Cancel as Signing Up Cancellations should be as seamless as the sign-up process. For more details on how to get ready for the "Click to Cancel" rule, check out Churnkey's comprehensive guide to staying compliant 👇 https://lnkd.in/e3X62BMX

https://lnkd.in/g54GJHqk Businesses will soon need to give customers more options to cancel subscriptions, thanks to recent revisions to the FTC's Negative Option Rule. #currentevents #bestpractices #users