Lifecycle management

You can decide to set an expiration date for your subscription taking place after the expected renewal date, to optimize the renewal efficiency.
In case the payment fails on the first attempt, this grace period will give your end-user a few days to update his payment method or fund his bank account, and finally renew his subscription instead of being lost for your business. You should keep in mind that it’s far easier and cheaper to keep an existing customer than to recruit a new one!