What is this? Convince users who are canceling their account to stay by offering them a price reduction.
Why should I do this? Some of your users might be canceling because of price. Offering them a reduced price if they stay as a customer is better for revenue than if they canceled outright.
Who else is doing this? SaaS companies sometimes offer users a reduced price before final cancellation but the industry most well-known for using this tactic is the adult industry (not that I would know about that sort of thing).
How can I implement this? This tactic can backfire if advertised too obviously - satisfied customers may visit your cancellation page simply to receive the reduced price offer. One way to mitigate this would be to display the offer only after the user has visited your cancellation page and clicked “cancel”.