Perhaps their marketing is good at targeting a particular sort of customer?
The wording of the email didn’t bother me really. I clicked the unsubscribe link to unsubscribe from the marketing that I’ve already opted-out of in the app 
.
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If you opted out, surely this email is a direct breach of the PECR?
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One would’ve thought, yes. But Monzo is not the worst offender I’ve encountered.
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and more than 100,000 customers across its paid-for current accounts, Monzo Plus and Monzo Premium.
So they have 2% of customers paying for a plus or premium account.
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A plus or premium account, I think the stat includes both.
Yes, I mean one of either, I will fix it 
So new investors are coming to the table, that’s a good sign.
As for the 2% on a paid for account, is that a bad result for 3 months and doing that in a pandemic?
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Personally I don’t think so. But nobody will be able to argue either way because we don’t have data from a previous pandemic to compare it to 
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No one got the stats from the National Bank in 1918? pah!
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Assuming average of £10 across premium/plus accounts per customer that’s close to £1 million / month revenue? and growing
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2% sounds about right to me.
My suspicion is that 2% uptake isn’t enough make much difference in the long run, and that 98% of users aren’t benefitting from the time and effort that went into all the development work.
It feels like a lose lose situation.
Monzo stated they had over 50,000 Plus accounts one month after launch (so in August).
As such, if they have only doubled the number of paying customers in the following (just under) 4 months, that could be said to be disappointing, especially given they have launched Premium in the interim.
What is important for me is also the attrition rate - we have seen a number of posts where customers have cancelled after their a few months though some will also have moved from Plus to Premium.
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Given the amount of emails / notifications / app screens I’d expect the number to go up quite a bit soon.
It’ll just annoy people to the point they opt out of all marketing, nowt like been pushy to put people’s backs up.
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Adding customers is a decent enough start, and Premium comes into its own in a vaccinated world where people are travelling again.
4 months is far too early to say if it’s been a success, judge in a year if the numbers are good and the packages have evolved
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I know we’ll never know but I wonder what their costs are per customer for the premium and plus offering.
I also wonder what impact it has when a %age of those people trying premium and/or plus go back to the standard offering and causing Monzo to incur charges to change their cards back
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Pushy marketing works, that’s why everyone does it.
There will be diminishing returns but I still bet for now each notification they send out is producing a fair amount of sign ups
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I’d recorded that to watch later
Ruined now
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