Really interesting response, thanks for taking the time to write it. Would be interested to see if other āpaid forā features have also been considered as a release and whether you could share any hypothesis, if you are able to.
Sounds like a good level of experimentation and evolution to work out what the next version of the app and accounts would be.
How do you collate data as to whether what you do actually has an effect. Surveys? I ask because if it is the latter and you got direct feedback that said the reason x percentage of plus cancellations was as a result of this move///x percent of users buy plus because of the open banking integration then it would take a lot of what is otherwise a fair guess away?
I donāt quite follow the argumentation that these need to be paid features. Are you saying that because the features are paid they have additional value in usersā eyes? Or are you using it as a shortcut for these features, which happen to be in the paid tier?
Basically, wouldnāt the same argument apply if the Plus/Premium feature set were totally free?
Apologies, I wasnāt clear - I meant this is how the features that are currently available to Paid users only could generate revenue if they were made available to everyone.
Iād rather not go into specifics here, so unfortunately Iāll revert to the boring but safe āweāre always looking at how the external market is developingā and āweāre always assessing which features should sit behind the paywallā - sorry!
Again, I wonāt go into specifics on how we conduct data analysis, but there are many ways to gauge the impact of our actions - surveys is one; another would be to observe how user behaviour changes after we make a change in the app; and many other more sophisticated analyses!
I am sad to be all āI told you soā, but I definitely strongly pointed out on the forums here several times that the people who benefit most from budgeting are those who are closer to the breadline, and thus are less likely to want/be able to pay for Plus/Premium. I am glad youāve realigned the product to be more congruent with this reality.
I suspect that the only reason Monzo has done this is because the trend graph features heavily in the new UI (and it does on a few of the screenshots) and they donāt think those who donāt have plus/premium will want to pay for it.
That or the development has been paid for.
I may be wrong since I donāt work here but Iām not fully buying the ācost of living supportā line fully.