Another Price Increase

[kethrym]

Keep increasing the price and you will lose this customer

Started 2103 using this product in April 2103 for $29.00 per month – Payroll and Invoicing

Increased to $40 in November 2014 – Further increase in April 2016 to $45.

I wish I had a captive market that I could increase the price over 55% in under 3 years

[victoria22]

Not to mention the bank feed excess transaction fees that are being introduced...

[AlanT]

https://www.youtube.com/watch?v=XP2irJqkl20&feature=youtu.be

http://investors.myob.com.au/FormBuilder/_Resource/_module/HhW--OHCfU-MPYnMov-UPA/documents/MYOB_Ann...

EBITA for 2015 was up 19%

Revenue was up 10%

Number of users on subscription up 8%

But still they need to increase their fees by a minimum of 10% *and* charge for bank feeds.

[Suja_P]

Hi @kethrym,

Thank you for your feedback.

The price of subscription for most of our products typically goes up around this time of the year. This has not been the case with Essentials, as we've maintained the base cost for using Essentials at $29.00 until this recent change.

This past year our Essentials customers have had numerous updates, with features and enhancements like, Invoice tracking, Budgets and Customising profit and loss reporting to name a few. And looking at the roadmap for the product I can assure you that we have a lot more exciting new functions and features that are planned for the year ahead.

Therefore, while this may seem like a substantial increase we are confident that your subscription will continue to deliver great value.

[LCrowhurst]

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@victoria22 wrote:

Not to mention the bank feed excess transaction fees that are being introduced...

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thats put me off using bank feeds

[Gert]

Hi Suja, how can you explain a 20% price increase as a ‘small adjustment’? Non of the functionality upgrades you mention justify this. On the contrary, some of the new functionality is a step back from the older version in ease of use.

As a customer, I feel that the use of 'small adjustment' is quite misleading and a bit sarcastic.

It's just a trigger to start looking for alternative software packages for the new financial year. You might benefit a couple of months your 20 percent increase, but long term you will be losing existing customers and new customers should be warned.

Regards,

Gert

[TheSeatShop]

As soon as I started reading the email about all the features of Essentials I knew that it was a price rise announcement.

Also, let's not mess about. It's not an adjustment, it's an increase.

My rent doesn't get 'adjusted' by 20%.

[kethrym]

The price increase prompted me to look around. I am a very small business that use Invoicing and Payroll and a few reports. There are a number of alternatives that are close to a quarter of the price at the moment that suit my needs. So unfortunately I will be migrating my data over the next few months ready for the new financial year witha new accounting package.

[Suja_P]

Hi @Gert, @TheSeatShop and @kethrym,

Thank you all for your feedback. I'm sorry for the delay in getting back to you. I understand your concerns about the recent price rise and appreciate that this change may seem significant to you.

As mentioned in my previous responses, we do typically increase the cost of subscription for most of our products around this time each year.

The changes are based on a number of factors, including but not limited to the value that has been delivered to our clients in the past year, by way of features and enhancements; and linking the value that our customers gets out of the tools that we provide, to the price that they pay. 

Considering these we are confident that you will still find excellent value in your Essentials subscription. That said, I have passed on your feedback regarding the price rise as well as those regarding the wording of the message to the relevant team.

[PartnersInTax]

Throughout this thread the MYOB responses still haven't acknowledged that their use of the term 'small price increase' is completely inappropriate and misleading.  If you are intent on a significant price increase on the basis that the product is better then you need to be honest with us.

My sense is that customers feel disrespected.