Pricing Incentive for Loyal Customers

MSStateDawg
MSStateDawg Member ✭✭✭✭
edited January 30 in Before you Buy
As is likely the case for numerous users, in May of 2023 I will have been using Quicken for THIRTY. YEARS. This is perhaps before some of the folk working for Quicken today were even born. Yes, I'm old as [insert expletive].

While I understand the reasoning for offering discounts and pricing incentives for new customers, the loyal customer is commonly overlooked in this regard. It's not just Quicken. They all do it.

To demonstrate their appreciation of longtime customers and dispel the perception that they're taken for granted, I would propose that Quicken take steps to reward loyalists with a graded scale of discounts at various levels of tenure.

For example:

10 years - 3%
20 years - 5%
30 years - 7%
40 years - 10%

Or the discount could be 2, 4, 6, 8%.....whatever fits your CRM strategy. I'm sure the veteran user counts from your internal data would reflect a reduction in annual revenue to the tune of 100s of thousands of dollars, but that cash flow hit can be managed/offset through other means.

Thanks in advance for your consideration.

Comments

  • RickO
    RickO SuperUser, Mac Beta Beta
    I like it. But one problem: since Quicken has only been a subscription product for a few years, they probably have no way of knowing/verifying customers who have been using it for 10+ years.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • jr7107
    jr7107 SuperUser ✭✭✭✭
    A thirty year user is impressive! I'm closely behind and understand how it shapes the planning.

    With recent changes in connection type for a number of Financial Institutions (FI) and the use of a third party aggregator for data, you might also want to review the Terms of Use you agreed to when allowing FIs to connect to Quicken:

    I have asked that specific question, who has access to my data. I keep getting referred to the Quicken Terms of Use and Privacy statements. 

    https://www.quicken.com/terms-of-use

    https://www.quicken.com/privacy/us

    https://www.quicken.com/privacy/us/ccpa/disclosures-customers-excustomers

    Please be aware where your data goes now that the connection method has changed.
    Quicken user since 1994.
    Quicken Forum/Community Contributor since 2005.
  • Mark1104
    Mark1104 Member ✭✭✭✭
    @MSStateDawg - I'd prefer they spend their time, let alone their money. fixing all the bugs and issues that have surfaced over the past few months - that is a better investment than creating discounts for long time customers that will flee in any event if these issues are not resolved. 
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I have a feeling that Quicken marketing sees this a little differently.

    10 years - likelihood they will renew 85% - possible discount 3%
    20 years - likelihood they will renew 90% - possible discount 2%
    30 years - likelihood they will renew 95% - possible discount 1%
    40 years - likelihood they will renew 99% - possible discount 0%

    But the real problem here is what @RickO suggested the more complicated you make the system for determining what someone should pay the more likely it won't be possible or if it is possible will just lead to problems and complaints.  It has been years and they have yet to resolve the fact that if you order on the Canadian site, it wants a US zip code instead of a Canadian postal code.  Not exactly glowing report of their ability to do such customizing as discounts based on how long you have used it.

    And let's face it, as @Mark1104 points out it is the bugs that are really driving the most people away.  People might complain about the cost a lot, but in fact if it is really an issue then that person either finds no value in Quicken or they are in a situation in their finances that a few dollars off isn't going to help.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭

    For a company who claims to be an expert in this online stuff
    I would contend that Quicken Inc isn't and expert in online stuff.
    The Canadian website for purchasing Quicken has said "Zip Code" for years when it should say "Postal Code".  Intuit provides the "connective services" for transaction downloading.  Another third-party provides the online part of the Quicken Bill Payment system.  The sync to Mobile/Web has been corrupting data files from the day it was released.
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  • MSStateDawg
    MSStateDawg Member ✭✭✭✭
    edited December 2022
    Chris_QPW said:

    For a company who claims to be an expert in this online stuff
    I would contend that Quicken Inc isn't and expert in online stuff.
    The Canadian website for purchasing Quicken has said "Zip Code" for years when it should say "Postal Code".  Intuit provides the "connective services" for transaction downloading.  Another third-party provides the online part of the Quicken Bill Payment system.  The sync to Mobile/Web has been corrupting data files from the day it was released.
    Not seeing the post from @trishinhouston which you quoted. I guess it got mod-erized. lol
  • JRod
    JRod Member ✭✭✭
    I like the idea of getting discounts for the loyal users.  I've been a user for 30 years too.  I've been using Quicken since it's DOS version in 1990.  Can't remember actual start date but know I was using it in 1990.
    However, I doubt any such discount will ever materialize.

  • woppenhe
    woppenhe Member ✭✭✭
    Instead of loyalty pricing, I would prefer that they get their security right. Many of us are having trouble using the program on a daily basis because of cc501 and other errors. The presence of Jasmine getting involved for me means that we are in for a chronic issue. 'We know of the problem and are working on it' really does not mean much any longer.  All the banks and other financial entities are tightening their security requirements, and it is as if Quicken is so old that it cannot keep up. That would be a better use of funds than a $12 yearly discount or whatever it is.
  • woppenhe
    woppenhe Member ✭✭✭
    Here is the type of message that needs to be addressed by Quicken:
    ONGOING 1/2/23

    This issue remains ongoing. We cannot provide an ETA regarding a resolution at the moment, although we do have teams continuing to work on the problem. We apologize for the inconvenience and we thank you for your patience.
  • woppenhe
    woppenhe Member ✭✭✭
    It is working now without an inordinate delay,  so maybe there is still life in Quicken, after all.
  • JHef0331
    JHef0331 Member ✭✭
    > @Mark1104 said:
    > @MSStateDawg - I'd prefer they spend their time, let alone their money. fixing all the bugs and issues that have surfaced over the past few months - that is a better investment than creating discounts for long time customers that will flee in any event if these issues are not resolved. 

    Maybe us long-time customers could teach you a couple of things. Don't even for a moment think that we are not dealing with "all the bugs and issues" you are dealing with. It is just that we have paid for it many more times than you have.
  • woppenhe
    woppenhe Member ✭✭✭
    WE are on the same page here.  I will say that Leo, and their premium service division, was most helpful today when the BOA told me that web express no longer worked on their system and only manual downloads were working.  I knew this was not true, and I had to simply replace a credit card.  Initially BOA did not offer the ability to relink to the old account, but Leo and I worked it out. Definitely a step in the right direction.
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