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1 Password 8...Opportunity?
Mike - mSecure
Thank you for posting this interview Jules! I just watched it, and I'm passing it on to our development team. I think for your first point, we would love to get mSecure in front of 1Password users. It would be great to show them mSecure as a great alternative for password management. However, in mSecure 6, we're moving to a subscription model ourselves. It's going to be quite a bit cheaper than 1Password's subscription prices, but I have a feeling the dislike of subscriptions is not really about the actual cost. What are your thoughts on this?
Hi Mike - thanks for your reply. As a long-time mSecure user, I'm a big fan of this Application; I recommend it to people whenever the opportunity arises.
My thoughts on Subscription Pricing? Ultimately, it's a utility pricing model that comes with Cloud Services that are, by nature, device independent/neutral. The issue is that a majority of people don't really appreciate this; and are anchored in the 'my PC/mobile is where I one-off buy and ,locally install programs/Apps, which I can use forever with free Upgrades'.
As a retired ex-IT person, I help older people (and family/friends) with getting their tech working for them. This provides an interesting insight into the IT literacy of different age groups; you wouldn't believe the people who like to write in a book their UNames & Pwds :-(
My thoughts about your move to Subscription Pricing? It's all about a) your Customer Segmentation and b) fully appreciating that, for most people, secure Personal Data Management (PDM) isn't a commodity App/Service (eg like Apple Music/ Spotify/SoundCloud/Amazon Music), which you'd maybe 'trial-and-switch' without much brand trust and loyalty. PDM is broader than Password Management which a lot of people use the browser keychain etc. In that context, it's easy to try to 'sell the wrong benefits' for PDM; for example, the ability to 'stop using it if you don't like it' isn't a plus for many....if anything it messages the opposite about the product (chances are you won't like it?) Also, most people are nervous about exporting/importing any data let alone their PDM
I don't understand your business numbers enough to know whether it's viable not move to a Subscription Model (right now) and use this as your Unique Selling Point whilst 1Password have their challenges and a vulnerable customer base? As/when/if you make your move to Subscription, I believe customers would respond best to a tiered model; give them a choice between monthly/annual/life-time payments. There are many examples, www.KinoMap.com is one example - where I signed-up to a Life-time Plan. Also, simply 'lower pice' sometimes signals 'lower quality' and/or 'cheap-and-cheerful brand'; 'high price' is often the opposite but limits the market size based on affordability.
Lastly, I see mSecure's biggest challenge as far more Marketing than Product. It's a solid PDM product but has a very low profile; it rarely appears in media Reviews (in my experience) and must be underachieving on sales volume (?) On the Product side, selling the security of your solution would link nicely to promotion. Out of interest, I found this whilst writing this note: Password Manager Hacking It would be good to know/promote how mSecure faired in each of the 3 states? Again, 1 Password7 doesn't come out of this well - see the report's Conclusion.
Please take this feedback in the spirit it's offered; I simply just quickly typed my thoughts based on various experiences! Hope these help.
I would personally consider another application, and I'll be sad abandoning mSecure, but I hate those subscription plans.
A life time payment would do it, though.
Thank for this app.
Mike - mSecure
@Domi We don't plan on offering a lifetime payment for the new version of mSecure, but if you have an mSecure 5 Pro license, you will be given access to the Essentials subscription tier. You won't have to pay to continue using the same features you currently have in mSecure 5. You will get access to some new features, but there will be a Premium subscription tier available that will require a purchase if you need access to those other features.
Mike - mSecure
@Jules For clarification, you don't need to worry about the subscription, because you won't have to sign up for one if you already have a v5 Pro license. Have you purchased a license for v5?
I hate subscriptions too - avoid them like the plague! I've been with mSec for a long time and have a 5 Pro account. If I remember correctly, I had to pay one-off a second time when v5 came out - I don't object to that when there's something substantial by way of improvement and I understand that you have to make a living. Keep doing it that way and I'll stick with mSec but I wouldn't pay an annual sub.
@Mike Thanks for your reply. Yes I have a v5 Pro Licence - so am now confused. As @David points out, we've paid to go from V4->v5 and you're saying (I think) that the new Subscription Model won't apply to us? Does that mean we're then stuck on v5? Can I suggest that, if this is cost model is definitely going to happen, then mSecure produce an FAQ's sheet and share with existing Users? When these kind of changes are made, communication and managing expectation becomes even more important (as I'm sure you remember from the delayed launch of v5).
Mike - mSecure
I'm not sure what you mean here @Jules. I'm saying that if you have a Pro license for v5, you'll automatically get access to the Essentials subscription tier v6. You won't have to pay for it since you have paid for an mSecure Pro license. You'll upgrade to mSecure 6, because mSecure 6 installs over the top of mSecure 5. Ater you install mSecure 6, you'll have an Essentials account which gives you access to all of the features you have in mSecure 5.
One thing to clarify, when mSecure 6 is released, you'll actually see that your account is in a "Premium Trial" state, because we are giving everyone one 30 days to try out the features in the "Premium" subscription tier. After the trial ends, you will have an essentials account, because you have purchased an mSecure 5 license.
@Mike - thanks for a very helpful Reply. You kinda answered a lot of the Q's which I mustn't have asked clearly enough! I'm now intrigued as to what are the compelling new features in v6 to make it worth considering adopting it?! What your Reply does do is reinforce the need for clear communications :-) Thanks again.
Mike - mSecure
@Jules Do you mean what makes it compelling to purchase a Premium subscription? You should be upgrading to mSecure 6 if you have an mSecure 5 Pro license. Since you won't have to pay to continue using the same features in the old app, there's no reason to stop the App Store from upgrading mSecure 5 to v6. In fact, to be clear, if you have automatic updates turned on in the App Store app, mSecure 5 will be upgraded to v6 automatically, most likely without you even knowing. Having an mSecure 5 Pro account will simply mean that you get an mSecure 6 Essentials account after you upgrade.
I'm not Jules and this isn' a reply to my ticket!
My ticket is
#82431
Mike - mSecure
@David The reason you're getting emails regarding this subject is because you posted in this thread. When you post in a thread, you become a "watcher" for future posts. If you want me to, I can remove you from it, and you won't get any more emails when other respond in this thread.
@Mike - thanks for making things clearer 'Before mSecure 6 is released, all of our v5 customers will be receiving an email letting them know the details of the v6 release. It will tell them the release date we're shooting for as well as the new features and subscription details. The reason it's unclear now is because we haven't yet sent that email, but it's coming soon =)'. Thinking back to v5 delays, all I would ask is that mSecure learn from that and are more conservative this time about the release date. Once that Date/Month/Quarter is out there, folks assume it's being project managed well enough to be met.
Jules
Was wondering if you guys have watched this?
1Password 8 Interview
This is a great opportunity to promote mSecure to their users who are unhappy about a) a brand new, completely re-written App and b) their move to a Subscription licencing model.
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