How can we explain the declining adoption rate of Mollie's checkout API among new merchants in the past 60 days?

Introduction

The declining adoption rate of Mollie's checkout API among new merchants in the past 60 days is a critical issue that requires immediate attention. This analysis will systematically identify, validate, and address the root cause while considering both short-term and long-term implications for our product strategy.

To tackle this problem, I'll follow a structured approach that covers issue identification, hypothesis generation, validation, and solution development. My goal is to provide a comprehensive analysis that not only addresses the immediate concern but also strengthens our product offering for future growth.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a recent change in our onboarding process. Have we made any modifications to our merchant onboarding flow in the last 90 days?

Why it matters: Changes in onboarding could directly impact adoption rates. Expected answer: Yes, we updated the onboarding process 75 days ago. Impact on approach: If confirmed, we'd focus on analyzing the new onboarding flow for potential friction points.

• Considering the specificity of "new merchants," I'm curious about our segmentation. Can you clarify how we define a "new merchant" in this context?

Why it matters: Ensures we're looking at the correct user segment and data set. Expected answer: New merchants are those who signed up within the last 30 days. Impact on approach: This would help us narrow our focus and potentially reveal any issues specific to the initial adoption period.

• Given the API nature of the product, I'm wondering about technical support. Has there been any change in our developer documentation or support resources recently?

Why it matters: Poor documentation or support could significantly hinder API adoption. Expected answer: No major changes, but we've had some staff turnover in the developer relations team. Impact on approach: This might lead us to investigate the quality and responsiveness of our technical support.

• Considering market dynamics, I'm curious about our competitive landscape. Have any major competitors launched new features or pricing models in the past quarter?

Why it matters: External market forces could be drawing new merchants away from our solution. Expected answer: Yes, a competitor launched a simplified integration process with a temporary price cut. Impact on approach: This would prompt us to analyze our value proposition and possibly consider short-term competitive strategies.