For MobiKwik's bill payment service, should we emphasize adding more billers or streamlining the payment process for better user retention?

Introduction

For MobiKwik's bill payment service, we're facing a critical trade-off between expanding our biller network and optimizing the payment process for better user retention. This decision will significantly impact our product strategy and user experience. I'll analyze this trade-off by examining our current product, identifying key metrics, designing experiments, and providing a data-driven recommendation.

Step 1

Clarifying Questions (3 minutes)

• Context: I'm assuming MobiKwik is a digital wallet and financial services platform. Could you confirm if bill payments are a core offering or a newer feature? This helps me understand the strategic importance of this decision.

Why it matters: Determines resource allocation and prioritization Expected answer: Core offering, significant revenue driver Impact: Would justify more resources for optimization

• Business Context: Based on the focus on user retention, I'm thinking we might be facing challenges in this area. Can you share our current retention rates for bill payment users compared to industry benchmarks?

Why it matters: Helps quantify the problem and set improvement targets Expected answer: Below industry average, specific numbers Impact: Would influence the urgency and scale of our solution

• User Impact: I'm considering different user segments. Do we have data on which user groups (e.g., age, location, bill type) have the highest churn rates?

Why it matters: Allows for targeted improvements Expected answer: Specific segments identified Impact: Would guide feature prioritization and experiment design

• Technical: Considering scalability, how flexible is our current backend infrastructure for adding new billers versus optimizing payment flows?

Why it matters: Assesses feasibility of each option Expected answer: Details on technical constraints or capabilities Impact: Could limit options or open new possibilities

• Resource: Given the potential scope of either option, what's our current team capacity for taking on new development work?

Why it matters: Determines realistic implementation timelines Expected answer: Available engineering and product resources Impact: Would influence the scale and phasing of our approach