Should iKhokha prioritize adding new features to attract merchants or focus on improving existing functionality for current users?

Introduction

The trade-off question at hand is whether iKhokha should prioritize adding new features to attract merchants or focus on improving existing functionality for current users. This scenario presents a classic product management dilemma: balancing growth with user satisfaction. I'll analyze this trade-off by examining the current product landscape, potential impacts, and data-driven decision-making processes.

Step 1

Clarifying Questions (3 minutes)

• Based on iKhokha's market position, I'm thinking we might be in a growth phase. Could you share our current market share and growth targets for the next 12-18 months?

Why it matters: Helps determine if we should prioritize acquisition or retention Expected answer: Aggressive growth targets, aiming to double market share Impact on approach: Would lean towards new features for merchant acquisition

• Considering our revenue model, I assume we have a transaction-based pricing structure. Can you confirm if this is correct, and if there are any other significant revenue streams?

Why it matters: Influences whether we should focus on increasing transaction volume or diversifying revenue Expected answer: Primarily transaction-based, with some subscription elements Impact on approach: Might suggest a balanced approach between new features and existing functionality improvements

• Looking at our user segments, I'm curious about the churn rate among our current merchants. Do we have data on merchant retention and the main reasons for churn?

Why it matters: Helps assess the urgency of improving existing functionality Expected answer: Moderate churn rate, with usability issues cited as a common reason Impact on approach: Could prioritize improving existing features to reduce churn

• Regarding our technical infrastructure, I'm wondering about our current system's scalability. How easily can we integrate new features without disrupting existing services?

Why it matters: Determines the feasibility and timeline for adding new features Expected answer: Modular architecture allows for relatively easy integration Impact on approach: Might favor a phased approach, gradually introducing new features

• Considering resource allocation, I'm interested in our current team structure. Do we have separate teams for new feature development and maintenance of existing features?

Why it matters: Influences how we can distribute efforts between new and existing features Expected answer: Small, cross-functional teams that handle both aspects Impact on approach: Might suggest alternating sprints between new features and improvements