Should Julo prioritize expanding our loan product range or improving the user experience of existing offerings?

Introduction

The key trade-off we're examining is whether Julo should prioritize expanding our loan product range or improving the user experience of existing offerings. This decision is critical for Julo's growth strategy and customer satisfaction. I'll analyze this trade-off by examining our current product landscape, potential impacts, key metrics, and experimental approaches to inform a data-driven recommendation.

Step 1

Clarifying Questions (3 minutes)

• Business Context: I'm thinking our revenue model might heavily influence this decision. Could you share how our current revenue is split between existing products and any new offerings we've recently introduced?

Why it matters: Helps understand the financial impact of focusing on existing vs. new products Expected answer: Majority revenue from existing products, but new products showing promising growth Impact on approach: Would lean towards improving existing offerings if they're the primary revenue drivers

• User Impact: Based on user feedback, I'm assuming there might be some pain points with our current user experience. Can you elaborate on the most common user complaints or areas for improvement in our existing loan products?

Why it matters: Identifies specific areas where UX improvements could have the most impact Expected answer: Issues with loan application process, repayment flexibility, or customer support Impact on approach: Would prioritize addressing these specific pain points in the UX improvement strategy

• Technical Feasibility: Considering our current tech stack, I'm curious about the complexity of integrating new loan products. How challenging would it be to add new loan types to our existing infrastructure?

Why it matters: Assesses the technical effort required for product expansion Expected answer: Moderate complexity, requiring 3-6 months of development time Impact on approach: Longer development time might favor focusing on UX improvements in the short term

• Resource Allocation: Given our current team structure, I'm wondering about our capacity to handle both product expansion and UX improvements simultaneously. What's our current resource allocation between product development and UX design?

Why it matters: Determines if we have the bandwidth to pursue both strategies or need to choose Expected answer: Limited resources, team currently stretched thin Impact on approach: Might necessitate a phased approach, focusing on one priority first

• Market Demand: Considering recent market trends, I'm curious about the demand for new loan products. Have we conducted any market research on unmet customer needs or emerging loan types?

Why it matters: Gauges the potential success and necessity of expanding our product range Expected answer: Some identified gaps in mid-term loans or specialized loan products Impact on approach: Strong market demand might justify product expansion despite resource constraints