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

Introduction

The trade-off question at hand is whether Modalku should prioritize expanding our loan product range or improving the user experience of existing offerings. This scenario involves balancing growth through product diversification against enhancing customer satisfaction and retention. I'll approach this analysis by examining the current product landscape, evaluating potential impacts, and designing experiments to inform our decision-making process.

Step 1

Clarifying Questions (3 minutes)

• Context: I'm assuming Modalku is a fintech company offering loan products. Could you confirm if this is correct and provide a brief overview of our current market position?

Why it matters: Establishes the baseline for our analysis Expected answer: Confirmation of fintech focus, possibly market leader or challenger Impact on approach: Influences risk tolerance and growth strategy

• Business Context: Based on our current growth trajectory, I'm thinking expanding our product range might be aimed at capturing new market segments. How does this align with our overall business strategy for the next 12-24 months?

Why it matters: Ensures alignment with long-term company goals Expected answer: Growth is a priority, but not at the expense of core business Impact on approach: Balances innovation with stability of existing offerings

• User Impact: Considering our user base, I'm assuming we have a mix of individual and business borrowers. Can you share which segment is currently driving the most revenue or growth?

Why it matters: Helps prioritize which user segment to focus on Expected answer: Business loans are the primary revenue driver Impact on approach: May lean towards improving UX for business customers first

• Technical Feasibility: Given our current tech stack, I'm thinking expanding our product range might require significant backend changes. What's our engineering team's capacity for taking on new product development versus optimizing existing systems?

Why it matters: Assesses technical constraints and resource allocation Expected answer: Limited capacity, team is focused on maintaining current systems Impact on approach: Might favor UX improvements over new product development

• Resource Allocation: Considering our current team structure, I'm assuming we have dedicated product and UX teams. How are resources currently split between new product development and UX improvement initiatives?

Why it matters: Identifies potential resource constraints or biases Expected answer: Resources are evenly split, but there's flexibility to reallocate Impact on approach: Informs feasibility of pursuing both options simultaneously