Understanding Instamojo’s Product Offering by simulating Product Roadmap
Instamojo, India’s largest on-demand payments & e-commerce platform, that boasts of 250k+ sellers, 500k+ Product Links, 5k+ Stores, 2MN+ monthly reach, was initially launched as only on-demand payments platform on 24th April 2012. It has, since then, evolved into an e-commerce platform over next 5 years.
This is how it looked at launch :
It evolved over next couple of years adding more functional features & better user experience :
To become one of the cool kids of Indian Start-up world :
Instamojo started-off with a mission, to make it really easy to sell directly to your audience by promoting a link (a.k.a. imojo.in) via email, social networks, blogs, websites etc.
Vision : Instamojo was firm on releasing first version of product to an initial set of customers (that happened in just 3 weeks’ time) and then start iterating based on the feedback received in-house, existing customers. Initial plan was to build 80% of core product features and iterate those at supersonic speed.
- This was followed by technology decisions to help faster deployments and freeing engineering bandwidth. Once the product scaled to certain size, they moved over to AWS, being economical & reliable at the same time.
- From business point of view, they narrowed down the focus & made the decision making process simple. That helped create straightforward, no-nonsense, data-driven culture within organisation.
Building Product roadmap : Once an organisation is clear about its vision, it should also come up with Goals to achieve the said Vision. Product Manager who is responsible for converting those Goals into actionable business features, using Product Roadmap capability.
Instamojo relied heavily on past data to gather information about advice from industry experts, competitor’s products, market trend etc. All that data was converted into requirements that may be grouped together to build multiple functional capabilities. They had a strategy to define Product Roadmap by putting all the requirements into either of the following buckets :
Depending on impact analysis of each category to business plan/goal then, each of the feature requirements was prioritised in Roadmap. Initial product roadmap (for first couple of years) must have looked something like this :
Initial Product Roadmap was updated at usual intervals based on inputs received from stakeholders or customers.
Once the product is released to customers, Product Managers should also validate it’s success by comparing Key Performance Indicators (KPIs) identified while creating Roadmap with data received from Product Analytics. Prioritising product roadmap based on impact analysis of features plays a vital part in success of your product.