Instamojo- Product Road Map
Instamojo is a Bangalore-based company that is targeted to selling digital goods & collecting payment online. It is a digital payments platform bundled with tons of e-commerce features to enable any business or individual to sell, manage & grow effortlessly, securely and cost-effectively.
Instamojo was released to market in April 2012 as a Private beta product with subscription based on invitation only. Due to popular demand they went public in July 2012 . They focused on selling tangibles, they plan to open doors to the sale of digital products like e-books, music, videos, reports, photographs, blog posts etc. They built their platform on existing financial infrastructure of bank accounts, credit cards or other digital payment instruments to create a pervasive & persistent real-time payment solution. ave positioned themselves as the “simplest payment solution” by providing access on web & mobile for all sellers and by boosting time to market for small businesses to sell & collect payments, manage easily & grow rapidly.
In this article, we are going to dive into the product roadmap of Instamojo of early stage and next 2 to 3 quarters.
For the initial design, we can assume that basic workflow was modeled which includes seller and the buyer side.
Seller side: An individual seller discovers Instamojo, creates an account, hosts his creative content, sets a price for sale, shares the information with his potential target market. Once the sale is completed Seller gets the money the buyer paid to procure the goods.
Buyer Side: Buyers can check the products and view the seller’s profile, buyers can buy and make payment, buyers get access to the digital goods, buyer receives confirmation of the payment, invoice is delivered.
So, in the 3 quarters to split and prioritize the work, it is essential to identify a time frame for every feature. This is done through product road map. Before we develop a road map it is essential to prioritize the features. This prioritization is done keeping the business and user requirements in mind. Develop features planned for the MVP and then later build additions or improvements based on feedback, requirements.
An example Product road map for a quarter looks like this. It includes milestones, epics and user stories that define the scope of a release.
This way the product manager segregates features based on priority to enable teams to be working on a focused deliverable towards the end of a quarter.
In the last couple of years, Instamojo’s roadmap dealt with maximizing metrics through feature launches. Some of the major launches include their app launch on App store- which gave them an edge in building a mobile platform, Instapay. They have also revised their strategy to increase their footfall in enabling 3rd party integrations and making their APIs public for others app to integrate with them.
In the near future, we can anticipate InstaMojo to increase their footfall beyond India and into the world. This could be by building app on different platforms, allowing recurring payments, personalized reminders and notifications etc.
Instamojo’s vision is to help SMBs to start their business with limited resources, limited technology knowledge, no company registration and more over receive payments to bank accounts within 3 working days.
Over the years we’ve seen them grow from a mere selling company for digital goods to becoming a standardized e-commerce industry with the easy payment methods and solutions.