Mindbody Capital
The project Mindbody Capital was an initiative I undertook to create the user experience for our clients in the fitness, beauty, and wellness sectors, providing them with seamless access to business financing. By leveraging information already in the Mindbody software, I was able to generate pre-approved offers, available directly on the client’s dashboard, making funding quick and hassle-free without requiring applications, credit checks, or interest—only a flat fee. The payment process was designed to be flexible and automatic, linked to daily sales, thus empowering businesses to invest in their future growth, whether it be hiring more staff, introducing new services, upgrading equipment, or opening new locations.
Role:
Product Designer
Responsibilities:
Product strategy, User research, Prototyping & Testing, Interaction & Visual design, Front-end development
Project Duration:
4 Months
The MindBody Capital Vision:
Our objective with MindBody Capital was to pioneer a net-new feature within the MindBody ecosystem, revolutionizing the way businesses could access and utilize capital. I envisioned a seamless, accessible, and user-centric platform that would empower our clients to invest in their businesses, whether for expansion, equipment purchases, or operational improvements.
Inspiring User-Centric Design:
Throughout this research journey, our focus was not only on understanding the competition but also on gleaning insights into user expectations, pain points, and preferences. By studying the best practices and innovations in the financial and lending industry, I sought to create an experience that would exceed our clients’ expectations while aligning with the core values of MindBody – accessibility, empowerment, and efficiency.
Research and Inspiration:
Exploring the Landscape:
In the pursuit of creating a revolutionary feature, MindBody Capital, I embarked on a comprehensive research journey to understand the financial and capital lending landscape. This venture involved analyzing various competitors, both within and beyond the wellness and fitness industry. I cast our net wide, examining financial institutions, online lenders, and emerging fintech companies.
Learnings from Competitors:
Banking Giants: Traditional banks, known for their conventional lending practices, were a starting point. I delved into their loan offerings, application processes, and approval criteria to gain insights into industry norms.
Online Lenders: Fintech companies and online lenders like SoFi, LendingClub, and Kabbage provided inspiration in terms of digital lending experiences. I explored their user-friendly interfaces, seamless application journeys, and transparent fee structures.
Innovation Beyond Industry: Beyond the financial sector, I looked to innovative companies like Shopify and Square, known for transforming industries. Their approaches to business financing and capital solutions offered valuable perspectives.
Concept Development:
I began by outlining the different versions and phases required for Legacy and TNMB platforms. From there, I brainstormed design ideas and sketched out wireframes for each version. The design direction chosen was a grid layout view of the additional services, with a description of what each service offers. At the top, I incorporated a carousel of hero images featuring various Mindbody Capital services.
Design Execution & Iterations:
I executed the design by incorporating the Parafin widget for both single and multi-location businesses in the Legacy version and TNMB Phase 1. For TNMB Phase 2, I focused on developing a Mindbody-exclusive design, ensuring a consistent and cohesive user experience across platforms. The final design included a responsive layout, clear navigation, and informative content about Mindbody Capital’s offerings.
User Experience (UX):
The user experience was a critical aspect of this project. I aimed to create a seamless and intuitive interface for customers to learn about Mindbody Capital and access the service easily. By incorporating clear navigation, responsive design, and informative content, I ensured users could quickly find what they were looking for and feel confident about the services offered.
Dashboard:
Offers a consolidated view of multiple funding offers simultaneously, making it a versatile tool for businesses operating across various locations. This platform not only enables viewing of individual offers but also provides an exhaustive presentation of the offer details, delivering all the required information at the user’s fingertips. To enhance user experience and promote transparency, I also integrated an FAQ section at the bottom of the dashboard, addressing common questions and providing additional clarity about the offers.
Capital Details:
The team integrated functionalities enabling clients to easily view their offer details and execute payments directly in the software. I developed a feature for tracking transaction history, which provides clients a comprehensive view of their financial status, thereby supporting them in achieving their business financial goals.
Project Outcomes and Metrics:
The successful integration of Mindbody Capital into both Legacy and TNMB platforms resulted in increased user engagement and customer satisfaction. Businesses found it easy to access and learn about Mindbody Capital, leading to increased adoption of the service.
Lessons Learned and Future Improvements:
Throughout the project, I learned the importance of catering to different platform versions and user needs. Adapting the design to suit single and multi-location businesses and incorporating the Parafin widget were crucial for a successful outcome. In the future, I will continue to monitor user feedback and metrics to identify potential improvements and further enhance the user experience for Mindbody Capital.