Mindbody Investing Heavily in Product and Technology to Power its Next Phase of Growth
Mindbody, the leading technology platform for the wellness industry, continues to make strategic investments in its core technology in addition to advancing its product development efforts in the face of an increasingly challenging business environment brought on by the coronavirus. The emphasis on product and technology is in line with Mindbody’s stated direction of being a product-led company.
Mindbody, which counts tens of thousands of customers in the fitness, beauty and wellness industries, is in the process of reimagining its core software platform to deliver additional value to the wellness businesses that rely on its integrated software and payments platform to run, market and grow their businesses.
Regina Wallace-Jones, who was recently promoted to senior vice president of insight and innovation, leads several critical areas that are powering Mindbody’s future growth.
“Our product and technology teams are hyper focused on delivering the best value and experience to the variety of customers we serve,” said Wallace-Jones. “We understand wholeheartedly that our customers’ success is our success. We are taking proactive steps to ensure they have the software tools and access to partnerships that will enable them to thrive in an unpredictable environment.”
In regard to cutting edge technology, Mindbody’s artificial intelligence and machine learning units are accelerating the build out of sophisticated recommendation engines that will extend Mindbody’s reach across the consumer marketplace. It will ensure the right inventory, accessed through the Mindbody app or Mindbody.io, gets recommended to the right consumer at the right time. The AI/ML teams will also deliver a lead management engine that supports wellness businesses in their challenge of identifying new clients for the purpose of unlocking growth.
Additional add-on products on the horizon include Insights, a real-time analytics and staff engagement platform for salon and beauty businesses that utilizes data to reveal operational efficiencies. The development of Insights came through the acquisition of ZeeZor, which occurred earlier this year. Current product Bowtie, which serves salon and spa customers, will be retooled so fitness customers can also take advantage of its automated, AI-driven virtual receptionist solution that intelligently creates new revenue opportunities.
Both products are seen as instrumental in creating high-value experiences for both wellness businesses and the clients they serve, especially in the current environment. COVID-19 has amplified the needs for wellness businesses to utilize technology and AI to create a more “touchless” journey for their customers.
Crucial to the development and execution of these projects is Mindbody’s commitment to a talented and dynamic workforce. It recently opened an office in India to assist in research and development, and promoted Alex Soria to vice president of data science. Soria and his team provide critical business analytics that inform the product roadmap, as well as insights into the success of the industry and the customers Mindbody serves.
Jaimie Fucillo has been promoted to vice president of global partnerships. Fucillo and her team will be focused on elevating the developer experience through an enhanced API platform that will allow prospective partners to engage faster and more efficiently than before. The API improvements will unlock a new wave of consumer and business partnerships, in addition to expanding Mindbody’s growing consumer marketplace.
“So much of what we do is guided by data-driven analysis, and Alex’s team has become an irreplaceable asset to the business with the market and product insights his team provides,” continued Wallace-Jones. “Jaimie and the partnerships team she leads create exceptional value for our customers, while deepening the Mindbody brand on a global scale.”