Project brief
A new financial product to support Amazon sellers and help them grow
Amazon shortlisted several companies, and I teamed up with YouLend's CCO Jakob Pethick and Head of Commercial Andy Quach to complete the RFP. Our goal was to present a compelling prototype showcasing our proposal.
With great anticipation, we were delighted when YouLend won the pitch and was selected for an exclusive partnership with Amazon.
Challenges
The main challenge was adapting our traditional cash advance into a Line of Credit tailored for Amazon sellers
Amazon's research revealed that their customers were more likely to need a product that featured line of credit benefits, allowing access to funds as needed.
The biggest challenge was to create a brand-new product with these characteristics specifically for Amazon sellers, by adapting our existing traditional cash advance product into a Line of Credit (LoC) product, which we named the Flexible Financing Line.
Another significant challenge
was the tight timeline
We needed to develop and test this new product quickly. We started working on the new product in April 2023 and aimed to be ready for launch by July 2023.
This required us to revisit the entire product design and ensure it was thoroughly tested with real users before launch.
Approach
We divided the project into two phases
The first phase focused on the account management aspect of the new product, addressing the daily tasks and needs an Amazon seller would have when using this product.
We planned to address the application process later. Our objective was to quickly assemble a testable experience to allow for multiple iterations before the launch, knowing our reputation with Amazon was on the line.
The Dashboard
How can we design a product that instantly meets user needs?
We highlighted the outstanding balance and total available funds in a visual yet simple way, placing this information prominently at the top of the dashboard.
We made the "Make a Withdrawal" button the primary action, placing it just below the available funds block.
Below the withdrawal button, we included a table summarising essential numbers needed by the seller, ensuring transparency even if some information seemed redundant.
Transaction history
We designed a transaction log that included all financial transactions such as withdrawals and repayments
This element was crucial for transparency and helped customers feel in control.
Withdrawal Flow
We leveraged the same user experience we had recently launched for the traditional cash advance product for selecting the funding amount
This experience, which used a checkout pattern, had performed well in previous tests.
However, including repayment plans for Amazon's Flexible Financing Line proved too complex and would have delayed the product's release. In agreement with Amazon, we standardised and simplified the repayment plans to have one plan for all users.
Usability Testing
Our primary focus was on the dashboard experience, specifically assessing users' understanding with minimal information provided
We conducted unmoderated usability tests using a Figma prototype on UserBrain. Participants were tasked with completing the application process and making withdrawals, recording their experiences through screen recordings. They provided feedback on various aspects of their experience, including likes and areas for improvement.
To ensure an iterative approach, we divided the test into segments with two participants per iteration. After each test, we analysed the results and made adjustments to enhance the experience for subsequent sessions.
The UX research revealed no significant usability issues
Participants appreciated the easy navigation and user-friendly experience.
Better taxonomy
However, there were areas of confusion. We refined the terminology to ensure consistency, clarity, and meaningfulness. For example:
"Fixed fee" became "Withdrawal fee"
"Total to repay" became "Total due for this withdrawal"
"Repayment plan" became "Next repayment"
"% of your future daily sales" became "% of your next Amazon payout"
Improving the Transaction History
One particular confusion arose when participants mistakenly associated "Available credit" with total Amazon revenue
To address this, we decided to exclude the available credit amount from transaction records, as it was unnecessary. We also introduced the repayment rate for each repayment in the transaction history to improve understanding of the repayment process.
Next Repayment Component
Users expected to access "next repayment" information
Providing details about upcoming repayments enables customers to plan ahead. Although we couldn't provide precise numbers or dates due to varying repayment terms, we introduced an element that resembled "next repayment" information. This approach improved general comprehension and gave users a greater sense of control.
Fluctuating Rates and Fees
Participants expressed confusion when the repayment rate changed unexpectedly
The repayment rate and fees were variable, based on a complex algorithm considering the amount withdrawn so far, the amount selected for the current withdrawal, and the amount repaid so far.
To address this, we made these changes explicit on the review screen and in the withdrawal selector, using appropriate indicators, dialog boxes, and info messages. This reduced frustration and scepticism significantly.
Further Testing
Through several cycles of design, test, evaluate, and repeat, we refined the account management experience
Over time, we noticed fewer major issues. However, transparency around fees and how they were calculated still had room for improvement.
The information provided by Amazon at that stage was insufficient to answer all customer questions. To optimize sign-ups and marketing efforts, we needed to include all essential information on a landing page between lead generation and the application process.
The messaging
Our research and surveys confirmed that a LoC product matched Amazon sellers' needs
The main benefits of a LoC product for ecommerce sellers include:
Flexible access to money
Access to a pre-approved lump sum
Ability to withdraw and repay any portion as needed
Paying interest only on the amount borrowed
But we took into consideration another aspect. the LoC it's not just about practical benefits – we believe the LoC solution has a positive impact on how people feel too.
It's like a safety net that makes businesses feel better and more confident, knowing they have something to fall back on. This helps them alleviate concerns and operate with increased confidence.
We brainstormed for a headline that fit well into the journey
Despite having a few good options, we needed something more direct
Our final main message was: "Access funds quickly whenever you need them." We complemented this with: "Pay only for what you use. Give your business peace of mind with financial backup and flexible payments."
The Hero Block
We realised the hero block was too crowded with information
Initially, we tried to reuse what we had designed for YouLend's Cash Advance product. However, after the first round of tests, we realised the hero block was too crowded with information.
We did an impression test by showing the hero for a limited time, followed by questions recalling what participants had seen. Testers could remember bits of info but were cognitively overwhelmed.
We reorganised the information architecture, added more white space around key elements, and implemented clearer divisions between different concepts
This intervention helped participants readily grasp the value proposition. We included core messaging in the hero section and an animation showcasing various ecommerce personas using the Amazon line of credit. Real quotes from testers proved effective, as customers tend to empathise with stories.
Unique Selling Points
Below the fold, we added the three main benefits valued by our ecommerce customers, followed by a conversational paragraph addressing recurring questions and doubts from our interviews and tests.
Improving Inclusivity and Comprehension
Explaining the Amazon Flexible Financing Line clearly to a diverse audience was challenging
Despite numerous copy revisions, the less savvy segment still experienced confusion.
We introduced complex concepts in a friendly and visual manner, breaking them into smaller bits with animated infographics. We iterated on the copy, design, and infographics until comprehension was as inclusive as possible.
Trust and FAQ
We included elements to build trust, such as Trustpilot badges, testimonials, and a FAQ section for additional information Amazon sellers might need.
The application journey for the Amazon financial line was similar to YouLend's Cash Advance process, with small adaptations
Customers submitted an application, received an approval email, reviewed the offer, accepted the terms, and signed a contract. However, Amazon's requirements complicated the experience.
From a customer's perspective, accepting the terms twice was unnecessary and strange. Many testers were confused by the experience, causing them to lose trust.
Streamlining the Application Process
We streamlined the process by sending an email with all the offer details, allowing customers to accept terms without logging in
Instead of forcing customers to sign in to our platform to accept the terms, we modified the email to include all the offer details directly.
We created a call to action "Accept terms on Amazon" which directed customers to a YouLend url that was processing their acceptance automatically using Url variables, update their application status, and then redirect them to Amazon to log in and accept the terms there.
This cut one whole friction point, making it seem like customers only needed to review and accept terms once
Refinement and Testing
We ran several iterations of design, test, evaluate, and repeat using unmoderated usability tests on Maze and UserBrain
The streamlined application process showed a higher completion rate and positive indicators in qualitative observations.
However, many aspects still had room for improvements. For instance, the copy in the “accept and review” email could have been clearer, as a small minority didn't realise the process wasn't finished yet.
Additionally, some participants mistakenly associated Amazon's presence with limited fund usage, which wasn't the case.
Impact
£1.8M funded in the first 6 weeks
Regrettably, we couldn't launch the new product by July as planned, and the launch was delayed by a month.
However, the initial results were very promising. Within the first six weeks, we funded £1.8M, and in just the first two weeks, we generated over 1000 leads.
The design work played a significant role in this initial success, but these impressive results were due to a combination of factors. Amazon's extensive marketing efforts and the dedicated work of YouLend's operations and production teams were crucial in achieving these milestones.
