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Editor's letter: Monetising digital

Having made a lightening fast pivot to digital during lockdown, gym operators are now figuring out how to optimise the assets they’ve invested in – it’s time to monetise digital and find ways to create hybrid models

Published in Fit Tech 2020 issue 2

Fit tech saved many gym and health club businesses during lockdown, by keeping operators engaged with members and members engaged with exercise.

Now the challenge is figuring out how to shape digital going forward – whether to walk away and refocus on the bricks and mortar business or to continue to invest and fully integrate digital into the business model.

The opportunity is turning into a major land grab and it seems all suppliers that can engineer a digital bolt-on to their base business are doing so, from aggregators to management software companies and from equipment suppliers and consumer electronics giants to content providers.

One thing is certain – operators have a wealth of options – the bottom line is how much consumers are prepared to pay.

Recent research in the UK by mystery shopping specialist, Proinsight, found a direct correlation between the mystery shopper score of online workouts, the intensity of the class and the amount consumers would be prepared to pay for it.

Deploying mystery shoppers wearing Myzone belts, Proinsight assessed a wide range of online classes by measuring three key metrics; heart rate, calories used and intensity (measured in MEPs or Myzone Effort Points – a measure of output).

The classes that scored best had an average intensity of 198 MEPs per hour, while those that were least popular had an intensity of only 142 MEPs per hour, indicating that some consumers value classes more when they are inspired to work harder.

Average heart rate increases and calories burned also correlated with mystery shopper scores, with those in the top quartile being +16 bpm and +161 calories burned.

Importantly, Proinsight found people are prepared to pay more for highly valued classes. The average that mystery shoppers were willing to pay for the content was £15/month, while for classes in the top quartile, they were (on average) willing to pay £4.73 more than those in the bottom quartile.

As businesses develop hybrid offerings, consumer insight such as this is vital to guide investment decisions, with a huge need for it to be hyper-local and calibrated for age, wealth, class type and fitness levels.

Digital also gives deep insights into what consumers want, guiding overall direction.

Liz Terry, editor, Fit Tech
[email protected]
@elizterry
Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
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features

Editor's letter: Monetising digital

Having made a lightening fast pivot to digital during lockdown, gym operators are now figuring out how to optimise the assets they’ve invested in – it’s time to monetise digital and find ways to create hybrid models

Published in Fit Tech 2020 issue 2

Fit tech saved many gym and health club businesses during lockdown, by keeping operators engaged with members and members engaged with exercise.

Now the challenge is figuring out how to shape digital going forward – whether to walk away and refocus on the bricks and mortar business or to continue to invest and fully integrate digital into the business model.

The opportunity is turning into a major land grab and it seems all suppliers that can engineer a digital bolt-on to their base business are doing so, from aggregators to management software companies and from equipment suppliers and consumer electronics giants to content providers.

One thing is certain – operators have a wealth of options – the bottom line is how much consumers are prepared to pay.

Recent research in the UK by mystery shopping specialist, Proinsight, found a direct correlation between the mystery shopper score of online workouts, the intensity of the class and the amount consumers would be prepared to pay for it.

Deploying mystery shoppers wearing Myzone belts, Proinsight assessed a wide range of online classes by measuring three key metrics; heart rate, calories used and intensity (measured in MEPs or Myzone Effort Points – a measure of output).

The classes that scored best had an average intensity of 198 MEPs per hour, while those that were least popular had an intensity of only 142 MEPs per hour, indicating that some consumers value classes more when they are inspired to work harder.

Average heart rate increases and calories burned also correlated with mystery shopper scores, with those in the top quartile being +16 bpm and +161 calories burned.

Importantly, Proinsight found people are prepared to pay more for highly valued classes. The average that mystery shoppers were willing to pay for the content was £15/month, while for classes in the top quartile, they were (on average) willing to pay £4.73 more than those in the bottom quartile.

As businesses develop hybrid offerings, consumer insight such as this is vital to guide investment decisions, with a huge need for it to be hyper-local and calibrated for age, wealth, class type and fitness levels.

Digital also gives deep insights into what consumers want, guiding overall direction.

Liz Terry, editor, Fit Tech
[email protected]
@elizterry
Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
More features

Create your own energy

A breakthrough in technology means wearable devices and other health and fitness products could soon be self-powered. Steph Eaves talks to Dr Ishara Dharmasena to find out how this could impact health and fitness
interview

Daniel Sobhani, Freeletics

Our company vision is to challenge and inspire people to become the greatest version of themselves. And I firmly believe that this can be achieved through what we do

Fighting COVID-19

In the aftermath of the pandemic, people will be more aware of the importance of their health and the strength of their immune system. Can fit tech alert users to potential immunodeficiencies or symptoms? And might these products assist governments? We asked industry leaders for their predictions
interview

Paul Bowman, Wexer

The future of fitness is hybrid, says the CEO of Wexer. He shares his thoughts on why and how the industry should embrace this change
interview

Sharon Hegarty, Samsung

We envisage a world where someone’s smart home can support their fitness regime
people

Patrick Lucey

VP of AI, Stats Perform
We can capture tracking data from historical videos, enabling us to do large scale comparisons of players, such as Michael Jordan, across eras
interview

Will Ahmed, Whoop

Whoop is taking wearable technology to the next level, providing deeper insights into individuals’ physiology and enabling optimised training. Founder and CEO Will Ahmed talks to Steph Eaves about the importance of personalised feedback
Editor's letter

Monetising digital

Having made a lightening fast pivot to digital during lockdown, gym operators are now figuring out how to optimise the assets they’ve invested in – it’s time to monetise digital and find ways to create hybrid models
people

Richard Hanbury

Founder and CEO, Sana
I was in Yemen, close to the capital, Sana’a, when I had the accident that put me in a wheelchair and gave me a chronic nerve damage pain problem. This led me to develop the underlying technology of Sana
interview

Digital ecosystem

The digitisation of the sector was going to happen anyway. COVID-19 has simply accelerated the digital transformation

Functional wearables

A new ultra-thin, stretchable electronic material could be a game changer for wearable tech
interview

Forme Life: Trent Ward & Yves Béhar

I think the big ‘a-ha’ moment was when we had the idea that a mirror would be the best way for somebody to learn
Core Health & Fitness
Core Health & Fitness