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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.
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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
Editor's letter

Into the fitaverse

Fitness is already among the top three markets in the metaverse, with new technology and partnerships driving real growth and consumer engagement that looks likely to spill over into health clubs, gyms and studios
Fit Tech people

Ali Jawad

Paralympic powerlifter and founder, Accessercise
Users can easily identify which facilities in the UK are accessible to the disabled community
Fit Tech people

Hannes Sjöblad

MD, DSruptive
We want to give our users an implantable tool that allows them to collect their health data at any time and in any setting
Fit Tech people

Jamie Buck

Co-founder, Active in Time
We created a solution called AiT Voice, which turns digital data into a spoken audio timetable that connects to phone systems
Profile

Fahad Alhagbani: reinventing fitness

Alexa can help you book classes, check trainers’ bios and schedules, find out opening times, and a host of other information
Opinion

Building on the blockchain

For small sports teams looking to compete with giants, blockchain can be a secret weapon explains Lars Rensing, CEO of Protokol
Innovation

Bold move

Our results showed a greater than 60 per cent reduction in falls for individuals who actively participated in Bold’s programme
App analysis

Check your form

Sency’s motion analysis technology is allowing users to check their technique as they exercise. Co-founder and CEO Gal Rotman explains how
Profile

New reality

Sam Cole, CEO of FitXR, talks to Fit Tech about taking digital workouts to the next level, with an immersive, virtual reality fitness club
Profile

Sohail Rashid

My vision was to create a platform that could improve the sport for lifters at all levels and attract more people, similar to how Strava, Peloton and Zwift have in other sports
Ageing

Reverse Ageing

Many apps help people track their health, but Humanity founders Peter Ward and Michael Geer have put the focus on ageing, to help users to see the direct repercussions of their habits. They talk to Steph Eaves
App analysis

Going hybrid

Workout Anytime created its app in partnership with Virtuagym. Workout Anytime’s Greg Maurer and Virtuagym’s Hugo Braam explain the process behind its creation
Research

Physical activity monitors boost activity levels

Researchers at the University of Copenhagen have conducted a meta analysis of all relevant research and found that the body of evidence shows an impact
Editor's letter

Two-way coaching

Content providers have been hugely active in the fit tech market since the start of the pandemic. We expect the industry to move on from delivering these services on a ‘broadcast-only’ basis as two-way coaching becomes the new USP
Fit Tech People

Laurent Petit

Co-founder, Active Giving
The future of sports and fitness are dependent on the climate. Our goal is to positively influence the future of our planet by instilling a global vision of wellbeing and a sense of collective action
Fit Tech People

Adam Zeitsiff

CEO, Intelivideo
We don’t just create the technology and bail – we support our clients’ ongoing hybridisation efforts
Fit Tech People

Anantharaman Pattabiraman

CEO and co-founder, Auro
When you’re undertaking fitness activities, unless you’re on a stationary bike, in most cases it’s not safe or necessary to be tied to a screen, especially a small screen
Fit Tech People

Mike Hansen

Managing partner, Endorphinz
We noticed a big gap in the market – customers needed better insights but also recommendations on what to do, whether that be customer acquisition, content creation, marketing and more
More features