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features

IHRSA UPDATE: Randi Zuckerberg on how Facebook came to be worth $200bn

Patricia Amend takes a look back at the 2016 IHRSA Annual Convention & Trade Show

Published in Health Club Management 2016 issue 5

IHRSA’s 35th Annual International Convention & Trade Show was held on 21–24 March in Orlando, Florida, US, attracting visitors from around the globe – approximately 6,500 attendees, representing 81 countries.

The event featured four highly engaging keynote speakers; a menu of 150 educational seminars, roundtables and networking events that were organised into 11 targeted themes; annual events, including the IHRSA Financial Panel and the Women’s Leadership Summit; special sessions such as the Global Leadership Summit; a variety of receptions and social events such as Augie’s BASH; and thousands of product demonstrations and in-depth conversations on a bustling 470,000sq ft trade show floor, which played host to 415 companies from around the world.

Finding triggers, facilitating breakthroughs
The first day of the convention featured keynote speaker Jay Baer, an author and founder of strategic consulting firm Convince & Convert. Baer charmed the audience with some self-deprecating remarks about his plaid suit and pink tie, but quickly got down to business. His central point: “When you market, stop trying to be amazing and clever. Just be useful. Give people help, not hype.”

Among his many suggestions: identify what your customers want and exceed their expectations. Do rewarding things that they don’t expect. And give them ‘talk triggers’ – things they’ll share with their friends and family.

The following day, Greg McKeown – author and CEO of management consulting firm THIS Inc – opened his keynote by quipping that his father had hoped he’d become a barrister in his native England. Apparently, McKeown’s choice of writing and consulting wasn’t Dear Old Dad’s idea of success.

“Why is it that otherwise successful people or companies often fail to break through to the next level?” asked McKeown, introducing the topic of his best-seller, Essentialism. The reason, he said, is “the undisciplined pursuit of more”.

In fact, he explained, success can become a catalyst for failure because it tends to give people too many options. “The solution – the antidote – is the disciplined pursuit of less, but better,” McKeown urged. “When you master that, you become an ‘essentialist’ – a person who concentrates on the essentials.

“Instead of trying to be everything to everyone, essentialists ask: ‘What’s the exact right thing for me?’ They explore more and commit less.”

Tapping social media, creating habits
On Wednesday, Randi Zuckerberg – author of Dot Complicated and founder and CEO of Zuckerberg Media, a boutique marketing and production firm – also elicited chuckles at the outset of her keynote address. She noted that, while she finished her degree at Harvard University, her now-famous younger brother, Mark – the co-founder, CEO and chair of Facebook – didn’t.

Zuckerberg also mentioned that she’d had doubts about working for what she called her brother’s “stupid company”, but eventually relented and went on to spend seven years with the firm.

One of the lessons offered by Facebook, which is now valued at US$200bn, is the importance of a creative culture, she observed. For instance, the company makes use of ‘hackathons’, during which staff are encouraged to pull all-nighters to develop pet projects that have nothing to do with their day jobs. “When you remove the fear of looking silly or stupid, you get people to generate their best ideas,” she said.

The final keynote speaker, on Thursday, was Nir Eyal – the author of business best-seller Hooked – who looked at the factors behind smartphones’ popularity, and what these can teach businesspeople about modern consumer behaviour.

Eyal identified and described the role that four key elements – triggers, action, reward and investment – play in forming a habit. The habitual use of a product or service, he explained to the audience, matters to the bottom line because it increases both a customer’s lifetime value and the company’s ability to raise prices, as well as boosting the product’s defensibility and making it harder for competitors to woo clients away. “By understanding the minds of our consumers, we really can design habits that improve peoples lives,” he said.

Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
Gallery
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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
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Ali Jawad

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Users can easily identify which facilities in the UK are accessible to the disabled community
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Jamie Buck

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We created a solution called AiT Voice, which turns digital data into a spoken audio timetable that connects to phone systems
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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
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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
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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
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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
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Sohail Rashid

The app is free and it’s $40 to participate in one of our virtual events
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
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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
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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
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Fitronics develop effective, user-friendly software for the sport, health and fitness industry to improve member ...
Preferred by some of the world’s finest hotels and resorts, Matrix offers an array of ...
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08-10 Oct 2024
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features

IHRSA UPDATE: Randi Zuckerberg on how Facebook came to be worth $200bn

Patricia Amend takes a look back at the 2016 IHRSA Annual Convention & Trade Show

Published in Health Club Management 2016 issue 5

IHRSA’s 35th Annual International Convention & Trade Show was held on 21–24 March in Orlando, Florida, US, attracting visitors from around the globe – approximately 6,500 attendees, representing 81 countries.

The event featured four highly engaging keynote speakers; a menu of 150 educational seminars, roundtables and networking events that were organised into 11 targeted themes; annual events, including the IHRSA Financial Panel and the Women’s Leadership Summit; special sessions such as the Global Leadership Summit; a variety of receptions and social events such as Augie’s BASH; and thousands of product demonstrations and in-depth conversations on a bustling 470,000sq ft trade show floor, which played host to 415 companies from around the world.

Finding triggers, facilitating breakthroughs
The first day of the convention featured keynote speaker Jay Baer, an author and founder of strategic consulting firm Convince & Convert. Baer charmed the audience with some self-deprecating remarks about his plaid suit and pink tie, but quickly got down to business. His central point: “When you market, stop trying to be amazing and clever. Just be useful. Give people help, not hype.”

Among his many suggestions: identify what your customers want and exceed their expectations. Do rewarding things that they don’t expect. And give them ‘talk triggers’ – things they’ll share with their friends and family.

The following day, Greg McKeown – author and CEO of management consulting firm THIS Inc – opened his keynote by quipping that his father had hoped he’d become a barrister in his native England. Apparently, McKeown’s choice of writing and consulting wasn’t Dear Old Dad’s idea of success.

“Why is it that otherwise successful people or companies often fail to break through to the next level?” asked McKeown, introducing the topic of his best-seller, Essentialism. The reason, he said, is “the undisciplined pursuit of more”.

In fact, he explained, success can become a catalyst for failure because it tends to give people too many options. “The solution – the antidote – is the disciplined pursuit of less, but better,” McKeown urged. “When you master that, you become an ‘essentialist’ – a person who concentrates on the essentials.

“Instead of trying to be everything to everyone, essentialists ask: ‘What’s the exact right thing for me?’ They explore more and commit less.”

Tapping social media, creating habits
On Wednesday, Randi Zuckerberg – author of Dot Complicated and founder and CEO of Zuckerberg Media, a boutique marketing and production firm – also elicited chuckles at the outset of her keynote address. She noted that, while she finished her degree at Harvard University, her now-famous younger brother, Mark – the co-founder, CEO and chair of Facebook – didn’t.

Zuckerberg also mentioned that she’d had doubts about working for what she called her brother’s “stupid company”, but eventually relented and went on to spend seven years with the firm.

One of the lessons offered by Facebook, which is now valued at US$200bn, is the importance of a creative culture, she observed. For instance, the company makes use of ‘hackathons’, during which staff are encouraged to pull all-nighters to develop pet projects that have nothing to do with their day jobs. “When you remove the fear of looking silly or stupid, you get people to generate their best ideas,” she said.

The final keynote speaker, on Thursday, was Nir Eyal – the author of business best-seller Hooked – who looked at the factors behind smartphones’ popularity, and what these can teach businesspeople about modern consumer behaviour.

Eyal identified and described the role that four key elements – triggers, action, reward and investment – play in forming a habit. The habitual use of a product or service, he explained to the audience, matters to the bottom line because it increases both a customer’s lifetime value and the company’s ability to raise prices, as well as boosting the product’s defensibility and making it harder for competitors to woo clients away. “By understanding the minds of our consumers, we really can design habits that improve peoples lives,” he said.

Sign up here to get Fit Tech's weekly ezine and every issue of Fit Tech magazine free on digital.
Gallery
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

The app is free and it’s $40 to participate in one of our virtual events
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