We’ve compiled the areas to keep an eye on in the coming year for savvy fitness business owners. In our e-book, we’ll explore automations, industry inspiration and schedule customization and more.
Business is booming in the fitness and wellness industry, and examining what worked in 2019 helps predict what we’ll see in 2020. Read a preview of our 2020 fitness trends e-book below and download to get all the trends instantly.
Trend: Automated technology is gaining strength
Automation frees up time and can help maximize revenue, allowing fitness businesses to thrive.
Tech to save time
If you’re running a fitness or wellness venture, you’re likely always on the lookout for ways to optimize your most precious resource — time. The past year saw an influx in automations to make life easier and more efficient for business owners in the health and wellness industry. Especially for small business owners doing it all themselves, or with a small team, the need to automate has become clear. Automating technology takes the strain out of everyday tasks — from facilities management to operations and marketing.
ClassPass has introduced SmartTools to automate and optimize tedious tasks for partners. SmartSpot is ClassPass’ intelligent spot management tool, designed to help studio partners fill spots they are not likely to fill on their own. It looks at a studio’s fill history and real-time reservations to predict the spots they are not likely to fill directly and automatically lists them with ClassPass. To read more about one studio’s experience with SmartSpot, check out this Q&A.
Tech for revenue optimization
Dynamic pricing has become more widespread in the fitness industry — and for good reason. Another aspect of ClassPass SmartTools, SmartRate uses the power of machine learning to dynamically price classes automatically. SmartRate was designed to help maximize studio revenue by dynamically pricing class spots. By charging users less for low-demand spots and more for popular ones, SmartRate aims to drive reservations to less popular spots and earn partners more overall — an automation meant to make this admin task a thing of the past.
Trend: Learn and grow by noticing wins in similar industries
Inspiration can come from anywhere and strike at any moment. Exploring successful practices from other fields can help the fitness industry innovate and grow.
Delight more customers, make more money
Applying learnings from other industries can help fitness studios and gyms improve the member experience and generate more revenue. By learning about how to connect and engage with customers online from best in class retail brands and about how to implement pricing strategy from top hotel and airline businesses, the fitness industry will be able to make significant strides.
Crossover highlight: retail and e-commerce
Discovering and attracting new customers is key for the growth and longevity of any business. Leading brands in the consumer retail business do this particularly well — they leverage engaging content and powerful technology to create personalized user experiences. Like fitness businesses, retail businesses often have both online and offline presence and need to maintain brand standards and keep customers engaged across both.
Use personalization to maximize your digital marketing
Retail marketing has come a long way in recent years thanks to advancements in advertising, web, and email marketing technologies. Advertising technology has made advancements to the point where you can target users based on very detailed parameters and re-target visitors to your site when they do not convert. Modern web technologies can use cookie data and artificial intelligence (AI) for real-time personalization — in other words, digital marketers can now promote the right product to the right user at the right time. Email marketing can be automated so that customers are reminded of important events and so brands can send special promotions.
Remove friction to propel business
An example of email marketing automation that has been particularly effective in retail is the “abandoned cart flow,” which involves using interaction data to trigger an email when a customer leaves items in their virtual shopping cart or starts the buying process but does not complete it by making a purchase. Advancements in online payments also allow for a shorter, lower-friction digital funnel so customers can pay more quickly and securely. Retail marketers have also become more clever in regards to social media strategy — they partner with other like-minded brands for giveaways and work with micro-influencers to create content relevant to specific audiences or markets. Overall, these technologies and strategies allow for advanced segmentation and personalization — increasing connection between brands and buyers.