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The global fitness industry is growing at a meteoric rate. Recent reports put the industry's size in the vicinity of $87 billion per year and still climbing. This growth is fuelled by people's commitment to health and fitness.
While that commitment is nothing new, the way people are training has changed significantly - and even more so in the last decade.
Technology has changed the way people live their lives, be it socializing or working; it has also affected how they stay healthy through diet and exercise. As a result, the digital fitness market is thriving and ripe for your gym to capitalize.
This article will explore the digital fitness market revolution in greater detail. Here is what you can expect:
- What is the digital fitness market
- How the fitness industry changed and why your gym needs to pivot
- The age of convenience
- Data, data, data!
- Building a community is crucial
- Consumers are driving the digital fitness revolution
- Digital experience matters
- Turn members into marketers
Let's jump right in!
Source: Unsplash
What is the digital fitness market?
You might find yourself wondering - just what is the digital fitness market? Although it might seem like a relatively new term, insiders have been using it for some time to explain the change that has occurred within the industry.
In a nutshell, the digital fitness market is the marriage of technology and digital applications into health and fitness.
New technology such as wearables, smartwatches, and smart wear (like biometric shirts, leggings, etc.) forms part of this digital fitness industry.
Big-name brands like Peloton and Nordic Track are leading the way with smart fitness tech that powers their company growth. Peloton alone has had over $1,1 billion (yes, that's with a B) in revenue in the first quarter of 2022 alone!
And this wave isn't just limited to fitness brands. Mega companies such as Apple and Samsung are capitalizing on this opportunity with smartwatches and other fitness tracking technology.
This revolution is a massive opportunity for your gym. Society's adoration for fitness and growing reliance on technology will continue to drive the digital fitness landscape.
Your business can reap the rewards of this growing movement by acting now. Failure to do so will see your members jump ship to more digital-friendly establishments.
The next section will explore how the fitness industry has changed over the past few years and why this change is significant for your business.
How the fitness industry has changed and why your gym needs to pivot
One thing is for certain, technology has changed how people live their lives. The world is a better place due to the technology that is at our disposal. Daily life is much simpler now because technology makes things easier for us. While this is true, technology has undoubtedly changed many things in the world.
In this section, we will take a look at some of the most significant changes that technology has made to the fitness industry and why your gym needs to pivot to take advantage.
Data, data, data!
The fitness industry has worked together with technology for some time now. This relationship is true with most industries, but there have been some changes that are unique to fitness lovers and how they use technology.
The new generation of fitness enthusiasts are the most tech-savvy in history and are extremely data-driven.
So what does that mean?
In days past, a jog around town would be a nice way to keep fit and stay active. Tracking the distance was probably the only key metric that was measured for performance purposes.
However, with the advent of new technology, that same jog can now be analyzed on a granular level with varying data points.
Digital fitness technology like smartwatches or Fitbits can measure a joggers' distance, heart rate, step count, and even how many calories they've burned in that same exercise period. And people love it!
According to a Pew Research Center survey, around 1 in 5 Americans say they regularly wear a fitness tracker or smartwatch. This fascination with data and fitness metrics is not going away any time soon as technology becomes even more advanced.
As a gym owner, you need to ensure that your members have as much data available to them as possible.
There are many ways to do this successfully, such as integrating smart equipment, applications, and tracking. Providing these facilities will go a long way in convincing current members that your gym is the place to work out and entice new members to join.
PerfectGym offers a wide variety of hardware and 3rd party integrations that have been handpicked by some of the industry's most effective solutions on the market.
These solutions can integrate seamlessly with the PerfectGym software to make life easy and provide the best services possible for your customers.
Our integrations cover everything from biometric entrance with fingerprint technology, turnstiles, RFID & Barcode scanners, allowing you to understand your members exercise habits and easily identify the busiest times at your facility.
You can also offer your tech-savvy members equipment, app, and tracking integrations for performance measurement.
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Source: Unsplash
Consumers are driving the digital fitness revolution
Consumer's love for new technology has spurred on the digital fitness revolution. These technological advancements are coupled with a broader understanding of health and fitness benefits.
More people than ever before have taken an interest in their fitness and well-being. This interest drives fitness technology and the digital fitness market as a whole.
The rise in people's overall health awareness has increased their spending capacity. As we mentioned earlier, 20% of Americans wear a smartwatch or tracking device.
This willingness to spend big on fitness technology will continue to rise as more tech becomes available on the market. By the same token, more innovative technology is better educating people on the benefits of health and fitness, so the snowball gets bigger and bigger.
This consumer-driven behavior is music to the ears of any modern gym owner. Your customers should be at the forefront of any and all business decisions you make.
As such, technology must play an integral role in the overall experience for your members. Technology has the power to both personalize a members' experience and help them grow.
With the help of PerfectGym, you can make the overall experience of your members' an awesome one.
Our gym software provides an all-in-one solution that provides convenience for people from all walks of life. We have a range of features like the Mobile App that helps clients book their next class or manage their membership effortlessly.
We also integrate with a range of leading 3rd party solutions that can help members track and measure their performance easily.
The age of convenience
There is no dispute that technology has made us more impatient. With huge piles of data being computed in a matter of milliseconds, everything can be done much quicker and more conveniently.
This convenience has affected all facets of life, including how your clients work out and use your facility. In the past, customers had to rely on the front desk services to book their next class or make amendments to their gym membership.
This process worked but was hugely inefficient by comparison to today's standards.
Most modern gyms incorporate these services on their online platform or their own customized mobile app.
Take the PerfectGym Kiosk as an example. The Kiosk feature is an all-in-one self-service that allows members to create, manage, or update their membership-related tasks.
These services include online bookings, account management, online orders, and a host of other available features with a few clicks of a button. No longer does your customer need to stand in line and wait for the staff to become avaliable.
The modern fitness enthusiast wants all of that convenience to get the most out of their gym experience, with little downtime. You can automate many of these mundane tasks by providing these services online and focusing on winning new business through your marketing and sales channels.
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Source: Unsplash
Building a community is crucial
People all love to feel like we're a part of something bigger. The happiest employees in the workplace feel a sense of togetherness with the company they work for and their colleagues.
The same applies to gyms. Many gym-goers depend on the comradery amongst other members to stay on track and focused on their goals.
Previously, this motivation would only come from in-person interactions. A simple passing comment by another member or general positive reinforcement around the facility went a long way.
Nowadays, one need not only rely on face to face interactions to build a community. Online communities are a fantastic way for members to interact and provide words of encouragement or support.
A group mentality provides members motivation to press on and kick their fitness goals.
The digital fitness market provides opportunities for healthy online interactions amongst your members.
It is one of the most significant steps you can take to ensure member satisfaction and retention. Maintaining a member base that is both happy and motivated goes a long way to keep them working out at your gym.
Always remember that a happy customer is a loyal customer, so you need to take measures to keep it that way.
Digital experience matters
We find ourselves smack bang in the middle of the digital age, which means how your gym presents itself online is critical. Gone are the days of old school marketing techniques like print media or radio commercials.
These days, how your brand is positioned online makes a massive difference to your business's bottom line. A clunky website that is slow or difficult to use is an immediate deterrent for new customers.
To be successful, you need to provide an online experience that is seamless and easy to navigate.
This journey starts from the first time potential customers lay eyes on your brand online. Whether via your website, app, social media, newsletter or other email marketing campaigns, your game must be top-notch. Consistency is key.
It's the little things that matter for the digitally savvy consumer. Maintaining a consistent brand through design and messaging goes a long way in winning new business.
PerfectGym Automation and Marketing can help. Marketing automation is a powerful tool that enables you to maintain contact with your customers while also driving your brand and messaging home.
Send push notifications with words of encouragement, personalized promotional offers, or reminders about classes or bookings.
Communication is critical to maintaining member engagement and retention. If you do it well, you can keep members motivated and working out at your gym.
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Final word
The digital fitness market is here to stay.
As we've outlined in this article, rapid advancements in technology have been matched by people's understanding of health and well-being.
This momentum has culminated into a perfect storm of a digital fitness revolution.
Gone are the days of old-fashioned gyms and workout procedures. People are now hungry for convenience, data, a sense of community, and a positive digital experience.
At the end of the day, the consumer is the driving force behind the digital fitness market.
As a gym owner, you must always consider the needs of the digitally-savvy client to best appeal to them and get them training at your gym.
Get in touch with us if you want to learn more about the product features discussed in this article, or check out some of our other resources to learn more about the digital fitness industr