In working with health, fitness and wellness companies, I wanted to immerse myself into the learnings of these business owners and franchisees – you know, practice what we passionately believe in – market intelligence.
Thank you to MINDBODY for hosting a user conference where you so eloquently engage your customers, offer hands-on assistance, ask for feedback on product experience, allow for customer voices to be heard, connect all attendees (customers, gurus, and newbies) via multiple networking opportunities, and lastly for providing a plethora of learning opportunities that can be directly applied to their clients’ businesses.
From the moment I entered the hotel, the BOLD Conference energy was electric, and never ceased over the 3 day conference. MINDBODY’s values were displayed in plain sight – depicted with bold, bright murals and at the interaction with each representative. It was evident that MINBODY cares about their customers and the overall health, fitness and wellness communities.
Sandwiched between keynote speakers, Kristen Bell and Rachel Hollis, were full days of impactful breakout sessions. In staying true to my mission of capturing industry insights and market intelligence, I focused on presentations such as State of the Industry – Transformation Trends and How to Leverage Them, Redefining the New Client for 2020 Beyond, and interviews/Q&A with leading boutique fitness studio brands and franchisors. Good news is, overall the Global Wellness Industry is booming; with $4.2 Trillion and growing.
After pages and pages of insightful notes, here are my top 5 key take-aways:
Fitness technology is a friend not a foe
– Online programming brings fitness to all, when and wherever they need it
– People are continuing to invest more and more in experiences – Gen Z and Millennials like variety – they don’t pick just one
– Studies show that customers who use on demand/online programming increase visits to in studio classes
Cross over modalities add to customer experience
– Do you know who your current customers are? – Go beyond their name – What is their favorite class time & instructor? Where are they coming from and where are they going after class? What are there nutrition needs/wants?
– What are your customers’ other interests? If you have a yoga studio (most popular group exercise) – offer more choices such as outdoor yoga, parent/baby classes, stress relief, nutrition class/coaching, or kickboxing class 1/week
– Be the place they return to – one stop for multiple interests
In-studio communities are crucial to retention and success
– Cultivation starts within the studio – Owner/teachers set the tone – introduce clients to each other
– Remember, we are all in the people business – people will go back to see friends and be with their communities
– Allow them to linger
Build a foundation for personalization
– Stand in the shoes of your persona(s) – Customer Journey – Map current touchpoints & look for potential unpredictable moments
– Motivation matters – Top reasons for exercising are different for various age groups – be specific on who is your customer demographic and what you offer related to their motivators
– Wellness is deeply personal – get to know your customers and your market challenges to deliver the right content, at the right time
Listen to your customers
– The best way to know what your customers want is to ask them. Direct feedback opportunities add more depth and understanding of the customer experience and fill in the gaps of what is missing.
– Would your customers recommend you? This is a great gauge for retention – if the answer is “I don’t know” – ask!
– Brand ambassadors = referrals – Take action on customer feedback and follow up with your customers.
This industry is a force to be reckoned with and is showing no signs of slowing down, and realistically these 5 topics cannot cover what the future holds; but….it’s a good place to start. Over here still reeling with excitement and welcome the opportunity to share more. If interested, reach out to chat.