1. Younger generations are paying closer attention to what you offer.
It’s unanimous that Generation Y (Millennials) represent the biggest generation of health club members worldwide. Some interesting stats:
- Millennials represent 30 percent of all health club members.
- More than half use smart phones during exercise.
- On average, more than half of Millennials will reference four sources of information before making a buying decision.
- Millennials cite access to “group fitness classes,” “fitness professionals,” and “variety of equipment” as the primary reasons for maintaining the health club membership (note: “convenience” ranks higher with Baby Boomers than Gen X, Y and Z). Perhaps, this is a suggestion that convenience is now an expectation.
2. Motivation is the best amenity that you have to offer.
Across all generations, the number one reason for joining a health club was to “stay healthy.” Comparatively, only 1 out of 5 new members joined because of a specific health concern. Today’s health club members need not only cutting-edge equipment and programming, but also consistent motivation to stay the course. This objective is further accentuated by the fact that in the fourth quarter of 2011, 62 percent of new members have never been a health club member before.
As a club owner you must identify how you will offer motivation to your members. What will drive this motivation (programming, services, technology, tracking, etc.)? Can you organically accomplish diversity and offer motivation through each department of the club? Or, does it make sense to infuse a tool/device that can integrate across all departments?
One thing that all of these providers seem to agree on, is that to get participation your approach must be brutally simple and accessible. What these providers seem to disagree on, is which platform provides the most universal approach. Reflection point: Where is the threshold between accessibility (features) and loss of functionality (participation)?
Noteworthy categories worth checking out: heart-rate training technology, niche group fitness programming and integrated media platforms for cardio equipment.
You can find a list of the vendors at IHRSA here: http://www.ihrsa.org/trade-show/.
3. Technology is fragmenting the fitness industry.
During IHRSA 2013, I must have only managed to break away from my obligations for approximately 15 minutes — it was rumored to be the strongest attendance of all time. I spent that time doing something I always enjoy — walking the show floor. It was during this time that I got the opportunity to escape my product and see the industry through a broader lens.
As I walked the floor this year, I saw a lot of familiar products and services. There’s no doubt that the last few years have delivered an onslaught of technology solutions both provided by players big and small. But most of what I’ve seen in the past is each manufacturer unveiling its newest feature, which proclaims to set itself apart from the pack.
What I found unique this year was that many organizations are forging relationships with partners to create universal solutions for the end user, rather than creating their own proprietary solution. Slowly, manufacturers and service providers are making the transition to building integrated and agnostic products.
Garrett Marshall is the Business Development Director for Fitness On Demand. He can be contacted at 952.567.2710 or at sales@fitnessondemand247.com.
