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2016 FIT-C Fitness Industry Technology Trend Report
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Transcript of 2016 FIT-C Fitness Industry Technology Trend Report
2016 FITNESS TECHNOLOGY TREND REPORTJoin today @fittechcouncil | fittechcouncil.org | [email protected] PLEASE CLICK AND SHARE
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join today @fittechcouncil | fittechcouncil.org | [email protected]
2016 FITNESS TECHNOLOGY
TREND REPORT
NAVIGATING TECHNOLOGY CHANGE IS HARD WORK. ARE YOU LOOKING FOR ANSWERS ? LET US HELP.
[email protected] | @FITTECHCOUNCIL
PLEASE CLICK AND SHARE
@IHRSA #IHRSA2016
@EUROPEACTIVE #EHFF2016
JOIN US AT UPCOMING GLOBAL EVENTS
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TABLE OF CONTENTS
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INTRODUCTION AND THANKS
DIGITAL MASTERS WILL EXCEL
ADOPTION OF TECHNOLOGIES IS LAGGING BEHIND
6 KEY CONSUMER TRENDS TO WATCH
THE MARKET IS GOING TO BE HUGE
FITNESS IS THE LARGEST SENSOR SEGMENT
SENSORS ARE PROLIFERATING AND COSTS ARE DROPPING
PLATFORMS ARE CRITICAL TO BETTER USE CASES
NEW DIGITAL BUSINESS MODELS HAVE ARRIVED
TOOLS THAT HELP EXISTING BUSINESS MODELS ARE AVAILABLE
CLOUD BASED SERVICES DELIVER SOLUTIONS AT LOW COSTS
PAYMENT TRENDS WILL CHANGE MONETIZATION
THE INTERNET OF EVERYTHING CREATES NEW OPERATING CAPABILITIES
ARTIFICIAL INTELLIGENCE WILL REDEFINE SERVICE AT SCALE
OMNI-CHANNEL DELIVERY IS A KEY TO SUCCESS
IMPORTANT UPCOMING GLOBAL EVENTS
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SUBJECT PAGE
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INTRODUCTION & THANKS
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Dear Fitness Professional;
Thank you for taking time to review the Fitness Industry Technology Council’s 2016 Fitness Technology Trends Report. Our thanks go to the 34 brands, professionals and associations who support the FIT-C, along with our dedicated board of directors. We encourage you to join us and become part of the movement by visiting www.fittechcouncil.org. We have entered a new era where the use of technology and greater collaboration will propel our industry to new heights, growing the marketplace by fueling new business models and ways of operating that enhance user experiences. Technologies predicted a few years ago have already exceeded expectations, and the surge of new technologies are already impacting the market. This trend will only continue.
The leadership of the FIT-C and its current board believe that thoughtful adoption of technologies needs to accelerate at a faster pace. We think that there is a need for greater collaboration among players in our industry space to unleash technologies for the benefit of all. These factors are necessary when considering the surge of disruption that is emerging. Failing to adopt at a more rapid pace and failing to work more closely together could result in impediments to our efforts to serve a surging market of customers around the globe. The opportunity is too great for us not to embrace this change technology is bringing.
We need your support, feedback and participation. This trend report has been compiled, along with our monthly newsletters, webinars and other content efforts, to educate and promote the mindful and collaborative adoption of technologies for everyone’s benefit in the industry. That is our mission. We hope to see you at the upcoming IHRSA 2016 and EuropeActive Forum In 2016. Please spread the word and share this content and your thoughts throughout your professional and social networks.
We wish you great success in 2016. If we can be of any help let us know and we hope to visit with you soon.
Sincerely,
Bryan K. O’Rourke President, FIT-C | [email protected]
FIT-C 2016 Board Members
Paul Lockington Kelly Card Michael Piermont Ted Vickey Dave Johnson Orange Theory Netpulse Amstatz FitWell EcoFit Networks
2016 FITNESS TECHNOLOGY TREND REPORT
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As “Leading Digital” Documents, Digital Masters Exceed Their Industry Peers On Average By 9% In Revenues And 26% In Profitability. Digital Masters Excel At Making Better Decisions About What Technology Initiatives To Pursue And Steering Those To Success. FIT-C Believes That Encouraging More Participants To Become Digital Masters Will Grow The Marketplace. Learn More At http://www.leadingdigitalbook.com/ .
THE MOST SUCCESSFUL FITNESS BRANDS WILL BE DIGITAL MASTERS
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BECOMING A DIGITAL MASTER TAKES NEW THINKING
1.Awareness 2.Starting Point 3.Shared Vision 4.Define Action 5.Build Governance 6.Fund Initiatives 7.Signal Ambitions 8.Earn Right To Engage 9.Evolve Culture 10.Build Skills 11.Align Rewards 12.Measure & Iterate
BECOMING A DIGITAL MASTER : 12 STEPS | FRAMING, FOCUSING, MOBILIZING, SUSTAINING
PROCESS OF ACHIEVING MASTERY
Digital Masters Tend To Follow A Logical Process That Takes Into Account Twelve Steps With Four Key Phases. Masters Follow This Plan To Conceive Of, Invest In, And Convert Their Organizations Into Ones That Succeed By Becoming Increasingly Digital. How We Think About And Adopt Technology Is As Important As The Technology Itself. Learn More At http://www.leadingdigitalbook.com/ .
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Digital Masters Operationalize Technologies Like Sensors Sooner Than Others. A Recent ACE Survey Of Fitness Professionals Showed Only 51% Felt Prepared To Answer Questions About Wearable Technology From Their Clients - 75% Of Whom Wanted Help.
ADOPTION OF NEW TECHNOLOGIES IS LAGGING BEHIND
• Innovation Trigger • Peak Of Inflated
Expectations • Trough Of
Disillusionment • Slope Of
Enlightenment • Plateau Of Productivity
GARTNER’S HYPE CYCLE REFLECTS ESTIMATED ADOPTION TIMELINESMARKET STAGES
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OBSERVATION
• Consumers Are Well Ahead Of Fitness Brands Abilities To Service Them Via Technology Like They Want.
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CONSUMERS ARE ALREADY CHANGING BECAUSE OF TECHNOLOGYThese Six Trends Are An Amalgamation Of A Variety Of Trends Around The Consumer. The Underlying Theme Is That Consumer Centric Value Propositions Influenced By Technology Are How Fitness Businesses Should Be Redefining Themselves For The Future.
• Better Experiences • Personalized Service • Higher Revenues • Longer Life Cycle
OUTCOMES
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UNDERLYING THEMES
• Mobile First • Omni-Channel • Consumer Choice • Convenience
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DIGITAL MARKETPLACE IS IN ITS INFANCY : MARKET IS HUGE
http://rockhealth.com/reports/digital-health-consumer-adoption-2015/join today @fittechcouncil | fittechcouncil.org | [email protected]
The Digital Delivery Of Fitness And Health Services Is Just Beginning. Most Researchers Agree That The Market Is Huge And That Adoption Is Set To Explode In The Coming Years. This Is Not Just For Fitness But For Medicine And Health Care In General As Well.
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FITNESS IS THE LARGEST CONSUMER SEGMENT FOR SENSORS
65% ACTIVITY 42% LOSE WEIGHT
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The Rise Of “Wearable” Sensors Is Mostly Driven By The Intent To Increase Activity And Lose Weight With The Majority Of Consumers Procuring Devices On Their Own.
http://rockhealth.com/reports/digital-health-consumer-adoption-2015/
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What represents fitness wearables today is morphing into a variety of other types of sensors including patches and tattoos, ingestibles, and clothing.
SENSOR DEVICES ARE PROLIFERATING2016 FITNESS TECHNOLOGY TREND REPORT
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SENSOR DEVICES ARE PROLIFERATING
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What Sensor Technology Represents Is Going To Only Be Limited By One’s Imagination. Current Applications Are Creating Solutions That Were Not Even Possible 24 Months Ago.
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DEVICES ARE COMMODITIZING WITH DECLINING PRICES
The “Peace Dividend” From The Smartphone Wars
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Intense Competition And Surging Production Of Things Like Smartphones Have Lead To A Hardware Revolution That Is Driving Costs Down Significantly While Enabling More Rapid Innovation And Product Prototyping. The Hardware Revolution Is Just Starting And The Proliferation Of Smartphones Is Further Enabling These Solutions To Become Very Robust. Learn More Here: https://trueventures.com/the-hardware-revolution-is-upon-us-and-why-it-matters/
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PLATFORMS ARE CRITICAL TO BETTER USE CASES
SUCCESS MEANS HELPING CUSTOMERS SOLVE THEIR PROBLEMS
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Demonstrating How Technologies Like Sensors Or Apps Can Be Incorporated Into A Platform Which Provides An Eco-System Addressing Customer Needs Is Key. Better Use Cases Help To Push Adoption Forward. There Are Several Thoughtful Solutions In The Marketplace Today That Offer Answers And Brands That Are Or Have Implemented Them In Health Care And Fitness.
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TECHNOLOGIES ARE CREATING NEW SERVICE DELIVERY MODELS
COMBINING TECH WITH HUMAN SERVICE TO MEET CUSTOMER NEEDS.
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New Business Models That Greatly Leverage Technology Are Entering The Marketplace, Providing High Levels Of Service At Low Costs. The Rise App Is An Example And Provides Personalized Coaching For Weight Loss Via Mobile Phone From A Nutrition Professional. These Solutions Both Threaten Existing Models While Opening Up Huge Potential To Grow The Marketplace.
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TECHNOLOGIES ARE CREATING NEW SERVICE DELIVERY MODELS
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PERSONAL TRAINING
Solutions, Like amSTATZ, Leverage Technology To Reinvent How Traditional Business Models Can Be Executed More Productively. This Allows Existing Business And Professionals To Take The Leap Into A New World Of Delivery Around The Customer.
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CLOUD BASED SERVICES DELIVER SOLUTIONS AT LOW COSTS
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APPS, WEARABLE ECO-SYSTEMS, AND ENTERPRISE SOLUTIONS ARE AVAILABLE
Solutions Like Netpulse Apps, MYZONE and ClubReady, Among Others, Provide High Quality SAAS Solutions To Meet The Needs Of The Industry At Affordable Costs Enabling Brands To Adopt Cutting Edge Solutions Without Large Capital Outlays.
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A SURGE IN NEW PAYMENT OPTIONS FOR CONSUMERS IS HERE
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NEW PAYMENT PARADIGMS WILL CHANGE HOW WE MONETIZE SERVICE
The Explosion Of Payment Alternatives Like Chase Pay, Apple Pay, And Others, Will Revolutionize How Consumers Pay For Service Creating An Array Of New Approaches To Monetize The Business Relationship And Enhance Convenience. Solution Providers Are Investing Significant Capital Preparing For These Massive Opportunities Which Will Require New Thinking In Payment And Monetization.
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THE INTERNET OF EVERYTHING IS CHANGING HOW WE OPERATE
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Low Cost Cloud Based Platforms And Sensors Will Change How We Monitor And Service Equipment, Conduct Marketing, And Manage Our Businesses In An Automated Fashion, Cutting Costs And Improving Quality. Vendors Like EcoFit Networks, Among Others, Are Delivering Technologies Today That Enable This Functionality. Learn More Here: https://youtu.be/8NGzrtK7eV0
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ARTIFICIAL INTELLIGENCE WILL REDEFINE HUMAN SERVICE
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IBM's Watson Computer Began Health Care Industry Trials This Fall. The Goal Is To Help Oncologists Make Better Decisions For Cancer Treatments; The System Will Eventually Aid In The Diagnosis And Treatment Of Other Chronic Diseases. Massive Computing Power, Evolving Machine Intelligence And The Proliferation Of Data And Devices Will Enable Things Like Cars And Service Delivery In A Variety Of Health And Fitness Applications To Be Autonomous And High Quality. While Humans Will Remain The Greatest App There Is , Business Models Using Intelligent Systems Like Watson Will Enable Highly Personalized Health And Fitness Coaching To Happen At Scale. Learn More Here http://www.fastcompany.com/3001739/ibms-watson-learning-its-way-saving-lives .
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OMNI-CHANNEL DELIVERY MODELS WILL EXCEL
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Leading Brands Are Embracing Technologies To Redefine Business Models By Moving From Single Channels Bricks And Mortar Alone, To Omni-Channel Experiences That Connect, Service And Support Customers Using Technology And Human Service Interfaces (Fitness 3.0). These Operators Will Likely Gain Significant Competitive Advantages Over Time If They Are Successful With Their Efforts To Become “Digital Masters”.
The Acquisition By Anytime Fitness Of PumpOne Exemplifies The Realization By Industry Leaders Of The Need For Omni-Channel Delivery.
Orange Theory’s Development Of Apps And Heart Rate Training Technologies That Work For Members Inside And Outside Of Their Studios Reflects Acknowledgement Of The Importance Of Omni-Channel As Well.
WELCOME TO FITNESS 3.0
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LIKED WHAT YOU READ ? JOIN US TODAY AND PLEASE SHARE.
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Last Year EuropeActive’s “Essentials Of Motivation & Behavioral Change For Fitness Health & Sports Professionals” Was Published With A Global Forum On The Subject At FIBO 2015. This Year EuropeActive Is Publishing “Growing The Fitness Sector Through Innovation” And Conducting A Forum On The Subject In Advance Of FIBO On April 7th-10th. FIT-C Contributes To These Publications Which Feature Explorations Of The Potential Of Technology With Practical Advice On How To Adopt Technology Innovation. We Thank Our Strategic Partners At EuropeActive and Our Friend And Associate Jan Middelkamp For The Collaboration. For The Latest Follow EuropeActive On Twitter.
AT IHRSA 2015 FIT-C Held A Standing Room Only Forum On Technology And We Are Doing It Again This Year. Please Join Us Along With Some Of The World’s Leading Technology Experts For A Roundtable Networking Event At #IHRSA2016 On Wednesday March 23rd From 1:30 - 2:30. We Thank Our Friends And Associates At IHRSA For Their Support In Allowing Us To Conduct These Events As Part Of The IHRSA Show.
To Get The Latest Updates Follow IHRSA And FIT-C On Twitter Or Visit Our FIT-C Website.
IMPORTANT UPCOMING GLOBAL EVENTS2016 FITNESS TECHNOLOGY TREND REPORT
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Purchase Your Copy Of Essentials Of Motivation & Behavior Change, With A Special Chapter Devoted To The Implications Of Technology, Today From Blackbox Publishers. Also Be On The Look Out For The New Book, Growing The Fitness Sector Through Innovation.