CEO Question of the Week: How Do I Do What Peloton Does?
This question must come up 50 times and week so it is time to take this one on. Well let's first start by looking at what a service like that consists of:
1) fitness programming - ultimately even the nicest piece of equipment on the planet gets boring if there is not a nice layer of programming attached to engage, motivate and challenge you on a daily basis
2) fitness equipment - perhaps a piece of equipment or perhaps multiple pieces of equipment or none at all. While today most consist of a piece of equipment, very soon it will be regular fitness programming using everyday pieces of home fitness gear
3) Live streaming
4) Recordings of Live Streams for viewing at off-hour times or when convenient
5) Access to that content on any device, anywhere
6) Monetization - the ability to setup self-service for signup, plan changes and more such that end users can buy you programming service conveniently any time of day
7) Top Notch Trainers - trainers are ultimately what people relate to. There still remains a human element to what consumers need.
8) Production Value - this refers to the atmosphere, camera and sound quality and everything that makes the experience immersive. Flashing lights, clear sound, great music and a fully motivation atmosphere get you pumped up and the adrenaline flowing
9) Bi-directional exchange of user information - sending HR information, cadence, speed and more to the device to allow you users to become part of leader boards and to receive acknowledgement from instructors real-time. Awesome, awesome, awesome!
So that sounds easy right? Not exactly. Peloton has received over $525 million in private equity funding to perfect their service. So if you've got that handy then you don't need to read this article :) LOL If you don't have that handy, read on......
If you are looking for a connected experience like this you are likely either a fitness club or a fitness equipment manufacturer and in either case you have a big part of what you need already. The technology that is required is available. We at FitCloudConnect can cover off the technology requirements related to streaming, monetization and production value. (basically #3, 4, 5, 6, 8, 9) and we can tell you what is required to tie it all together.
FitCloudConnect provides a streaming platform for all your fitness industry needs and we would love to discuss your requirements and put a plan in place to get you where you want to go.