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Five Simple Ways To Use Technology To Increase Health Club Revenues

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The health club industry is changing as the result of the convergence of changing customers, technologies, economics and globalism. Digital masters outperform their cohorts significantly and therefore understanding keys to concrete tech adoption that enhances revenues and profits is crucial. Here are 5 SIMPLE ideas to drive revenues through tech adoption.

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Five Simple Ways To Use Technology To Increase Health Club Revenues

  1. 1. 5 Simple Ways To Use Technology To Increase Revenues
  2. 2. All Industries Are Changing. Health Clubs Are No Exception #DigitalTransformation
  3. 3. Discontinuity And Paradigm Shift From Old To New
  4. 4. INDUSTRY LIFECYCLE S CURVE REINVENTION Digital Differentiator
  5. 5. CONSUMERS TECHNOLOGY GLOBALISM ECONOMICS HEALTH CLUB INDUSTRY IMPACTED BY 4 KEY DRIVERS
  6. 6. Power has shifted to consumers. Convenience, authenticity, choice, decision making. Exane : “10% luxury purchases digital now; 40% by 2020” CONSUMERS: Going Digital
  7. 7. Brand Loyalty Is In Decline In The Era Of Greater Choice. Consumers Must Be Served They Way They Want To Be. CONSUMERS: Increasing Choices
  8. 8. 3 CONSUMER TRENDS
  9. 9. GREATER UTILITY AND CONVENIENCE & RELEVANCE FOR USERS PERSONALIZATION ACKNOWLEDGEMENT AND RECOGNITION EMBRACING A MISSION ENGAGEMENT FLAUNT CULTURE NOT JUST FITNESS BENEFICIAL INTELLIGENCE NEW WAYS OF DELIVERY THAT INCREASE USE AND RELEVANCE SERVICE REDEFINITION OMNI-PRESENCE TRENDS + VISION = REINVENTING MODELS 3 KEY CONSUMER TRENDS PERSPECTIVE SHIFT STATUS
  10. 10. CONSUMERS : No More “Off-Line” Consumers have embraced the wealth of information on-line when making all buying decisions according to studies by Deloitte. According to Forrester online influenced $1.3 Trillion in in store retail sales in 2015 and according to a PwC survey 78% of respondents indicated their buying decisions where impacted by digital social networks. Digital experiences are an integral part of the buying journey of everything including health club memberships and services.
  11. 11. What Are Prospects And Members Doing Online ? 36% - Researching Products And Services 36% - Comparing Prices 31% - Accessing Coupons Or Promotions 25% - Checking Reviews
  12. 12. Most Importantly Consumers Are BUYING Online The average consumer now spends $1,843 a year online for products and services and overall user penetration is expected to hit a whooping 70.18% by 2020.
  13. 13. TECHNOLOGY
  14. 14. The Most Successful Health Club Business Models Will Wisely Adopt Digital
  15. 15. HYPE CYCLE CHALLENGE
  16. 16. 17
  17. 17. ECONOMICS
  18. 18. Key economic drivers: digital lower costs while increasing revenue per member and lifetime value of member
  19. 19. Profit Margin A Top Financial Model In The US The “Digital Guru” Club Brand 20 EBITDA SALES $1M - $3M SALES $3M AVG Asset Turnover X =53% 200% 106% ROA
  20. 20. New delivery systems to meet consumer needs in new ways. CONSUMERS + TECH + ECONOMICS = WINNER
  21. 21. Key strategy : Orchestration. Choose the right partners to help you get there. Do not try and go it alone.
  22. 22. 5 Simple Ways To Use Technology To Increase Revenues @bryankorourke
  23. 23. 1. Online Membership Sales
  24. 24. 2. Digital: Returns Management
  25. 25. 3. Recurring Value Add Billing Services
  26. 26. 4. Personal Training Services
  27. 27. 5. Marketing, Selling & Billing For Groups
  28. 28. CONSUMERS TECHNOLOGY GLOBALISM ECONOMICS HEALTH CLUB INDUSTRY IMPACTED BY 4 KEY DRIVERS
  29. 29. CUSTOMERS HAVE SHIFTED TO DIGITAL
  30. 30. 5 Simple Ways To Use Technology To Increase Revenues @bryankorourke
  31. 31. 1. Online Membership Sales 2. Returns Management 3. Recurring Value Add Billing Services 4. Online Personal Training Services 5. Marketing, Selling & Billing To Groups @bryankorourke Simple Ways To Use Technology To Increase Revenues

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