Driving Growth and Retention with Group Fitness - IHRSA EUROPE - Dublin 2009
Impact Of Technology On Fitness Industry - IHRSA 2010
Transcript of Impact Of Technology On Fitness Industry - IHRSA 2010
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Technological Innovation and the Fitness & Wellness Industry:
Predicting the Impact
Bryan K. O’Rourke, MBA
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all content available @
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before we start a word from seth myers
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Thanks Technology
Seth Myers
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broad
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4
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Key Trends
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Biz Models
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Innovation
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Predictions:Consumers &
Facilities
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“change is the process by which
the future invades our lives”
Alvin Toffler
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think different
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No Crystal Ball
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Different
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revolutionconvergence & divergence
<3>
demography
globalism
technology
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key technology
trends
1st
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how will it impact our lives & industry ?
technology - what has it &
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Technology: etymology greek - meaning skillful application of an art. The practical application of science in commerce or industry.
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Technology: the pace of change is not linear its exponential. Adoption rate is increasing similarly.
Gordon MooreCo-Founder of IntelNumber of transistors on a chipwill double every two years. “Moore’s Law”
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Law of accelerating returns . We are just seeing the start - “knee of the curve”
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1,2,3,4,5,6,7,8,9,10.......
2, 4, 16, 256............
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Internet: The free exchange of information with limited constraints.
-Commercial Internet began only 5,300 days ago-Serves over 1.5 Billion people-79% of US adult population-40% of US consumers usesearch engines for comparativeshopping
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The “Grid” Becoming Increasingly Integrated
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Devices - getting smaller and more powerful.
The ability to increasingly and more easily integrate technology into daily life is upon us.
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15 Billion by 2015
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Mobility: Communication & information when ever and where ever the customer wants it.
Mobile Internet Access:Pew - 56% of US AdultsIncrease of 73% in 17 months
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Mobile speeds will increase ...........
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Internet will become more intelligent ...........
Web 3.0the “Semantic” Web
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Cloud Computing: Low cost ubiquitous storage and application deployment !
Outsourced Service PlatformsSalesforce.com
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explosion of interactive tools & platforms
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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Merger of
Physical &Digital
emotiv
natal
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key trends
digital reality
intelligence
connectivity
miniaturization
web 2.0 & 3.0
cloud computing
low cost
new products &services
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2
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Biz Models
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VALUEPROPOSITION
COSTSTRUCTURE
CUSTOMERRELATIONSHIPS
CUSTOMERSEGMENTS
ACTIVITYCONFIGURATION
CORECAPABILITIES
PARTNERNETWORK
REVENUESTREAMS
DISTRIBUTIONCHANNELS
business model
INDUSTRYSUPPLIER
DEMANDCUSTOMER
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"companies that expect a glorious
past to shield them from the
forces of change driven by advancing technology will fail."
- Rupert Murdoch
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0
75.0
150.0
225.0
300.0
2021 40
206
Fitness FacilitiesVideo Games
OTC DietRetail Pharma
2009 U.S. Revenues(in billions $)
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1%
99%
Fitness Facilities Health Care
2009 U.S. Market(US health care $2.6 trillion)
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17%
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U.S. Fitness Facility Marketstatistics from www.cmeto.com
46%
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Market Evolution
“Membership” ModelPricing Has Declined
Low Price & Limited Features High Price & Full Features
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PRIZM
Consumers
66 Groups
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IHRSA 2009 comparative US industry data
7 groups account for 75% of US club members
Income / Price is a KEY Barrier
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"It may be fatal to assume that minor adjustments to current business models will keep the fitness industry abreast of changing times."
http://futureoffitnesswhitepaper.ning.com/
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DemandIndustry Convergence
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clothing
supply side
Li & Fung Group
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movie theaters
arcades
record stores
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Economics of Free
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VALUEPROPOSITION
COSTSTRUCTURE
CUSTOMERRELATIONSHIPS
CUSTOMERSEGMENTS
ACTIVITYCONFIGURATION
CORECAPABILITIES
PARTNERNETWORK
REVENUESTREAMS
DISTRIBUTIONCHANNELS
business model - new models needed
INDUSTRY SUPPLIER
DEMANDCUSTOMERdigital technologies
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3
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Innovation
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“those who cannot change
their minds cannot change
anything”
George Bernard Shaw
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How OrganizationsCreate Value
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VALUEPROPOSITION
COSTSTRUCTURE
CUSTOMERRELATIONSHIPS
CUSTOMERSEGMENTS
ACTIVITYCONFIGURATION
CORECAPABILITIES
PARTNERNETWORK
REVENUESTREAMS
DISTRIBUTIONCHANNELS
business model - what is technology doing ?
INDUSTRYSUPPLIER
DEMAND - CUSTOMER
+
_
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sustaining
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disruptive
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consumercentric
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EmpoweredConsumers
It’s all about the
“You”
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Product - Build fences, own it all
Price - Competition, supply - demand
Place - Physical distribution
Promotion - Sell, sell, sell
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
....Legacy of the Industrial Revolution
To Deliver Value Organizations Used To ......
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Product = Experience, Co-Created
Price = New Value Exchanges
Place = Marriage of Digital & Physical 24/7
Promotion = Conversation or Engagement
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
To Deliver Value Organizations Must Now......
.... A New Way of Doing Things
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
C.K. Prahalad
“To successfully compete companies must reinvent their process & culture in order to sustain innovative solutions.”
“World’s Most Influential Management Thinker”-Times of London 2007
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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N = 1
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R = G
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orchestration
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Innovation = Value Creation
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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U’s Together =
CommunityCentric
customer focus
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social media = new business models
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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To Innovate:
Change How Organizations Work
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
New Methods, Roles & Models to Compete
Integral Part of Organizational Capability
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4
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What’s Aheadpredictions
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1. non-facilitycompetition will surge
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Merger of Technologies Including Social MediaWill Create New Low Price Alternatives
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
Nike Running
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OutsideIndustry Convergence
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2. successful facility competitors will deliver
new models
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Product = Experience, Co-Created
Price = New Value Exchanges
Place = Marriage of Digital & Physical 24/7
Promotion = Conversation or Engagement
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
.... A New Way of Doing Things
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
Hi-Tech Hi-Touch
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
Financial ServicesIndustry
Measure is not# of Bank Branches
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
24/7 Service & Support
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
Adoption of Social Media Best Practices
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3. “wellness” will increasingly emerge
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The Crisis...23% of Americans participate in no physical activity
62% of Americans obese or overweight -18% rise in last decade.
23% of Americans still smoke. 3000 start each day.
78% of men eat vegetables less than three times per day.
75% - 90% of visits to Primary Care Physicians are for stress.
THE COST IS BANKRUPTING OUR NATION
Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
Head - Traditional Fitness Industry
Long Tail - New Wellness Space
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
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Finally
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“The greatest obstacle to
progress is not ignorance. It’s the Illusion of knowledge. “
-Daniel Boorstin
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"Of the ten leading vacuum tube companies, none participated in the transistor revolution".
–Chet Raymo
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is up to us......
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think different
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Technological Innovation and the Fitness & Wellness Industry:
Predicting the Impact
THANK YOU