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IFit Overview
Key Takeaways
- iFIT is a connected fitness streaming company owned by ICON Health & Fitness (”ICON”). The company claims to be one of the largest digital health brands in the world with "proprietary technology, innovative hardware and immersive experiences."
- iFIT's messaging is focused mostly on promoting the quality and value of its offerings. They use phrasing such as "industry-leading," "broadest range," "iconic experiences," "experiential content," and "proprietary software." This messaging instills a sense of superiority over competitors and the uniqueness of offerings.
- According to the company, their target audience is not focused on any one demographic but rather designed to reach any consumer with an interest in fitness. The company stated that they use a "proprietary marketing mix model that is based on a random search algorithm" to determine what demographics and media channels to use and their marketing team tailors the content from there.
- Three direct competitors of iFIT include Apple Fitness+, Peloton, and Echelon.
Intro
iFIT is a connected fitness streaming company that claims to be one of the largest digital health brands in the world. Three direct competitors of iFIT include Apple Fitness+, Peloton, and Echelon. Details of the company, offerings, marketing, and competitors have been provided below.
Background
- iFIT is a connected fitness streaming company owned by ICON Health & Fitness (”ICON”). The company claims to be one of the largest digital health brands in the world with "proprietary technology, innovative hardware and immersive experiences." The company offers customizable fitness programs that can be integrated with customers' current technology such as apps and trainers or paired with iFIT equipment. The company has over 400 current and pending patents.
- Founding Date: 1977
- Headquarters: Logan, Utah
- Employees: 2,500
- Revenue: $1.75 billion (2021)
Products And Services
- Classes:
- Studio Classes
- Global Workouts
- Live Workouts & Events
- Progressive Series
- Challenges
- Google Maps™
- Cooking Classes
- iFIT Mind™
- Trainers
- Apps:
- Equipment:
Brands
- NordicTrack: "NordicTrack is #1 in both treadmills and ellipticals. iFIT interactive personal training is the heart of NordicTrack, providing a synergistic, complete fitness experience to consumers around the world. NordicTrack brings a new level of interactivity, with machines controlled digitally by elite personal trainers brought to you by our iFIT technology."
- ProForm: "ProForm brings iFIT interactive fitness technology to the mass market at affordable price points. ProForm’s award-winning connected equipment includes treadmills, ellipticals, cycles, climbers and fitness mirrors."
- Weider: "Weider brand taps into a multi-decade legacy that resonates with the strength training consumer ranging from novice to pro. Weider’s heritage combines with iFIT technology to offer interactive strength and resistance workouts with the guidance and progression this consumer seeks."
- Freemotion: "Freemotion Fitness is the global pioneer in commercial fitness equipment and technology, introducing the world to cable-based strength training, the Incline Trainer, the first road-simulating indoor bike and is now leading the way in interactive, connected fitness. With science and innovation at its core, Freemotion questions how we work out and then redefines it — creating products that deliver an unbeatable user experience and ultimately drive commercial results for its partners."
- 29029: "29029 was created with the goal of putting the ultra-endurance experience in reach of the non-endurance athlete. Event participants have 36 hours to complete a loop replicating the vertical gain of Mt. Everest’s 29,029 feet. The all-inclusive experience includes training programs, world-class coaching, luxury glamping accommodations, all food and beverage and limited-edition swag. Entry into the 29029 community is highly coveted as each event has fully sold out since the company’s inception."
- Sweat: "Sweat has engaged with millions of women around the world on their journeys to become healthier, stronger and more confident. The Sweat platform, cofounded by Kayla Itsines and Tobi Pearce, is powered by a team of industry-leading personal trainers and offers over 5,000 unique workouts across 26 exercise programs ranging from high-intensity interval training and strength to yoga, barre and Pilates."
Partners
- Boston Marathon
- Chicago Marathon
- London Marathon
- New York City Marathon
- Planet Fitness, Inc.
- Matrix Fitness
Marketing Overview
- Mission Statement: "Our mission is to improve your fitness and well-being"
- Vision: "To create the world's most holistic health and fitness platform, integrating all elements of health — physical fitness, mental health, nutrition and active recovery — into a seamless interactive experience."
- Value Proposition: "Proprietary software. Supremely engaging content. Cutting-edge hardware. All coming together to create health and fitness experiences that are unique and immersive. iFIT is how our growing community of over 6.4+ million Total Members and 1.5+ million Interactive Fitness Subscribers in 120 countries connect with 180 world-class trainers. It’s why those members can take advantage of over 60 live and on demand training categories."
- Industries Served:
- Messaging: iFIT's messaging is focused mostly on promoting the quality and value of its offerings. They use phrasing such as "industry-leading," "broadest range," "iconic experiences," "experiential content," and "proprietary software." This messaging instills a sense of superiority over competitors and the uniqueness of offerings.
- Target audience: According to the company, their target audience is not focused on any one demographic, but rather designed to reach any consumer with an interest in fitness. The company stated that they use a "proprietary marketing mix model that is based on a random search algorithm" to determine what demographics and media channels to use and their marketing team tailors the content from there. iFIT claims this omnichannel marketing strategy allows them to reach customers on "every channel where fitness products can be purchased" and resulting in 10.1 million customer interactions annually.
- The company stated, "We have a highly efficient and scalable marketing model to increase brand awareness, and acquire and retain iFIT subscribers on their choice of fitness equipment. We have developed a proprietary marketing model that combines brand and product-specific performance marketing. We drive brand awareness through a combination of direct-to-consumer and retail partnerships."
- Marketing Channels:
Marketing Campaigns:
- iFIT Marathon Series:
- In 2021 iFIT partnered with the Boston, Chicago, London, and New York City marathons to promote the brand's membership engagement through interactive workout campaigns. The partnerships allowed customers to virtually participate in the marathons through an on-demand, multi-part workout series that offers varying distance options and access to iFIT trainers.
- Everest: A Trek to Base Camp Series:
- In 2021, iFIT released a new training series that allowed users to experience at-home fitness with real-world Mount Everest climbing footage. The series included 18 interactive workout options with 3 levels of intensity lead by mountaineers that have actually made the trek including Kenton Cool, Lydia Bradey, and Ang Tshering Lama.
Competitors
- The company stated, "We directly compete with other companies in the highly competitive markets for connected and traditional fitness equipment, health and wellness apps and additional adjacent categories. The fitness equipment market is characterized by frequent introduction of new products, often accompanied by major advertising and promotional programs."
- Apple Fitness+
- Website: https://www.apple.com/apple-fitness-plus/
- Products/Services:
- Connected fitness through Apple Watch
- 11 fitness programs
- Guided meditation
- Fitness metric tracking
- Peloton
- Website: https://www.onepeloton.com/
- Products/Services:
- Bikes
- Treadmills
- App
- Accessories
- Apparel
- Echelon
- Website: https://echelonfit.com/
- Products/Services
- Connected Bikes
- Fitness Mirrors
- Rowers
- Apparel
- Accessories
- Echelon Stride
- Memberships
Research Strategy
For this research on iFIT, we leveraged the most reputable sources of information that were available in the public domain, including iFIT company website, Crunchbase, Growjo, BusinessWire, Forbes, PRNewswire, LinkedIn, and others.