Key Takeaways

• iFIT is an integrated health and fitness platform, designed to connect its proprietary software, experiential content, and interactive hardware to deliver an unmatched connected fitness experience.

• Industry-leading brands marketed by iFIT Health & Fitness Inc. include NordicTrack, ProForm, Freemotion, Weider, and Sweat.

•  CBInsights, a third-party business directory, mentioned Ergatta, CityRow, and Hydrow as the top competitors of iFIT.

• iFIT targets both the US and global households and facilities interested in acquiring new fitness equipment and online services.

• iFIT Health & Fitness Inc. drives brand awareness through a sequence of direct-to-consumer and retail partnerships. The company is said to have a robust direct-to-consumer marketing platform providing a rich brand experience on iFIT.com, NordicTrack.com, ProForm.com, and FreemotionFitness.com.

Introduction

• The research provides insights into iFIT, including an overview of the company, its marketing strategy, brands, competitors, and target audience.

iFIT: Company Overview

• iFIT is a health and fitness subscription technology company, fueled by its passion to provide meaningful solutions, innovate, and grow, for the benefit of its members.

• The company has a growing community of more than 6.1 million members and 1.5 million total fitness subscribers with members in 120+ countries.
• Its global health and fitness platform integrates proprietary software, experiential content, and interactive hardware to provide what is believed to be an unmatched form of connected fitness.
• The iFIT operating system "provides interactive experiences on all of our connected equipment brands, allowing members to gain access to our full library of iFIT live and on-demand content for $15/month for individuals or $39/month for families of up to five (or $396 when paid annually)."

Apparent Marketing Strategy

• iFIT claims to have a "highly efficient and scalable marketing model to increase brand awareness, and acquire and retain iFIT subscribers on their choice of fitness equipment."
• The company said it has created a proprietary marketing model that blends brand and product-specific performance marketing.
• To achieve this, iFIT Health & Fitness Inc. drives brand awareness through a sequence of direct-to-consumer and retail partnerships.
• The company is said to have a robust direct-to-consumer marketing platform providing a rich brand experience on iFIT.com, NordicTrack.com, ProForm.com, and FreemotionFitness.com.
• iFIT opined that "it markets to consumers through advertising campaigns on social media, digital media, cable, and broadcast TV, and over-the-top providers such as Hulu, Roku, and Amazon Prime Video."
• The marketing team devices specific messages for different target audiences that match their individual preferences.
• Such models permit message testing and optimization, accelerated brand awareness, and effective promotion, which drives sales at direct-to-consumer and our retail partners.
• The company further revealed that it had "developed a proprietary marketing mix model that is based on a random search algorithm to perform computations on aggregate data to determine and maximize the contributions of media channels. This model allows us to efficiently and effectively allocate our marketing resources to drive future membership and revenue growth."
• It endeavors to provide retail touchpoints where consumers can access and purchase its products, irrespective of their shopping means.
• The brands and products are advertised on all channels where fitness products can be purchased.
• Such an omni-channel marketing strategy resulted in approximately 10.1 million customer interactions and purchases of IFIT's interactive products during fiscal 2021.

Brands

• Industry-leading brands marketed by iFIT Health & Fitness Inc. include NordicTrack, ProForm, Freemotion, Weider, and Sweat.
• In general, it has seven (7) brands, including:
•  iFIT: A proprietary software that connects its experiential content and interactive hardware into one integrated platform to create an unmatched connected fitness experience for our members.
•  NordicTrack: Addresses the at-home market by providing premium connected fitness technology with the majority of large exercise equipment.
•  ProForm: Addresses the mass market by providing connected fitness technology to at-home consumers at attainable price points, with the majority of large exercise equipment.
•  Freemotion: An ultra-premium brand that provides leading-edge technology to pro sports training facilities, commercial gyms, and high-end residential consumers.
•  Weider: Offers a full spectrum of weight-based strength training equipment, including home gyms, benches, weights, and kettlebells, all complemented by iFIT training content.
• Weslo. It delivers iFIT interactive training equipment at value price points, on products including treadmills, bikes, and ellipticals.
• Sweat App: One of the world’s largest digital fitness training platforms for women.
•  29029: A wellness tourism company focused on restorative endurance and ultra-distance events.

Competitors

• According to the company's annual report, "it directly competes with other companies in the highly competitive markets for connected and traditional fitness equipment, health and wellness apps and additional adjacent categories."
• It also competes with new entrants in the fitness equipment market, accompanied by major advertising and promotional programs.
• The Echelon and Peloton are mentioned alongside the iFit app as some of the best fitness apps on the market by Filtrated. The apps all offer amazing workouts with a myriad of options for different users.
•  CBInsights, a third-party business directory, mentioned Ergatta, CityRow, and Hydrow as the top competitors of iFIT.

• The brands were listed as competitors of iFIT because they all provide an on-demand fitness experience that is unique and immersive.

Target Customers

•  Mark Watterson, iFit’s president revealed that iFIT targets fitness enthusiasts interested in embracing connected fitness.
• According to him, the COVID-19 has accelerated the adoption rate for connectivity in fitness for home and club workouts.

• iFIT targets both the US and global households and facilities interested in acquiring new fitness equipment and online services.

Research Strategy