As we adjust to a world with Coronavirus, fitness businesses are struggling to retain paying members. With states closing non-essential businesses, personal trainers, gyms, yoga studios and all kinds of fitness companies are trying to find new ways to make money without meeting in-person. One of the most popular and successful ways we’ve seen that done is through video classes and live streams.
For years at MAZ, we’ve helped fitness companies create OTT apps and mobile video streaming apps. Now more than ever in 2020, this can either make or break your business. So we wanted to gather together our best advice for gyms, fitness studios and everyone in between during the COVID-19 outbreak.
If you work at a fitness company that needs to move from in-person classes to live streaming and video, read our 6 most important steps below. And when you’re ready, get in touch at MAZ with us to move forward.
1. Figure out a new, online offering
If your old business relied on in-person classes or workouts, it’s time to evolve.
There are now millions of people stuck in their homes, trying to stay in shape during the COVID-19 outbreak. This includes former gym members, athletes, joggers, yoga lovers and every type of consumer imaginable. They’re turning online to find apps, livestreams and videos that can recreate their fitness regimen. What can you offer them to help?
Think about what makes your offering special. If you used to hold in-person classes, consider live streaming daily classes right into people’s homes. Or if you have a regimented step-by-step program, a video library is a great way to let members take it at their own pace. Whatever offering you choose, make sure it’s accessible online and a smart fit for your customers.
2. Equip your team to move online
Before your company can move online, your team needs the right tools to get it done.
Invest in decent cameras for your trainers or instructors. The new iPhones are able to shoot very high quality videos, plus there are plenty of budget options available online. They will also likely need tripods if they plan to film themselves.
Second, you’ll need some online video tools. If you plan to share your videos through a TV or mobile app, we suggest pairing an app-building platform like MAZ with any number of video hosting services. Get in touch with us here for our top recommendations.
3. Create video content to share
Now that you’ve got what you need, it’s time to start making videos!
With so many customers stuck at home, people are craving content. Think about the wide variety of videos you can make, from nutritional advice and workouts to product recommendations and more. The most important thing is to create plenty of video content and to share it on a regular basis.
4. Make a plan to monetize your videos
The beautiful thing about video is that there are so many ways to make money with it. The three most common approaches we see are AVOD (advertisement-based video on demand), SVOD (subscription video on demand) and TVOD (transactional video on demand).
Ads are an easy and powerful way to start making revenue from your videos. However, you need high viewership to bring in substantial revenue. Read our full guide on ad-based monetization here, or see how MAZ can help you monetize with ads here.
Subscriptions are our most recommended method for fitness businesses. Most gyms and studios already run on subscriptions (you might know them as ‘memberships’) so odds are your customers are already used to the idea. They are by far the best way to get the most revenue from your most dedicated customers. See our full guide to subscription or SVOD businesses here, or see how MAZ can help you monetize with subscriptions here.
Lastly, TVOD is a system where customers buy 1 video at a time (think of pay-per-view events). This can be useful if you have feature-length content to sell, like documentaries or long-form programs. But for most fitness businesses, this probably isn’t the ideal choice.
5. Create TV and mobile apps
This is where you truly bring your fitness experience home for your customers.
There’s no better online experience for people stuck at home than a beautiful, custom streaming app. And best of all, building this app is easy with a system like MAZ. On our platform, you don’t need any coding or design experience. Our easy-to-use platform allows you to build a fully business-grade streaming solution that’s ready to make money.
Get in touch with us here to build a custom TV or mobile app today.
6. Let your members know it’s here
When your new business has taken form, it’s finally time to get the word out.
If you have an email newsletter, be sure to announce the big news ASAP. Share on your social media accounts, post on your website, even consider running a giveaway or content to get more attention. As more people learn to live at home, they’ll be excited to see companies like yours making your services available in a safe, healthy way.
Coronavirus and COVID-19 have made it very difficult to run business as usual. But luckily for you, video apps can still help your business thrive in 2020 and beyond. If you’ve been looking for a smart way to get online with video, we hope this article was helpful!
If you’re interested in seeing how MAZ can help you take your video business to the next level, be sure to get in touch with us here or email us at Hello@MAZSystems.com. Thank you for reading and best of luck!