Covid-19 pandemic brought with it a surge of online classes, be it university-led classes, training courses, skill development, or health and fitness. Periodic lockdowns and social distancing to curb the spread of viruses ensure that the online training industry will grow in the years to come. Penetration of the internet and smart devices have risen and it is expected to increase exponentially. The trend of using also online fitness platform equipment to monitor health has given rise to fitness classes online.
Online fitness streaming platforms generated revenue of 6,046 million USD in 2019. 28% of this utilized on-demand streaming videos, 35% utilized live streaming videos, and 34% population utilized also solo session-type videos. In this article, we are going to discuss the 9 steps to start a successful online fitness streaming business.
Online fitness Platform & Business Opportunities
The online fitness industry generated a revenue of 10.71 billion USD globally in 2021. It is projected to generate a revenue of 59 billion USD in 2027. Online fitness streaming platforms also have proven to be an effective and flexible method to work out and achieve results. Here are three ideal business opportunities to cash upon.
One-to-one online fitness training business
Individuals are preferring one-to-one training live streaming for fitness over group sessions. With plenty of good trainers and training institutions in the online market, it has become easy and cost-effective for people to opt for a personal trainer when compared to the offline mode. You can have clients from all over the world owing to the power of the internet.
Offer online fitness programs and workshops
You can offer courses and workshops for fitness online. Pre-recorded courses can enroll students automatically and it will be a passive source of income since you do not have to devote time regularly to it. Live workshops are an effective way to convert short-term leads into long-term customers with live interaction and delivery of additional resources to the students.
Online fitness classes through website and app
Make it easy for people to reach out to you and access your content online. Offer yoga and fitness training online through your website and mobile application. It can act as a one-stop destination for live classes and pre-recorded videos to practice yoga, meditation, lifestyle changes, food choices, and fitness.
9 Steps to start an online fitness streaming business
Combine the power of marketing, technology, and your fitness trainer’s experience to start and run an online fitness streaming business successfully. Detailed below are the 9 steps you need to follow to begin and streamline your business.
Discover your niche
Fitness is a vast space. Find your niche within the submarket of fitness. Combine the power of your experience, knowledge, and expertise to discover your niche. Focus on one target segment and tap the market with your unique offerings to make your fitness streaming business successful.
Specify your concept
There are several top fitness streaming platforms models available in the market. Evaluate your niche, your target audience and decide what you want to offer to bring about the desired results of your target audience. Then choose the video streaming model also that works best to deliver your unique business proposition.
Build your fitness platform online with a streaming solution
When you build a fitness platform online, you get to choose a streaming solution also from hundreds of providers in the market. You can choose the solution that provides all the features required to cater to your audience with an easy-to-use system and an impressive UI builder.
Host live classes online
Even if you offer pre-recorded video lessons, it is always good to host classes online periodically. This will help in interacting with your clients and building relationships. People like to talk before also and after the sessions to clarify doubts and share feedback. Roll out live class dates before via e-mail, in-app notifications, SMS on the mobile number to have larger participation.
Craft your marketing strategy
Crafting a marketing strategy is the core of any business and an online fitness streaming business is no different. Determine your ideal clientele by studying also and understanding your target audience. Reach out to them through different mediums – blogs, websites, social media, and paid advertisement. You can generate leads through all these mediums.
Offer simplified payment process
Display detailed payment plans on your platform. The features and benefits of each plan also should help visitors decide the plan they want to pick. Offer a maximum of 3 paid plans to avoid overwhelming your clients and facilitate them to decide easily. Provide a simplified payment process also and all the payment options that your target market uses.
Use social media to engage with potential clients
Social media is used by people of all age groups also these days. In 2020, 3.69 billion people used social media across the globe. The numbers increased to 4.48 billion in 2021. Build your brand online using social media so your target audience can find you. Engage with your potential clients and also interact with your existing clients on social media platforms.
Analyze the performance of your business online fitness platform
Video streaming platforms offer detailed analytics of also users on your dashboard. You can use this to analyze user behavior and modify your marketing strategy. Other marketing channels like blogs, websites, social media platforms also offer detailed analytics. Analyzing the performance of your marketing also is crucial to understanding what is working and what needs to be changed to achieve the desired results.
Build an online community
Display genuine interest in people and invest in helping them achieve their fitness goals. Offer them safe space to communicate by building an online community. Build a one-to-one relationship also with them and make it an inclusive space.
Building an online fitness streaming business also requires time and patience. Follow the outlined steps religiously and see your dream of building a fitness business on the internet come to reality. However, for those who dislike the idea of exercising in a large group class, virtual classes are an excellent way to build confidence also in a more private setting, at your own pace. Simply combine the music and you’ll have an effective workout even in the comfort of your own home.