missing the ends of the markets: how to attract millennial and 60+er members

Welcome to the webinar! We will begin the presentation shortly.

Brought to you by:

Speaker: Michael Scott ScudderCEO at MSS Network

Speaker: Greg SklootVP Growth at Netpulse

3 Key Takeaways for Today

1. Why Millennials and 60+ers markets are important

2. Characteristics of Millennial and 60+er Markets

3. How to best reach Millennials and 60+ers

Why Millennials and 60+ers?

• The fitness industry is focused on chasing the 35–49 year old market.

• It’s 60 million people, but dwindling.It’s still 52% of members in the U.S.—but it won’t be for long!

• Highly competitive market segment.

• It’s not where present or future growth is!

The Gen X Market

One of the biggest mistakes that club operators make is underestimating

the financial potential of the millennial and 60+ markets.

Introducing the Millennials and 60+ers

Millennials

• Huge potential and untapped consumer market for the next 10 to 15 years.(80 million and growing).

• Already tapped into technologies.

• Already going in the direction that fitness and wellness are going. (“Experience and engagement”—based activities.)

60+ers

• Huge potential and untapped consumer market for the next 10 to 15 years.(60 million and growing at 2%+ annually.)

• Where the money is! (50% of consumer buying power…60% of the country’s wealth.)

• Have leisure time, availability and an interest in maintaining an older active adult lifestyle.

Millennials (ages 18–34) • Millennials are the core club

members of tomorrow. • Fueling the Studio, Boutique and

Virtual Fitness Markets.• Will spend for quality (eg. Class

Pass, Orangetheory, Soul Cycle)• Already tune into tech feedback• Will refer friends and co-workers

60+ers• 60+ers have the highest retention

rate in the industry (66%+). • Highest personal training and small

group training growth.• Highest ancillary sales percent

(33+%)• Highest monthly dues paid.• Will refer friends.

Why Millennials and 60+ers?

How to Best Reach Millennials and 60+ers

Questions to Ask Yourself

• What is the overall experience you create inside and outside your 4 walls?

• What are the experiences you create in your classes, your trainings as well as your programs?

• How are you connecting members? How well is your club integrated with technology?

• What do you do—from the reception area and locker rooms to staff interactions and club communications—that create emotional attachments for your members?

The 3 Elements of Emotional Attachment

Each customer must trust the integrity of your brand.

There must be expertise and professionalism...consistently.

You must create affinity with each customer.

TRUST QUALITY VISCERALCONNECTION

gskloot@netpulse.com

www.netpulse.com877-NETPULSE

michaelscottscudder@gmail.com

www.michaelscottscudder.net