NIFA Q2 Recap: Creating Your Peloton
We welcomed back in-person events with the Northern Illinois Franchise Association (NIFA) Q2 June luncheon, “Creating Your Peloton.” It was an informative discussion detailing Peloton’s position as an iconic American brand that disrupted the fitness industry to create a rabid, life-changing community of members spanning digital and physical worlds.
Before David J. Miller was a Peloton fanatic, he, like many others, was a skeptic. How was this $2,000 exercise bike any different from the various bikes and treadmills crowing his garage? With his wife’s persistence, his stubbornness soon faded, and today, David has completed thousands of thousands of workouts, met fans all over the nation before eventually writing a book, Sweating Together, about the brand’s success.
As the wellness industry tops $4.5 trillion, Peloton is unlike any other fitness brand on the market. According to David, “there is no better company for understanding the future of the economy and society.”
How did they do it?
Peloton seamlessly integrated into pop culture with celebrity partnerships and live workout classes, with instructors themselves becoming influencers in the space. They’ve mastered the essence of building a digital community by encouraging people to form groups, challenge one another and interact with the brand and instructors via social. While the bike is physically in your basement, you have the ability to connect digitally and socially with everyone else who has a Peloton.
According to David, all brands have the opportunity to create a customer-driven focus. Known as the Lean Startup method, brands are letting customer learnings drive innovation with customer data. Many QSR concepts are taking this approach, basing their operations on customer purchase decisions.
We’d like to extend a huge thank you to our presenter, David J. Miller, for making this event possible. Your inspiring insight on building a brand community reignited our entrepreneurial spark as we push to build our own digital audiences.
If you didn’t get a chance to attend, or would like to view the discussion, click here to download the video recording.
To further foster these connections and share best practices, we encourage anyone who would like to stay connected to check out our NIFA LinkedIn group.
Looking ahead, we are planning wonderful 2021 events for Q3 and Q4 and look forward to reconnecting with everyone in person. We encourage anyone with topic ideas and sponsorship questions for future events to reach out to Lauren Izaks directly by clicking here.
Visit www.northernilfranchise.org for more information about the organization.