In the ever-evolving landscape of the fitness industry, the key to success in 2024 lies in embracing digital transformation.
For mid-market gym, fitness and leisure businesses, this involves not only providing a top-notch fitness experience but also streamlining internal processes and offering diverse payment options to cater to the preferences of a tech-savvy clientele.
How can digital innovations transform the fitness industry to enhance member experience and operational excellence?
- Membership management software: Implement cutting-edge membership management software to streamline registration, class scheduling, and member communication. Providing a seamless and user-friendly interface allows members to manage their accounts effortlessly.
- Automated attendance tracking: Consider utilising automated attendance tracking systems to simplify the check-in process for members and your front of house staff. RFID cards or mobile-attendance tracking can be extremely handy in streamlining access to classes and facilities.
- Digital personalised workout plans: The world is becoming more and more mobile focused. Consider introducing a mobile app that offers personalised workout plans based on members' fitness goals. These could also provide real-time progress tracking and encourage member engagement through in-app challenges and rewards.
How can payment flexibility and optimized solutions enhance member satisfaction for gym-goers?
- Payment options for all the ways people like to pay: Consider your member base and their preferred payment methods. Our research shows that limited payment options were an issue for 30% of gym-goers and we also found that there are diverse payment preferences with 30% preferring to pay online via card, a quarter (26%) preferring to pay in person with cash or card, and 16% preferring a mobile wallet. Cater to diverse member preferences, ensuring a frictionless payment experience for everyone.
- Flexible payment plans: Introduce flexible payment plans to accommodate different budgetary needs. Provide options for one-time payments, monthly memberships, and discounted annual subscriptions. Our research shows that flexible payment options are a top priority for 41% of gym-goers.
- Direct Debits for seamless transactions: If you don’t already, why not consider implementing a Direct Debit solution for members who prefer automated, hassle-free payments. Streamline billing and reduce friction by automating recurring payments. Our research shows that 36% of gym goers prefer to pay via Direct Debit.
What payment options should fitness businesses leverage to transform transactions for the younger generation?
The younger generation is typically tech-savvy and have high expectations when they come to choosing a provider of goods or services. If your business caters to their tech expectations, this can put you in front of the competition.
- Open Banking payments: With more than 1 in 9 Brits now utilising Open Banking services, is it time you’re your business to embrace Open Banking to facilitate seamless and secure financial transactions? Allow members to link their accounts for convenient payment processing directly from their bank.
- Mobile Banking: If you have the resource, you could consider developing a mobile banking app that integrates with your gym's payment system. Enable members to make payments, check schedules, and access exclusive content from the palm of their hand.
- Virtual memberships and on-demand fitness: Introduce virtual memberships for members who prefer online fitness classes. This could also include offering on-demand workouts accessible through mobile apps, catering to the on-the-go lifestyle of the younger demographic.
The future of the gym and fitness industry is digital, and success in 2024 hinges on embracing this transformation. By digitising internal processes, offering diverse payment options, and catering to the preferences of the younger generation through Open Banking payments and mobile solutions, your gym can position itself as a leader in the evolving fitness landscape.
People-first payments for the gym and fitness industry
Aimed at gym and fitness business operators, this guide will break down some of the biggest consumer trends influencing the sector today, and explore strategies to optimise your payments strategy for enhanced customer experience, compliance, and efficiency.
