New Year, New You – How to Reach the Health, Wellness and Fitness Consumer in 2024
The U.S. health and fitness industry is worth $30B, growing annually by 3-4% over the past decade, and there are no indications that it will slow down anytime soon.1 One in five American adults hold a gym membership, and this number is expected to increase.
Gyms, however, are evolving. In lockdown, gym-goers turned to online training for its convenience. Now, those who have returned to the gym still want to mix in-person sessions with online ones. To meet this demand, gyms that offer hybrid memberships at a discounted rate will be able to meet this demand for training flexibility, as well as attract new cohorts of consumers.
This is one of many changes. Not limited to its traditional definition, the fitness industry’s consensus is that “wellness” is more than “health”, and includes three major components; physical, mental, and social. This presents a huge opportunity for marketers, with the global wellness market estimated to be worth $3.4T, three times larger than the $1T pharmaceutical industry. This has led to an all-time industry high due to increased demand for health and wellness products and services, and proves that Americans are more willing to spend money on their health than ever before.
So how do we effectively market health and wellness to this growing number of consumers?
It is essential to showcase both consumer enjoyment and the emotional and rational benefits, and video is the ultimate medium to demonstrate this. Studies show that users are more likely to engage with brands that use live video compared to simple social media posts. In fact, when watching a video, viewers retain 95% of the message, compared to only 10% when reading text.2
Video, however, extends beyond social media, and aligning the video tactic with the target audience is crucial to reach the entire audience – health, wellness, and fitness. First-party online and offline data hold the key to reaching potential customers interested in health and fitness products and services. By understanding the customers browsing behavior and data we are able to identify which online and offline tactics they engage in and the best ways to deliver the video content and messaging. Using a broader definition of fitness to incorporate physical, mental, and social wellness, CTV has successfully delivered ads to potential customers based on interests, online searches, competitive conquests, as well as retargeting efforts from the brand website.
Although CTV presents a significant opportunity for fitness advertisers, linear TV still holds a 49.6% share of viewing time.3 Live sports events like Monday Night Football and March Madness attract high viewership and advertiser demand, especially in the health and wellness space. As a result, media spend in the sports industry has increased by 62% from last year.4 However, linear TV has recently been challenged by the streaming industry with sports content being offered for cross-screen engagement. However, with this trend gaining momentum, it’s clear marketers must navigate this new playing field to connect with the ever-growing audience in sports.
This is an exciting time to expand fitness beyond its traditional realm and attract new types of customers through a larger video platform that includes both online and offline video. Remaining flexible and being willing to reallocate media spend based on consumer behavior, even if it goes against traditional media allocation practices, will be the key to succeeding.
- International Health, Racquet & Sportsclub Association (IHRSA).
- Insivia 2023 Report: Most important stats in the software and SaaS industry
- Nielsen, July 2023
- Ampere Analysis report
Nicky de la Salle is the Vice President of Growth at DirectAvenue. With more than 20 years of experience, including a decade at a “Big 6” global agency, in performance marketing and growth strategy, she is a proven senior leader with specializations in omni-channel marketing, eCommerce and digital marketing channels. Nicky has driven the performance marketing vision for Fortune 500, Entrepreneurs and Tech-Disrupters alike both in the US and internationally.
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