How to add digital products to your studio business for the long run
You’ve got video footage now, right?
Video is what got you through 2020. But, what do you do with it once you’re back to normal and at full capacity. That day is coming… at some point. So it’s time to start thinking strategically about the future of your digital products and offerings. Now is the time to decide if and how they fit into your long term brand and revenue strategies.
Using digital products effectively and strategically needs to be part of your Studio of the Future plan. Let’s talk about things you need to consider as you develop the right strategy for your studio.
Video on Demand or Live-streaming: what wins in 2022?
Do you offer video on demand (VOD) or livestream classes? It’s likely you answered, “both.” Both was a good answer for 2020 and even right now. In fact, according to Mindbody’s 2021 Wellness Index (a survey of approximately 20,000 adults in late 2020):
37% of survey respondents join a live stream workout at least once a week
40% exercise to a pre-recorded fitness video at least once a week
I don’t have a crystal ball here, but given my perspective as a customer in the boutique fitness industry + my experience helping fitness and yoga pros market their businesses I believe:
After pandemic-related concerns and restrictions are lifted, Video on demand products (those pre recorded videos) will continue to outpace livestream in popularity. Why? Because they have a better value proposition for studios than livestream.
Let’s dive a little deeper…as you know, Live stream was the natural choice in March 2020 when studios needed to close in person classes. Why was that? That’s because it was the closest substitute to in-person classes available. SO… what made it a great service in pandemic times, will also make it compete directly with your in studio classes once you are fully open again.
On the other hand, video on demand products fill a complementary role in your clients lives. Many of your clients don’t attend in studio classes every day of the week, but you bet they do something most days. Whether they’re traveling, have a sick kid at home, or just having a busy week at work, VOD content is flexible enough to fit in those non-studio days.
Additionally, I believe pre-recorded videos will be easier to deliver at a high quality and market into the future. Adding online experiences to your business makes your studio an even bigger part of your clients’ everyday lives. Your messaging needs to reflect this added value and incorporate new online offerings.
What about livestream?
Livestream classes are going to fade away as COVID concerns fade. The value of livestream is only really relevant for most studios when an in studio experience is not an option. Plus, tech challenges (that inevitably pop up at the most inconvenient times!) and the timing of delivering a quality livestream product is stressful for business owners.
Yes, there may be some situations where continuing livestream is a great option. For example, if you’re located in a vacation destination and have a seasonal crowd or you have more demand for class space than you physically have available. But for most studios...
Bottom line: Yes.. absolutely lean into livestream as long as it’s working for your studio. But watch attendance closely and don’t be afraid to ditch it when it no longer makes sense. And put your effort into developing quality, specific on-demand digital products for the long run.
How to create video products that sell themselves
What do you need to do before you hit “record”?
Think about your marketing headlines.
Most studios curated a LOT of video content over the last year. When you look at your video library, you may discover that you have 40 different 60-minute Vinyasa Flow classes. If you create another 60-minute Vinyasa Flow video, why will that grab the attention of your members or a new visitor to your website?
Help your future marketing self out a little here, and give yourself something to talk about!
Don’t simply record another class for the sake of building up your VOD library. Instead, start with the headline. Would a class called “30-minute Tackle Your To-Do List Meditation” appeal to many of your members? Absolutely! Someone perusing your class offerings will likely stop their scroll to read more about that class.
Market your classes with intention - including your more standard offerings. Going back to the 60-minute Vinyasa Flow example. Call one of those classes “Sleepy Saturday Vinyasa Flow,” and suddenly you’ve given it an identity. And given people a reason to try the class.
Remember to clue your teachers in to the marketing/targeting you have in mind so they weave appropriate content into their instruction.
Big takeaway: when crafting your video content, start with your potential customers’ pain points and figure out what will make your video irresistible to them. Think about headlines and how you’ll promote the video before you ever start recording.
Create videos that are both Snackable and Stackable
Everyday life continues to be anything but everyday. With work, school, and home lives happening in the same spaces, snatching bits and pieces of time to get things done has become the norm. That includes fitness.
Some people head to the studio or gym to workout. But those workouts tend to be shorter than they used to be. Many people are fitting fitness into their already busy days at home. Sneaking workouts in between work calls or kids’ Zoom classes.
According to the 2021 Mindbody Wellness Index, 4 in 10 Americans report their workouts are 30 minutes or less. The article further explains that “snackable” workouts are how people are still fitting fitness into their days when they simply don’t have time for a longer class or session. Shorter workouts also combat some of the issues with working out at home. Distractibility and boredom, to name two.
What does this mean for your digital products?
Your VOD library needs to have classes of different lengths, including some that are 30-minutes or less.
When you market these classes, think about the value to your customers having access to workouts that are both “snackable” and “stackable.”
Snackable - I literally only have 20 minutes to squeeze in a workout.
Stackable - I’m combining a couple types of exercises to fit my needs. Maybe I just went for a run outdoors and now I want to add a bit of strength and flexibility to round out my workout.
Show your members how to fit these workouts into their lives to support their health and fitness goals. Give them options they can easily fit into their busy schedules.
Create a premium customer experience with video thumbnails
You have a great hook of a title and marketing headlines that connect with your new customers. Now what? Make your video products LOOK great by creating branded thumbnails.
Do thumbnails really matter? A recent blog post from Uscreen reported the right thumbnail can boost engagement up to 154%! So yes, thumbnails matter.
Don’t rely on the automatically generated screenshot. It won’t reflect your brand. And, it’s almost always unflattering. Instead, take charge of how clickable your video feels.
Make sure your thumbnails are:
Eye catching - just like people eat with their eyes, they browse your VOD library with their eyes, too. Give them thumbnails that will tempt them.
Easy to read - don’t leave members and prospects squinting or wondering what you’re trying to tell them.
Relevant - your thumbnails should be related to what your member or prospect is searching for.
Descriptive - this valuable - if small - space is marketing gold. Use it to convey the purpose, content, or feel of the class.
Branded - your thumbnails should all feel as if they are part of your brand with consistent messaging, colors, etc.
Keep these guidelines in mind and have some fun creating thumbnails that will catch the eyes of your visitors and have them happily shopping for the next class they want to try. Not sure how to created your own on-brand thumbnail images? The online graphic design tool, Canva has some great templates you can start with!
Make digital products part of your studio’s long term plan.
Your studio’s future needs to include digital products—of some sort! The fun part is you get to decide what that looks like and you can make digital products that are a perfect fit for your own unique community.
Need help pulling together your digital offering strategy? Get in touch and we’ll make a plan to bring your studio into the future!
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