What is Peloton?
Peloton is the largest fitness platform in the world with a loyal community of over 5.8 million as of June of 2021. They pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes for their members anytime, anywhere. Their goal is to make fitness entertaining, approachable, effective, and convenient while fostering social connections that encourage their members to be the better version of themselves. They define a member as an individual who has a peloton account through a paid connected fitness subscription or paid Peloton Digital subscription.
They are innovating the industry of fitness with technology and media by developing a first-of-its-kind subscription that combines their equipment, software, and streaming digital fitness. Their world-class instructors teach classes across a variety of fitness and wellness disciplines, including indoor/outdoor running and walking, yoga, Pilates, strength training, meditation, and much more.
Do they have competitors?
Their beliefs are that they have a first-mover advantage, leading market position, brand recognition, and vertically integrated platform that set them apart in the growing market. They do provide a superior value proposition and benefit from the endorsement of their Connected Fitness Subscriptions, giving them a competitive advantage versus the traditional fitness services. However, there are areas to which competitors can come in that are their instructors since it’s a technology-based platform other companies can make something similar or even better. In other areas where they can be competitive is the price, other brands offer similar products at a better price or better products for a similar price.
Current campaign
Peloton’s new marketing digital campaign includes testimonials from current customers who were skeptical of the connected fitness brand but since then have become loyal. They launched with “Love Every Journey”, which not only was presented on social media platforms but also across TV, print, and even out-of-home. Their current campaign was expected as earlier in the year not only did their CEO and Co-founder stepped down, but the company also laid off around 2,800 employees.
Their post on their social is what they described with the testimonials on their socials, but they have also promoted their free trials on different platforms, and it can go both ways as effective and not. The TV ads were described with a more aspirational approach, which explained the “why” people buy their bikes or products. As for their competition, they are more focused on their products and selling different versions of them, but they focus more on traditional media rather than social.
Going back to previous product placements that they did for different TV shows where their bike was presented, it took a turn. They portrayed different characters doing their at-home workouts when in both cases something happens to the character that causes them an almost immediate death after stepping out of the bicycle. That isn’t only troubling for their character as a brand but also for how people are going to perceive the bikes and the negative impact they cause to those people.
Krystal Torres 