36% of Companies Are Monetizing Data Like Planet Fitness
Jan 17, 2024
Are you monetizing your data from your company and customers? A recent report shows that 36% of companies are already doing so and in the next two years this could be up to 52%. One of the leaders in fitness is doing this now. Planet Fitness launched the PF Media Network and leveraging its data.
DATA IS WORTH MORE THAN IT USE TO BE...
Data Monetization is an emerging discipline;
β΄ Projected to hit $15.5 Billion (22.1% CAGR)
β΄ Deloittie survey report 36% of CIOs report Yes
β΄ 16% more expect to monetize in the next 2 yrs
This is not a surprise considering 95% of companies will digitally consume some outside KPI data by 2023 and the value of data with the use of LLM/AI. We are seeing this playout in fitness with some keystone brands also...
π Planet Fitness announced the release of the "PF Media Network" which has a 3 pronged media and data sales approach;
β email marketing program
β video or static units on in-club display
β data sales for marketing and campaigns
Planet Fitness reports having 18.7 million members in over 2,500 locations with over 40 million check-ins per month. Some even more impressive data when Zoom media was providing services;
πΆ 100,000,000 Monthly Impressions
πΆ 95% run errands within 2 hours of a gym visit
πΆ 79% in a positive mindset = more receptive to ads
πΆ Avg income: $71K / 55% millennials / 45% GenZ and Baby Boomers
π‘ In regards to the positive mindset, I read a book with a great data point on this and it stated the same thing. When people are working out they are like 2X - 3X more receptive to content/ads making the gym a great place for advertising and content consumption.
π Last but not least, In the world of artificial intelligence. Your data and how it is structured is super important because as Mindbody CEO said recently "AI is not something all of us should be building, but all of us should be training with our proprietary data sets". There are plenty of applications and opportunities to leverage what you have and gain great efficiencies with your own unique data π
π The Bottom Line, Your Data Is Worth More Than You Think Today! I'd Love To Hear How Others Are Using Their Data With AI and Monetization....