Whatever the industry, brands will continue to battle it out for top spot until the end of time. It’s rare that we see a brand blow away its competitors for a sustained period and completely monopolize the industry in the process but that is exactly what global tech giant Fitbit did.
In less than a decade Fitbit went from being a hopeful startup that almost died seven times in the initial stages according to CEO James Park, to a tech powerhouse worth over $4 billion.
So how exactly did Fitbit dominate the wearables industry? We take a look at the strategies that turned the once-faltering startup into one of the most recognisable global brands on the market.
Fitbit decided to incorporate a process that saw them strive for improvement rather than perfection on all their products. There’s been a constant stream of new gadgets released ever since the very first Fitbit model launched at the end of 2009. The Ultra followed soon after in 2011, which included an altimeter, digital clock and stopwatch feature. The following year, Fitbit launched the One and Zip which were the first fitness trackers to be completely wireless.
In total, Fitbit have produced 18 different fitness trackers in just nine years, what makes it even more impressive is in 2015 they didn’t launch anything and still sold 18 million fitness trackers.
Explaining the data
Over the years Fitbit’s sleek desktop dashboard has helped to provide consumers with an extra level of reassurance and knowledge to their workouts. Before Fitbit was around, there was very limited information available to consumers regarding their heartbeat and fitness levels, calories burnt during exercise, all whilst tracking your daily steps. Fitbit empowered people to take ownership of their exercise.
This was a key strategy for the wearables brand and helped to cement Fitbit’s position as a giant in the fit-tech industry. By creating and building an environment where friends and family could compete against each other this led to an influx of fitness communities all around the globe. It became part of people’s fitness regime and the communities began to share and engage with each other over their results.
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Fitbit took the decision to partner up with leading fitness and wellness businesses, realising that challenger brands in the industry could strengthen their position in the market. Fitbit could begin to target a larger demographic they wouldn’t have been able to reach.
They teamed up with Habit the world’s first complete personalised nutrition solution. Habit use Fitbit data to create tailored food recommendations and nutrition plans for consumers.
Another partnership was formed with Peloton, a company that makes peddling at home so realistic you’d think you were taking part in the Tour De France. The use of Fitbit data enabled Peloton customers to monitor their improvement and progress all in one app.
Fitbit’s data partnerships have resulted in a 37% growth of their active user community grew.
Park realised they had to revamp the brand and find a new revenue away from the tough consumer market if they wanted to continue their growth, it was decided corporate wellness was the answer. Fitbit Care was designed to promote wellness, and improve disease management and prevention through health coaching, digital interventions and personalised care plans.
Health care costs pose a challenge to employers, so a platform that could help employees with conditions like obesity, diabetes and heart disease could turn out to be a great success for Fitbit.
The Fitbit Care launched in September, so it will be interesting to see if Fitbit’s latest move can help continue their success.
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