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How Peloton is Marketing a $2,000 Bike Beyond the Rich - WSJ
By Alexandra Bruell
Oct. 25, 2017

When Carolyn Tisch Blodgett joined fitness startup Peloton as its brand marketing lead a year-and-a-half ago, the company’s executives were focused on promoting the functionality of their product -- a $1,995 stationary bike with an attached tablet and a $39-a-month subscription service for access to live and on-demand classes.

What they were missing, however, was a compelling brand story about the bike’s convenience and its role in connecting riders around the country, largely through a leaderboard that displays rider data, said Ms. Blodgett.

“My challenge over the last year-and-a-half has been telling this brand story,” she said. “We wanted to bring the product to life but also the brand.”

Ms. Blodgett also conducted research showing that the company had been targeting a core, affluent audience, but overlooking a less affluent consumer who was willing to splurge on a convenient fitness habit.

Peloton is now shifting gears with a new financing program ($97 per month for 39 months for both the bike and subscription service), an ad campaign that’s more relatable to a diverse consumer base and an NBC Olympics sponsorship.
Peloton  fitness  storytelling  brand_identity  brands  data_driven  connected_devices  subscriptions  overlooked  overlooked_opportunities  functionality 
october 2017 by jerryking
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