SoulCycle VP of Product on Leveraging AI to Craft Unforgetable Digital & In-Person Experiences | Drew Lesicko | E246
Nov 27, 2024
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Drew Lesicko, Vice President of Product and Technology at SoulCycle, is a key player in blending fitness with technology. He shares insights on adapting to the pandemic by launching the At-Home Bike and creating a balanced digital and in-person experience. Drew discusses how AI and data analytics drive personalized fitness journeys for riders, enhancing customer loyalty through tailored recommendations. He also explores the future of connected fitness and the importance of community in wellness, emphasizing the intersection of technology and mental well-being.
SoulCycle effectively integrates physical and digital experiences to enhance customer engagement without sacrificing the value of in-person classes.
Utilizing data and AI, SoulCycle creates hyper-personalized fitness recommendations that significantly improve rider retention and engagement.
Deep dives
Integration of Physical and Digital Experiences
SoulCycle has strategically blended physical and digital experiences to enhance customer engagement. The launch of the at-home bike during the COVID-19 pandemic provided a critical lifeline for the business as in-person classes were suspended. Rather than viewing the at-home bike as a replacement for in-studio workouts, it is positioned as an enhancement to the overall SoulCycle experience. This approach has allowed the company to cater to riders’ evolving preferences, fostering a community that maintains an in-studio presence while integrating the convenience of at-home workouts.
Shift to a Subscription Model
Transitioning from a pay-per-class model to a subscription-based approach has been a significant evolution for SoulCycle. The company piloted this model in a single region to gather data on customer adoption, emphasizing the importance of price and perceived value in driving subscription success. By restructuring their offerings around workout frequency, customers were encouraged to engage consistently, leading to higher retention rates. This shift not only stabilized revenue streams but also reinforced the routine nature of SoulCycle's offerings.
Utilizing Data and AI for Personalization
Data-driven insights and AI technology are being harnessed to personalize the rider experience at SoulCycle. By analyzing various data points, the company aims to create recommendation engines that guide users to classes and instructors that align with their preferences. This level of hyper-personalization helps improve rider retention significantly, as it enhances the decision-making process for participants. As the organization continues to innovate, leveraging AI will allow it to better serve both new and existing riders and ultimately cultivate a more tailored fitness journey.
Building a Cult-Like Community
SoulCycle's success is deeply rooted in its ability to cultivate a passionate community around its brand. Riders often express their commitment to the community by wearing branded apparel and engaging with the culture. This sense of belonging is akin to being part of a sports team, fostering loyalty and advocacy among customers. The emotional connection established through various customer interactions further solidifies SoulCycle's position as a lifestyle choice rather than just a fitness brand, enhancing customer engagement and retention.
In this episode, Carlos Gonzalez de Villaumbrosia interviews Drew Lesicko, Vice President of Product and Technology at SoulCycle. SoulCycle, founded in 2006, is a pioneer in boutique fitness known for its passionate customer community. The company has successfully blended physical and digital experiences, particularly during the COVID-19 pandemic when it launched its At-Home Bike. Drew oversees the full digital journey of SoulCycle customers and all technology platforms for the company. He joined SoulCycle in 2018 and played a crucial role in launching the At-Home Bike at the beginning of the pandemic, which helped sustain the business when physical studios had to close.
What you'll learn:
Drew's approach to balancing physical and digital experiences in fitness.
SoulCycle's adaptation during the pandemic, the strategy for blending physical and digital experiences, and the future of connected fitness technology.
How SoulCycle has built such a strong customer community and how they're using data and AI to personalize each rider's fitness journey.
The future of connected fitness technology and SoulCycle's positioning in this evolving landscape.
Key Takeaways👇:
Blending Physical and Digital: Drew emphasizes the importance of making digital experiences additive to the in-studio experience, rather than replacing it.
Data-Driven Personalization: He highlights how SoulCycle uses data on instructor styles, music, and user preferences to create hyper-personalized recommendations for riders.
Adapting Business Models: Drew shares insights on how SoulCycle evolved its business model, including the introduction of subscription plans and the At-Home Bike.
Customer Retention Strategies: He discusses the importance of the first five rides in customer retention and how SoulCycle focuses on guiding new riders through this crucial period.
AI in Fitness: Drew outlines how SoulCycle is leveraging AI to enhance customer experiences, from personalized class recommendations to improved customer service.
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