5 Year Frontier
#7: AI entrenches vertical SaaS, predicting customer behavior, global wellness in 2024, and the future of fitness w/ Mindbody CEO Fritz Lanman
Jan 15, 2024
Fritz Lanman, CEO of Mindbody, discusses the evolution of software ecosystems, predicting customer behavior, embedded finance, and the global appetite for fitness in the industry. He explores the growth and vision of MindBody, partnerships between vertical SaaS and FinTech, potential collaborations with fitness influencers, and the global adoption of health and wellness practices.
24:31
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Quick takeaways
- Vertical software platforms in the fitness and wellness industry have evolved to become growth engines and profit centers by using AI and machine learning to acquire and retain customers.
- MindBody's network effects, derived from its vast data sets, consumer distribution, and developer ecosystem, enhance its position as a leading vertical software platform in the fitness and wellness industry.
Deep dives
The Evolution of Software to Ecosystems
Software platforms in the fitness and wellness industry have evolved from basic payment and scheduling systems to comprehensive suites of tools including branded mobile apps, CRM, and analytics. The focus now is on becoming a growth engine and profit center for businesses by helping them acquire and retain customers using AI and machine learning.
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