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Brand Management
Peloton
Brand Repositioning Strategy and Service Proposal
The Brief
A communications-based solution to re-engage Peloton consumers, improve the brand's reputation and regain its positioning as the top-tier connected-fitness option
Who Peloton Is
A publicly-traded connected-fitness company whose brand promise is to bring the community and excitement of boutique fitness into the home, through immersive and challenging workouts that empower people to be the best version of themselves anywhere, anytime.
Peloton's Business Problem
"It is clear that we underestimated the reopening impact on our company and the overall industry"
The return to in-person settings and post-Covid reality influenced a decrease in demand for Peloton equipment, leading to a plummeting stock price and million dollar losses.
John Foley, Former CEO
The Marketing Problem Behind the Business Problem
The brand's promise of community is ubiquitous and empty. Peloton became an empty class signifier of luxury that people were no longer proud to represent.
The Reframed Marketing Outlook
In order to remain relevant and re-engage consumers, Peloton needs to provide their community with a purpose and deliver on their promise of helping members become the best version of themselves.
BUT
I uncovered more hurdles
PUSH BACK AGAINST MATERIALISM
34% of consumers say it's important for them to feel like they're part of a brand community that stands for something bigger than the products and services it sells. (Mintel)
BRANDS AS AN EXTENSION OF SELF: WHO'S PELOTON?
60% of US consumers prefer to be associated with companies/brands that align with their values and 69% say it's important brands they buy from follow ethical business practices
SOCIALLY OUT OF TOUCH
A majority of “tuned in” consumers (52%) state that companies’ CSR plans are an important factor that influences where they shop and what they buy; this is three times more than those who say CSR is not a factor.
The Answer
From
A community built around overpriced, luxury fitness gear
To
A community united by their purpose to be the best version of themselves, on and off the bikes
The Strategy
The Issue
Peloton became an empty class signifier of luxury that was easily replaceable. Its community lacks a purpose to bind them together and provide an identity
The Insight
Multicultural, affluent adults feel like the best version of themselves when they make a visible impact in their environment.
The message
Peloton is a community that allows you to be the best version of yourself by creating real impact, beyond fitness goals
Introducing: Purposeful Rides Subscription Proposal
"Walk a Mile in Their Shoes"
The Value of Chasing Problems: Measurements of Success
Improved Brand Value and Growth
By reimagining the brand's promise and providing the Peloton community with an identity they are proud to represent
Increased Consumer Buy-In
By re-engaging the community and offering new services that fulfill a consumer desire: listening to their needs.
Improved Reputation
Through a Corporate Social Responsibility program and partnerships with reputable non profits that are aligned with Peloton's mission
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A Problem of Relatability
