Mike Lee, Chief Digital Officer at Under Armour, explained that the partnership is an example of how Under Armour is exploring new ways to utilise its data and bring value to its growing community.
“We’ve learned through our combined network of more than 180 million members that people want an easy way to find and book fitness classes to ultimately improve performance. This new feature will serve the vast studio network of MINDBODY as well as the millions of athletes who continue to harness MyFitnessPal to meet their goals and perform their best,” he commented.
With a goal to double its annual revenue to $7.5 billion by 2018, Under Armour has ramped up its focus on connected fitness this year. “We want to be known as the dashboard of all things health and fitness,” explained chief digital officer Robin Thurston at a press conference in late 2015.
Spending over $700 million on driving its digital strategy forward, aside from the potential for generating direct revenue through its digital community, the global sportswear company recognises the importance of the personalised data it can collect through it.
Declaring data to be the new oil, Under Armour CEO Kevin Plank argues that businesses with the ability to understand their consumers through data are the ones that are going to win.
In the case of Under Armour, data amassed from users of their digital platforms such as MyFitnessPal is being used to drive business decisions, as well as boost sales through individual product recommendations across all of its segments.
It’s a long-term business strategy, but as the company continues to establish an internal ‘math house’, Plank argues that with a better picture of their consumer, Under Armour will be able to make better decisions, build even better products and empower consumers to live healthier lives.
With a combined network of more than 180 million members, Under Armour’s partnership with MINDBODY will play a big part in helping Plank reach that goal.