Mindbody Invests in Unique AI Features to Help Wellness Businesses Thrive
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Sponsored By mindbody
Mindbody is helping gyms of the future prosper thanks to a trio of artificial intelligence features
Mindbody, a leading software provider for top fitness and wellness brands, is taking one of the tech industry’s most cutting-edge software tools and applying it to perhaps the fitness industry’s most promising sector.
The California-based brand recently launched three new features fueled by artificial intelligence (AI). While all are applicable to any fitness business, they carry extra weight for those involved in wellness, which remains a surging element of the fitness landscape.
The first of these new features is called Clients At Risk, which allows Mindbody to predict when a gym or studio member is losing motivation to continue booking classes or sessions and helps get them back on track. There’s also the Big Spenders feature, which uses a machine learning model to help studios identify high-value members and put more effort into retaining them, followed by the AI Assistant, which uses OpenAI’s GPT-4 to answer software questions around the clock.
As AI has evolved quickly, we are able to use our unique data and technical expertise to help our customers get concrete value out of these new capabilities. – Jay Kelly, Director of Product, Mindbody.
“All of our AI products are aimed at helping our customers thrive, while making operations more efficient and allowing them more time to focus on their business and their clients.”
Easier Lives for Operators
Mindbody’s efforts to help clients improve productivity begin with labor management. These new AI features, specifically Big Spenders and Clients at Risk, help brands make strategic investments with their time and energy.
To identify a big spender, Mindbody deploys an AI/ML algorithm that monitors purchasing history, attendance behavior and learning patterns over time. It then delivers a list of candidates who might be interested in purchasing additional services, upgraded memberships, or are just individuals worth going the extra mile to retain.
“Our Big Spender feature provides an automated list of clients to a customer to help pinpoint any future, high-value prospects, meaning a client who can disproportionately benefit the business,” said Kelly. “The data can help a business determine the effort they may want to take to retain a potential high-spender, such as offering an incentive to visit again or providing more tailored marketing messaging.”
Credit: Mindbody
The Client at Risk feature also plays to an operator’s advantage. After identifying anyone who might be on the verge of canceling or pausing their membership with a data-driven prediction, it alerts businesses to reach out with marketing tactics of their choosing. It’s a retention tool that tackles the issue of losing members head-on.
For anyone struggling to properly use either feature, the AI Assistant is there to provide support. This bot works tirelessly to make sure customers get the most out of the Mindbody software. Not only is the AI Assistant operational at all hours of every day, but it’s loaded up with over 4,000 help articles, ensuring its ability to solve simple and complex predicaments fast.
Credit: Mindbody
“AI Assistant is trained on the entire Mindbody support system,” said Kelly. “It can help with answers to customer questions, give step-by-step directions, and provide links to additional or other relevant articles.”
A Nod at Wellness
These AI features promise to make a difference for any fitness brand, but especially those tapping into wellness. Mindbody’s network of wellness brands is among the world’s largest. Much of the intel that fuels these AI features comes from that extensive pool.
“As the leading experience technology platform for the wellness industry, Mindbody has an active consumer and customer base which gives us a unique perspective on the industry, as well as powerful data assets,” said Kelly. “Each of our customers knows their own business inside and out, but Mindbody’s ability to analyze data across our network of tens of thousands of businesses enables us to see trends and generate insights that no one business could see on its own.”
Kelly added that the Mindbody app alone allows customers to reach the world’s largest pool of wellness shoppers. He also reported that the average new Mindbody customer generates 36% more revenue within their first six months on the platform.
Embracing AI
With the AI Assistant, Big Spenders and Clients at Risk features, Mindbody is proud to be at the forefront of the AI wave. The brand believes those who don’t start paddling soon and catch it themselves are more likely to wipe out.
“AI is coming faster than anyone thought, and if you are not embracing it right now, you will fall behind,” said Kelly. “It brings so much power to the table that we’re able to harness to help our customers make better-informed decisions. AI is a great lever to pull to run your business efficiently while continuing to generate revenue.”
Mindbody is eager to handle that side of the coin for its clients. Doing so allows businesses to get back to what they do best — helping their clients live healthier lives.
“Most of our customers became wellness entrepreneurs because they love delivering exceptional services to their clients,” said Kelly. “At Mindbody, we see it as our role to ensure that our customers are getting the most benefit from new technologies, like AI, as they emerge. We want them to be able to focus on building their businesses and client experiences knowing that their software partner is giving them the best tools available.”