Marketers Need to Sell Experiences, Not Products

“When your workout is a joy, it’s a joy to work out.”

It’s a nice spin on words by Peloton Interactive that focuses on the experience.

But behind the new tagline, the marketing is driven by deep discounts rather than how a Peloton makes you feel.

It’s a marketing strategy driven by economic realities.

Sales have sagged as people return to gyms rather than exercising at home.

Meanwhile, Peloton’s stock price has fallen by 75% from its all-time high during COVID.

Lower prices are a curious approach because Peleton’s strength is its community.

Peloton is not about the hardware and software but being part of a global tribe.

You establish affinity with instructors and connect with fellow riders around the world.

It’s how many people think about Apple. It’s not the hardware but being part of something bigger.

This is probably why Apple is a logical company to acquire Peloton (along with Apple’s strength in logistics).

While Peloton needs to jump-start sales, deep discounts smack of desperation. Please buy our bicycles!

If I was the VP of Marketing, I’d put the experience front and centre and, as a bonus, make it easier than ever to jump on the bandwagon.

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