From being an ancient spiritual practice, Yoga has grown today to become a big business catering to premium lifestyle. In the last four years, the number of takers and the spending on Yoga practices and products have increased dramatically. You will be surprised to know that, over 30% of Yoga Journal subscribers in the US have an average household income of over $100,000. The sudden increase of interest has led to more teachers pouring in and training studios coming up. Yoga business is widely spread around the world and divided in to various discipline mentioned below:
- Yoga Studio
- Yoga retreat centers
- Yoga product retail & online stores
- Online yoga classes, tutorials and courses
- Digital material (yoga dvds, ebooks etc)
- Yoga therapy and healing consultants
Do you own a yoga business? The below statistics will blow your mind and will help you to understand the tremendous business opportunities in the field of yoga.
Growth of Yoga Industry as a Mind & Body Practices in USA
National Center for Complementary and Integrative Health has published the research statistics on most used mind & body practices in 2012. According to their statistics, more than 9.5% of American adults (21 million people) are taking up yoga classes. In 2002, this was a mere 5.1% and 6.1% in 2007. The same is the case for children. In 2012, more than 1.7 million American kids (comprising 3.1% of the underage population) have been introduced to yoga. This is a significant increase when we turn our attention to other alternative therapies and practices. Yoga certainly has many health benefits but the reasons for popularity of the meditative exercise have been the non-intrusive nature of the practice. People in the US are opting for Yoga sessions to reduce stress, improve overall physical fitness, body flexibility and mental health.
5th Fastest Growing Industry in USA by 2017
According to Statista, the Yoga & Pilates industry is expected to grow into 8643.8 million dollars and will become the 5th fastest growing industry in USA by 2017.
The growth figures point toward a huge opportunity for those who are and are looking to establish themselves in yoga industry. According to statisticbrain data last verified In 2013, $27 billion was spent in USA on Yoga products like yoga mats, towels, yoga apparel/costumes, blocks and straps, props, accessories and even training DVDs. Here is the yoga demographic and statistics for your reference:
And if you refer the Google trend statistics mentioned below, you will see the increased stack of the yoga which is steadily growing over time.
Now the most important question for you is;
Are you ready to acquire this opportunity?
Your competitors are already started making leap into this ever growing industry. As an example; when I search with “yoga” on Amazon, it lists over 384245 results today! This result clearly indicates the current scenario of the industry. If you are a yoga teacher, a studio owner, a retreat owner, yoga eCommere website owner or any business that can include yoga as one of its products, this is the time to make some haste!
If you are up for the challenge, here is the 9 steps proven plan to revamp your yoga business to acquire this growing business
#1 Have a Beautiful Website
First and foremost, you will need a business website that appeals to the possible takers. Simplicity of design and user friendly UI is the key. Always remember that these are premium customers you are targeting and they won’t mind paying. Just invest in a web designer who would be able to create an interface that will allow your audience to connect with the service. Be it an ecommerce platform or a retreat website, make it user friendly and responsive. If already own a website and want to check the basic performance, visit official Google PageSpeed Insight tool.
#2 Local Business Presence
If your business is targeting local audiences, it is very important that you show up in local search listings of popular search platforms like Google, Yelp or Yellow Pages. The percentage of people getting introduced into Yoga is increasing by 25% globally each year. As search queries increase it is crucial that they find your business. Many tourists would be looking for local yoga classes and this should be your catch point.
#3 Social Media Engagement
80% of the literate population in the world is active on some social platform every day. For businesses, this could be a huge opportunity to attract attention and increase your leads. Investing in Facebook, Instagram, Twitter and Pinterest marketing can leverage your brand to a great extent. Social media engagement has been the key drivers in several industries and especially with wellness programs and products like Yoga. You can easily engage with your audiences by sharing your yoga poses, useful yoga information and can divert those connection into leads.
#4 Have Mobile App
According to eMarketer.com, there are over 1.75 billion Smartphone users and expected to reach this figure to 2.5 billion till 2017. If you are still avoiding mobile audiences then you are losing huge business opportunities from it. By having mobile app about your business, you can not only target these audiences but also can offers additional facilities to your existing customers. Lets for example; allows your customers to book their yoga session directly from their smartphone can make their booking experience easier.
Here is the best example of few popular Yoga Mobile applications enjoying the benefits of mobile platforms.
Yoga.Com Android App Statistics
#5 Use of Video Promotion
Specifically applying to individual yoga personality, yoga studio and retreat owners, videos can be a powerful platform to showcase the quality of indulgence they can expect at your premises. Marketing on YouTube videos will give them a prior visual experience, encouraging their motivation to opt for the sessions. Again, remember that these are premium customers and will settle for the best experience.
As for example DoYouYoga.com portal launched a series of “30 Day Yoga Challenge” on YouTube with 30 videos and getting millions of hits on them. Using video promotion Yoga industry can make their visual brand as well as they can earn money by video monetization technique. Check here:
#6 Improve Productivity with SaaS products
For effectively managing your yoga studios or programs, SaaS (Software as services) products are very helpful. You can easily manage entire yoga studio which includes:
- Showcase multiple yoga session with calendars
- Manage multiple yoga teachers and distribute the sessions accordingly
- Online booking and payment collection
- Populate emails announcing new sessions or updates about the session
- Manage multiple yoga studios from your PC
This solution will empower your productivity and can enhance your business by eliminating non productive efforts and can help you to focus on your core expertise which is Yoga.
#7 Paid Marketing
Paid marketing is the best way to acquire a new business by investing smartly in various paid channels like Google Adwords, Facebook Paid advertisement, Twitter ads etc. I have seen good conversion rate for most of our eCommerce client that is vary from 1.5% to 7% from Google adwords channel.
#8 Content Marketing
Content is the life blood of internet and can make or break your brand within small timeframe. It is everywhere you look or listen. Content marketing through in house blogs and publication is a valuable tool to attract prospects and convert them into customers. The type of content should be closely related to what you are trying to sell. With a spiritual product like yoga, you should be able to inspire trust and confident through your content.
#9 Active Participation in local events & festivals
Yoga is more of an activity and you need to showcase your quality through practical means. Organize boot camps, beach lessons, yoga on water and other innovative activities that will make news and get the attention of your target demographics. You can also attend yoga festivals being held by various organizations around the world. Such activities will help you to built strong networks amongst peers and will give boost to your brand popularity.
The statistics clearly shows the tremendous growth of Yoga Industry and being a business, you must re-think your marketing and business strategies to stay ahead with your competitors.
How OLBUZ can help you?
OLBUZ places itself as one of the leading agency having vast experience working in Yoga and health industry. Through our innovative IT products and marketing strategies, we can help your business grow in both length and form. OLBUZ curates highly personalized IT services and caters to precise business requirement, making you an effective online leader in your industry.
Need any help to boost your Yoga Business? Contact us now!