Today, Peloton goes public. Since its founding, I’ve thought a lot about the company’s model and its ability to keep people motivated and engaged to stay active and healthy. In honor of their big day, I’ve been reflecting on some key lessons from Peloton that we can apply to our work in the corporate learning space:
- Investment drives commitment: There is something about forking over the initial payment for a Peloton bike that creates a different kind of attachment to the program. You’re not just signing a contract at a health club. Rather, you receive your own piece of equipment delivered to your door that can be tailored to your size. And needs. There is anticipation as you wait for the bike, and there is a sense that you are embarking on a journey. In the same way, anytime we set out on a major change initiative or quality campaign, a definitive launch which allows learners to see the thought and planning for the journey sets the program up for success. That’s one of the reasons I’m so motivated by kickoff experiences that set the roadmap, provide essential tools and allow learners to visualize what success looks like. This initial step delivered virtually or in person creates the same kind of attachment that I had to my new bike. Someone has invested in me. I owe it to them and to myself to excel.
- Customization drives commitment: My Peloton bike knows which instructors I like, the length of the ride that makes the most sense for me, and the best way for me to stretch and cool down. My whole experience is tailored to what I need. We have so many clients that want us to help design learning to drive adoption of tools and integration. However, they often deliver with a one size fits all mentality. If Peloton can tell you what type of instructor will drive accountability, we should be tapping into AI and data to deliver very customized instruction that meets the immediate needs of a learner. If we can use analytics to scratch the itch when a learner needs it, we make it more likely for them to come back and explore other tools that could be helpful.
- Energy drives commitment: The reason that I get on my Peloton is because it is fun. There is community as I compete with others on the leaderboard. The instructors are energetic and don’t take themselves too seriously. The whole culture makes achieving goals worth it. That’s a secret for success in any business context. Bring really interesting people to an energetic environment. Allow them to present with passion and create a place for accomplishment. Bring in gamification, competition, and regards. Make learning fun again.
I’m waiting for the bell to ring for Peloton’s trading to begin. However, no matter what happens on the exchange with their stock, I’ve learned a lot from Peloton for our own business. What can that company teach you about the way you learn?