Two Washington, DC area entrepreneurs are on the verge of launching Nexercise, a new smartphone app that will help millions of people keep their 2011 New Years resolution: A commitment to exercise and fitness.
According to an article in today's Capital Business, "[Nexercise] users select a physical activity, such as aerobics, running or badminton, then choose a workout time of 15 minutes or more. The program uses sensors already built into the iPhone and other smartphones to detect motion and other metrics that verify the activity actually takes place."The founders of Nexercise, Benjamin Young and Gregory Coleman, say the app will also offer rewards and discounts to users, providing additional incentives.
This is an interesting concept and I'm intrigued. However, if a healthier lifestyle, more energy and a leaner physique aren't enough to motivate someone to exercise more; a "free" Power Bar or a discount on a CD certainly aren't going to do it. The rewards will need to be substantial to motivate those who are not self-motivated.
The app does have some value though, especially for those folks who don't belong to a health club where numerous forms of measurement are already provided. The social component that allows users to compete with other smartphone owners or interact on Facebook and Twitter is a unique feature that might generate a viral following. While I'm not certain that I would want to share my weight loss goals and exercise regimen online for all to see, social networking has certainly broken down many personal information barriers far worse than that. Nexercise will allow two friends who live far apart to compete with and motivate one another in real time. That's pretty cool.
According to the Capital Business article, the primary financial model is built around transaction fees from coupon redemption. Though Young clarified on this blog that the app will be free and, "users won't have any additional fees. The transaction fee is a nominal fee (think paypal, ebay, etc) that is charged to the retailers when users redeem their rewards." This is not a fee charged to the consumer like when purchasing a gift card or an airline ticket.
I can think of numerous sponsors who might be interested in supporting a service like Nexercise (though McDonald's isn't one of them).
I'll be following the launch of this new app, which is scheduled for Q2 of 2011, especially since my New Year's resolution is to exercise more.
Good luck guys! I hope this app is successful. Let us know when it launches.
