Most people hate to exercise. But why? What makes it so terrible? Well, it has a lot to do with the benefits being so far away. You've likely heard the old saying no pain, no gain, but the thing is, our brains hate sacrificing near-term pain for long-term gain. But for many Peloton owners, their indoor cycling workout has gone from being a burden to becoming an addiction. How has Peloton gotten people who have struggled to exercise for so long – people like me and maybe like you as well – to commit to regular workouts? Well, Peloton isn't just a bike – it's a social fitness game that uses psychology and behavioral science to hook its users. Join me as we unpack the psychology and behavioral science principles that helped Peloton gain a cult following – and how you can apply some of their strategies to your own business.
Time Stamps
[0:37] – Jennifer opens by discussing exercise and its connection to hyperbolic discounting or Present Bias.
[2:22] – Jennifer talks more about the overall topic of this episode – how we can apply Peloton's strategies to our own businesses.
[3:49] – We learn a little bit more about Peloton, such as when it was founded and why its users are so obsessive.
[4:44] – Peloton gets people on the bike using the Sunk Cost Fallacy.
[5:20] – Default Bias also plays a role in how Peloton gets people on the bike.
[5:47] – Peloton also uses the Halo Effect to get people to use their bikes.
[6:42] – Jennifer explains what causes people to keep getting back on the bike and making it a habit, referring to the habit loop.
[7:18] – We learn about the Mere Exposure Effect.
[7:48] – Jennifer talks about the Simplicity Effect.
[8:23] – The second part of the habit loop is the routine itself, which Jennifer elaborates on.
[9:17] – We learn about parasocial interactions and what they have to do with how Peloton gets users hooked.
[9:55] – Jennifer explains the last part of the habit loop – reward.
[11:17] – Jennifer lauds Peloton for the incredible feats that it has accomplished as a company.
[11:39] – We learn how we can apply some of the behavioral science methods that Peloton uses to our own businesses.
Links and Resources
Thank you so much for listening to the Choice Hacking podcast. If you want to learn more, check out the links below for resources.
Choice Hacking - Instagram Page
Choice Hacking - YouTube Channel
Free 30-Day Trial of Audible Plus
Behavioral Economics – “Default (option/setting)”
Behavioral Economics - “Halo effect”
Reegan Von Wildenradt - “Hugh Jackman Shared His Personal Best Peloton Workout Results on Instagram”
Natalie Sherman - “Peloton: 'It's borderline addiction'”
Charles Duhigg - “How Habits Work”
Sachin Rekhi - “BJ Fogg's 5 Secrets of Behavior Change”
Jeanette Settembre - “Fitness apps with workout plans retain members longer than gyms”
Will Feuer - “Peloton stock plummets after the company reports widening loss, slowing revenue”
Disclaimer: Some resources include affiliate links, which means if you click them and buy something I get a small monetary kickback :)