WHAT’S WRONG WITH THIS PICTURE?
If you answered, “The ‘smart guy’ wearing TWO devices that sort of do the same thing Matt,” you hit the nail on the head!
So I’ll begin by saying this… It’s not every day that I give away million-dollar business ideas for free; but on rare occasions, I’ll do it for products or companies that I like, and only for the purpose of solving a problem (which I happen to be very good at—not bragging, just facts based on experience; but I digress).
Now, what you see in the image above is a major problem.. and has been since the release of the first Apple Watch. Let me explain…
As an iPhone user, the practical choice for a smart wearable, for me, is the Apple Watch. The problem that I have as a competitive person though—one who has a ton of friends that wear FitBit devices—is that the only way I can participate in their steps challenges is by wearing a Fitbit device; but who wants to walk around like that 👆🏾(see picture above), all day… EVERY DAY?? 😳 (Raise your hand if you too are in that boat 🙋🏽♂️🙋🏾♀️🙋🏼♀️)
And now for the money…
The above problem is very easily resolved (and in a rather lucrative fashion) with the following solution…
FitBit should write and release an Apple WatchOS version of their FitBit device software, make it a free download, then have it pair with an iOS version of their FitBit app, which would also be available as a free download, but must be activated by signing up for a subscription (monthly or yearly). Have a FitBit user account already because you still have a FitBit but don’t use it anymore? That’s an easy fix too. The FitBit app already has a built-in device manager; simply have users sign up for the iOS service subscription when they add a new Apple Watch to their user profile. Easy peasy! And what’s more? Everyone’s happy. Non-FitBit subscribers get the benefit of wearing whichever smart device they choose and still get to enjoy the challenges that are unique to FitBit. FitBit as a company gets the benefit of capturing revenue from a market segment they could not previously crack into. (Believe me, regardless of how cool or feature-rich it might be, no new FitBit device is going to get die-hard Apple Watch or Samsung Gear S heads to swap out their devices; and even fewer are going to do what you see me doing in the photo above.)
So in conclusion, by creating and adding the above offering to their suite of product services, I am of the very strong opinion that FitBit stands to earn far more revenue on recurring subscriptions than they ever could on new device sales alone… but enough from me. Now, I want to hear from you. Are you someone who traded out your FitBit device for a shiny new Apple Watch, but misses participating in the FitBit steps challenges? If you fit that description, would you sign up for a “FitBit for Apple Watch” subscription? I know I would!
(P.S. James—yes, that one 😆, though this article has a bit more of an Apple-centric focus, I don’t think I need to tell you that you expand that revenue by creating an Android version of the same for the folks who traded out their FitBits for the Galaxy Gear line of smart watches 😉.)
And thus ends the free million dollar idea for a product I like that has a problem wherein the proposed solution benefits all parties involved. (To whet your appetite, I’ll tell you that I have a free, problem-solving/revenue-increasing idea for Apple as well—for a totally different product… but I’ll save that for a future post.)
Please share your thoughts in the comments section below.
All the Best!
—MT
Matt D. Talford is a writer, narrator, and author of three books: “Stuck In An Elevator” – a fictitious tale of passion and self-discovery; “Captain’s Mate: A Practical Guide for Tennis Captains, League Players and High School Coaches”; and his award-winning debut title: ”From Fear to Faith: A Survivor’s Story” – a memoir about overcoming a rare form of what he calls “the C-word.” All three books are currently available in paperback on this website, www.talfordarts.com, or at Amazon; and in eBook format on Amazon Kindle and Apple iBooks. “From Fear to Faith: A Survivor’s Story” is also available in audiobook (narrated by Talford himself) at iTunes, audible.com, and at many other sites where audiobooks are sold. For information on these and other products, visit www.talfordarts.com.
