Greetings from New York!
I am currently on a U.S. tour to setup our company foundations for retail & franchising while also strengthening the °CRYO distribution network.
My tour started in New York where I have been visiting many cryotherapy centers to understand how the treatment is being positioned by providers and experienced by clients. New York has 45 cryotherapy centers, most of which are single location businesses. One of the key takeouts so far is that the communication of the benefits of cryotherapy is very fragmented and not unified. Every cryotherapy provider has their own methodology on the number of sessions required for different goals, and the educational materials used to inform the clients is not consistent.
The three main reasons for one operator being more successful than others are:
- The operators’ knowledge on cryotherapy.
- The educational marketing and outreach of the business in order to continuously raise awareness about cryotherapy.
- The consumer journey provided from discovery to actual treatment.
The main take away so far has been that most of these businesses are not investing much into marketing; especially digitally. Because the industry is still at its infancy – even with these great growth rates – educational marketing is vital to fuel and grow the category and consumer pool.
Our marketing efforts have been recognized by HubSpot, as we have used their tool to grow our sales by 146% over the past year. Please read the article here.
Our outreach efforts to grow the cryotherapy industry through our digital assets and investments will be at the center of our perpetual growth. With our beta version of the CRYO Platform coming closer to launch date, our strategy and beliefs in the business plan are becoming more validated by our on going discussions with business owners and customers who will be using our platform.
Last month the International Institute of Refrigeration launched a Working Group on cryotherapy – as an initiative concerning the standardization of exposure protocols according to the characteristics of individual users and the desired effects of the treatment; to standardise temperature measurements inside all existing WBC devices; to develop safety instructions for cold exposures; to promote WBC methods in all possible fields of application. Another welcome initiative which fuels research and medical studies further.
The adoption of cryotherapy by the sports community always experiences a spike in the summer ‘off-season’ installations, and this summer was no different. But the continuous use of cryotherapy by Floyd Mayweather and Conor Mcgregor before the big boxing fight in Las Vegas later in August has brought a welcome spotlight to our treatment.
Until next month… Stay young!
Chairman, °CRYO Holdings