Case Study
A Health Win: Trainwell Increases Trial Conversions by 20% by Accepting HSA/FSA Payments
Trainwell stands alone by offering affordable personalized workout plans 🏋🏻, one-on-one online training, and the option to pay with HSA and FSA.
September 9, 2024
Sam O'Keefe
Co-founder & CEO of Flex
Overview
Overview
Overview
In the increasingly digital-only fitness space, Trainwell keeps the personal in personalized workout plans thanks to a human touch.
It starts by pairing clients with one of the company’s certified personal trainers. After an initial assessment and virtual call, the coach then tailors a fitness plan to meet the client’s unique goals and training style. Net-net, clients get all of the accountability and expertise of a personal trainer with the flexibility of a fitness app, so they can work out anytime and anywhere while still getting real-time feedback.
To further help customers personalize their fitness plan, Trainwell wanted to empower clients with more ways to pay.
Payment Options Matter for Customers on Their Fitness Journey
Since COVID made work-and-workout from home a thing, consumers have been looking for more ways to take control of their health and fitness, including how to pay.
Trainwell started by going right to the source — insurance companies — but found a lot of red tape. Then their customers surfaced an alternative:
“We started seeing a lot of people reaching out asking if they can pay for the service using their Health Saving Account (HSA) or Flexible Spending Account (FSA),” shares John LaGue, the COO of Trainwell. “Some clients were already figuring out the process on their own but we wanted to simplify things to allow all clients to experience the cost-savings.”
On average, consumers save 30 to 40% percent on purchases they make with their HSA or FSA because they are tax-advantaged tools.
The Ability to Pay With HSA or FSA Pays off for Trial Users
Trainwell began working with Flex to accept HSA and FSA payments.
To test the reception, 50% of trial customers were presented with an opt-in option to receive information about HSAs and FSAs and how they can use them to pay for Trainwell’s personal coaching.
About 1,000 free trial users opted in — no difference in trial rate signup compared to the control — but the outcome was significant:
Trainwell saw a 20% lift in conversion from free trial to 3-month subscription for the opt-in group.
Clients Can Stay Focused on Their Fitness Without Sweating the Price
Trainwell is optimistic about an improved retention rate for the cohort as well, once the 3-month subscription is up. And looking towards the holidays, they are excited to see how consumers respond to an annual subscription when motivated customers have remaining FSA funds that are about to run out.
Stats
1,000 free trial clients opted in to receive HSA/FSA education emails
20% increase in trial conversions for HSA/FSA opt-in group
In the increasingly digital-only fitness space, Trainwell keeps the personal in personalized workout plans thanks to a human touch.
It starts by pairing clients with one of the company’s certified personal trainers. After an initial assessment and virtual call, the coach then tailors a fitness plan to meet the client’s unique goals and training style. Net-net, clients get all of the accountability and expertise of a personal trainer with the flexibility of a fitness app, so they can work out anytime and anywhere while still getting real-time feedback.
To further help customers personalize their fitness plan, Trainwell wanted to empower clients with more ways to pay.
Payment Options Matter for Customers on Their Fitness Journey
Since COVID made work-and-workout from home a thing, consumers have been looking for more ways to take control of their health and fitness, including how to pay.
Trainwell started by going right to the source — insurance companies — but found a lot of red tape. Then their customers surfaced an alternative:
“We started seeing a lot of people reaching out asking if they can pay for the service using their Health Saving Account (HSA) or Flexible Spending Account (FSA),” shares John LaGue, the COO of Trainwell. “Some clients were already figuring out the process on their own but we wanted to simplify things to allow all clients to experience the cost-savings.”
On average, consumers save 30 to 40% percent on purchases they make with their HSA or FSA because they are tax-advantaged tools.
The Ability to Pay With HSA or FSA Pays off for Trial Users
Trainwell began working with Flex to accept HSA and FSA payments.
To test the reception, 50% of trial customers were presented with an opt-in option to receive information about HSAs and FSAs and how they can use them to pay for Trainwell’s personal coaching.
About 1,000 free trial users opted in — no difference in trial rate signup compared to the control — but the outcome was significant:
Trainwell saw a 20% lift in conversion from free trial to 3-month subscription for the opt-in group.
Clients Can Stay Focused on Their Fitness Without Sweating the Price
Trainwell is optimistic about an improved retention rate for the cohort as well, once the 3-month subscription is up. And looking towards the holidays, they are excited to see how consumers respond to an annual subscription when motivated customers have remaining FSA funds that are about to run out.
Stats
1,000 free trial clients opted in to receive HSA/FSA education emails
20% increase in trial conversions for HSA/FSA opt-in group
Flex is the easiest way for direct to consumer brands and retailers to accept HSA/FSA for their products. From fitness and nutrition, to sleep and mental health, Flex takes a holistic view of healthcare and enables consumers to use their pre-tax money to do the same.