Strategic Renewal & Business Model Diversification

The task
Freeletics is a provider of digital fitness coaching "anytime and anywhere" with personalized training plans. The company had grown strongly until the start of the project and the future market prospects for the core offering were also very positive. At the same time, the pressure increased due to the intensifying competition, as well as new offerings e.g. with “smart” devices or digital live offerings. For this reason, the management decided with the help of venture.idea to strategically renew its competitive position and to diversify the business with new offerings that would create new competitive advantages for future profitable growth in the medium to long term.
The project
A core theme of the project was the systematic development of newer offerings that generate new competitive advantages for future profitable growth in Freeletics' competitive environment. In addition, it was part of the project to establish the appropriate methodology in the company and to accompany the company in the process. This included the establishment of an innovation approach (for the systematic development of innovations aligned with corporate goals), a new organizational model (in order to work cost-effectively and efficiently on the above-mentioned challenge in view of the size and scope of the existing, growing core business) and a new methodology (to reduce project risk without compromising the quality and depth of the results).
The result
After completion of the project, Freeletics repositioned itself as a multi-product company with a second novel business model. In addition to its previous core business (Freeletics Coach), the company launched the innovative STADIUM offering - the world's first strength gaming experience that enables strength training, gaming experience, AI and intelligent training equipment. At the same time, the company was enabled to carry out projects like this independently in the future.