If you like staying fit and for that you go to the gym, gym app on the iPhone by offering something new that is offering cash incentives. GymPact iPhone app, alternative methods to encourage us to stick with out fitness regimens that uses those old behavioral economics to help us to do just that.
GymPact is a check-in app that offers cash incentives to get you off the couch and into the gym. The service gets you to create a “Pact” over how many times you’ll make it to the gym over the course of a given week, and how much money you’ll be willing to fork over if you don’t meet that goal. When users live up to their pacts (by way of checking in at the gym on their phone), they earn cash rewards, paid for by those lazy people who didn’t fulfill their quotas. If they don’t, they pay that $10 to the community.
If you do meet your goals, the startup gives you cash rewards from the collective pot of those who didn’t meet their goals, with GymPact taking a 3 percent fee based on those transactions. And to discourage drive by check-ins, users must stay at the gym for at least 30 minutes for their check-ins to count. However, Pacts are made on a weekly basis, and users can change or freeze their pacts until Sunday night, when GymPact tallies your total attendance.
So, rather than focusing solely on rewards like badges, points, prizes, or even cash, GymPact is betting that the real driver of behavior is negative motivation — that people are motivated more by loss than by gain. Pavlov and I, on the other hand, just prefer to ring a bell. And ply with treats. However, through this negative approach, GymPact saw its users going to the gym on 80 to 90 percent of their committed days during its six-month trial. Apparently, just a $5 commitment is enough to get people to the gym three or four days a week, Zhang says. And the $1 average for cash rewards isn’t much, but it’s enough to reinforce that achievement. That small change can add up.
From: http://www.gym-pact.com/
App On: http://itunes.apple.com/us/app/gympact/id456068701?mt=8
If you do meet your goals, the startup gives you cash rewards from the collective pot of those who didn’t meet their goals, with GymPact taking a 3 percent fee based on those transactions. And to discourage drive by check-ins, users must stay at the gym for at least 30 minutes for their check-ins to count. However, Pacts are made on a weekly basis, and users can change or freeze their pacts until Sunday night, when GymPact tallies your total attendance.
So, rather than focusing solely on rewards like badges, points, prizes, or even cash, GymPact is betting that the real driver of behavior is negative motivation — that people are motivated more by loss than by gain. Pavlov and I, on the other hand, just prefer to ring a bell. And ply with treats. However, through this negative approach, GymPact saw its users going to the gym on 80 to 90 percent of their committed days during its six-month trial. Apparently, just a $5 commitment is enough to get people to the gym three or four days a week, Zhang says. And the $1 average for cash rewards isn’t much, but it’s enough to reinforce that achievement. That small change can add up.
From: http://www.gym-pact.com/
App On: http://itunes.apple.com/us/app/gympact/id456068701?mt=8
