Fitness App GymPact Uses Monetary Incentive to Motivate Exercise
Individuals are putting their money where their bout is with the mobile app GymPact. They commit to how many days per week they want to work out, verify workouts via the GymPact app, and earn cash rewards if they meet their commitment - paid for by the non-exercisers. Users have have been 90% successful in exercising on committed days, with their own cash on the line.
"People are lot more motivated by the thought of loss than the thought of reward," GymPact co-founder Yifan Zhang. "Everyone else is giving out points or badges or cash. But nobody's really thinking about ways we can use negative motivation to help people meet their goals."
GymPact was founded by Harvard students who realized that the extra monetary kick of having your own money on the line helps limit excuses and get people moving. Individuals make a Pact of how many days a week they plan to exercise and how much they would be willing to pay if they do not reach their goals. Every time they go to the gym, they simply check into the GymPact app which verifies the user is at a gym through the smartphone's GPS system. Users can also track outdoor runs, walks and bike rides.
At the end of the week, if a user reaches their goals they receive real cash rewards that come from the couch potatoes who didn’t work out that week. The average user is rewarded about 50 cents for each day they make it to the gym.
GymPact officially launched on iPhone on January 1st, 2012 and launched on Android January 1st, 2013. During this time GymPact users have completed an impressive 1 million+ total workouts and stuck to their goals 92% of the time.
If you would like additional details please contact:
Marissa Window - GymPact PR/Social Media Lead
603 682 8918