Industry: Sporting Goods

Revenue: $1.8 Billion

Website: iconfitness.com

Products: Vyze eCommerce and Call Center

The Challenge

Those who love staying fit are no stranger to ICON Health and Fitness, an eCommerce company based out of Logan, Utah. As the largest online manufacturer and distributor of fitness equipment, ICON is behind fitness brands like Gold’s Gym, Nordic Track, and Proform. With an average ticket size of $1,500, ICON knew that it needed to find a way to turn browsers into customers by making its big ticket equipment within customer budgets.

ICON concluded that if it made its fitness equipment more readily affordable with flexible payment options, it would be able to better reach both existing and potential customers that are looking for ways to lead a healthy lifestyle. With an existing payment method in place delivering less than stellar results, the need for a traditional financing program became clear.

Their Checklist

  • More affordable payment options for all customers
  • One simple application that gives access to all financing options
  • Providing customers with a consistent application experience through every channel
  • Delivering a true omnichannel solution through eCommerce and Call Center
  • Adopting a next-gen solution that can support customers today and in the future without requiring additional integration work

The Solution

To support the growing demand for big-ticket fitness purchases, ICON needed a solid solution that could support its eCommerce customer base. Vyze connected ICON to multiple lending partners that would best fit its shoppers. A primary and secondary lender was selected from the Vyze Lender Network to be a part of the solution. Together ICON and Vyze worked to implement the lending platform into ICON’s eCommerce experience, as well as providing the resources and support to offer financing through its call center channel.

How it works

  1. When a customer is shopping on any of ICON’s family brand websites, they have the ability to apply for financing at checkout, while they are browsing the site, or through ICON’s call center.
  2. The customer fills out one application on the website. Once submitted the application is run through the program’s primary lender. If declined the application is instantly prescreened for other offers to find the best match.
  3. Once the customer receives his/her offer they can immediately complete their purchase. Customers can continue to access their credit, as they need it.

The Result

Approval Rate:
42%
Average Financed Purchase:
$1,650
1 Year Revenue Credit Lift:
30%+
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Vyze is playing a critical role in growing our direct-to-consumer business by taking the time to really understand our business, bringing numerous lenders to the table, consulting us on our technical options, and taking on the heavy-lifting of integrating multiple lenders to get us up and running…all while facilitating the best possible customer experience. Now that’s full-service.

Ryan Dunkley – VP of Marketing

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