The health and wellness industry has been on an upward trajectory in recent years. People are not only concentrating on being healthy but are also putting a lot of effort into wellness. They have learned that by amalgamating conventional medicine and a holistic approach to well-being, they will lead a happy, healthy and peaceful life.
To put things into perspective, health and wellness are described as a process that an individual follows to achieve spiritual, physical, and mental well-being. Additionally, research has also shown that people are now spending money on experiences rather than fashion as compared to earlier times.
With the health and wellness industry booming, in this blog, we cover industry stats, steps to building online health and wellness consulting platform, the amount of capital required, and why you should build an online consultation platform.
Industry Statistics of the Health and Wellness Industry
- As per a Statista report, the size of the wellness market worldwide is projected to grow to almost 7 trillion U.S. dollars by 2025.
- In 2021, the health and wellness industry generated 5.3% of the global economic output.
- More people are choosing to travel for wellness, given the numerous physical, mental, and spiritual benefits of exploring the world. Wellness tourism is gaining traction and stands at 17% of global tourism expenditures.
- The growth rate of the health and wellness industry is 5.5% CAGR from 2021 to 2030.
Why Should you Build an Online Health and Wellness Consulting Platform?
Health and wellness consultation platforms bridge the gap between clients and professionals, apart from that it has numerous benefits for both the parties, along with the admin.
Benefits of Online Health and Wellness Platform for Professionals
- Improve individuals’ access to health, wellness, and care
- Help reduce the health and wellness costs
- Provide high-quality community to seekers
- Get feedback from seekers
- Is more accessible
Benefits of Online Health and Wellness Platform for Clients
- Is cost-effective than physical visits
- There is no need to travel
- Digital prescription
- Reduced risk of infections
- High quality of interaction as per availability
Additional benefits include
- Reduces the workload and time for 1-on-1 meetings.
- It adds an additional income.
- Aids in improving the overall health of the clients.
- Builds credibility
- You keep up with the latest technology
Now that we have learned about the benefits of online health and consulting platform, let’s have a look at the steps of building it.
Building an Online Health and Wellness Consulting Platform
To build an online health and wellness consultation platform the following steps are required:
To operate a health and wellness platform it is vital to adhere to different rules and regulations. For example in the US, compliance with HIPAA and in Canada compliance with PHIPA is essential.
Conducting market research gives the basic idea of what the market needs, and what the competitors are providing. It also helps in getting a basic idea of how to proceed forward and establish the Online Health and Wellness Consultation Platform.
Identify your Target Audience
Consumer Behaviour is the primary driving force for your business decisions. So It is important to identify your audience and their personas. It is always a good idea to segment your target audience and consider their interests, demographics, and obstacles of each persona. For example, somebody might be looking for yoga, who is a beginner, or there might be a more senior audience. To cater to them effectively, you will need to adjust your strategy and messaging.
Have a Business Plan
A concrete business plan aids you in making wise and focused business decisions. Define your unique value proposition, the user experience you would want to provide, customer service, selection of products and services, and more. Having a website for your online health and wellness consulting platform is also a part of having a business plan.
Have a Marketing Plan
The marketing strategy plays a big role in the success of your business. After launching your business, you need to tell people about it as it will be essential to market your services for attracting and retaining customers. This can be done by:
- Social Media Marketing
- Video Marketing
- Content Marketing
- Paid Ads
An online business can’t be run without technology. So your health and wellness platform should use technology in a way that appears seamless. It should be easy for clients to make a purchase or communicate with your platform. You can leverage different technology, like social media management software and email list campaign software to enhance your marketing.
How Much Does It Cost to Build an Online Health and Wellness Consulting Platform?
Diving into the health and wellness industry is not an easy feat. Although it is generally achievable with a strong will. Here we have outlined two common approaches to starting online health and wellness consulting platform.
- Have a Custom Built Health and Wellness Consulting Platform- All health and wellness consulting platforms are different in terms of functionality and complexity. The largest cost-driving factor of a custom-built health and wellness platform will be the number of features to be added and the amount of time needed to implement the logic. Still, on average, custom-built health and wellness consulting platform can cost above $5000.
- Opt for a Ready-made Software to Launch the Online Health and Wellness Consulting Platform- Pre-built software can help in launching your online health and wellness consulting platform in less time without taxing your patience. On average, the cost of a ready-made software starts from $2000.
The satisfaction rate from virtual consultation has been recorded as 99% since the onset of Covid-19, so starting online health and wellness consulting platform can be rewarding. And, with one on one consultation and effective communication, clients can connect with healthcare and wellness professionals of their choice. Moreover, with the right consultation marketplace software, you can kickstart your online health and wellness platform in less time.