Even though we are all grown up now and take life much more seriously than we used to do as kids on a playground, an enjoyable game still has a good chance of helping us reclaim our inner child.
It is of no surprise that businesses use game principles to attract new and encourage existing customers to perform certain activities or motivate specific behaviors among a target group.
BUSINESSES USE GAMES AS A MARKETING TOOL TO DRIVE CUSTOMER ENGAGEMENT
The first study on the principles of people’s behavior in a game was published in the book Theory of Games and Economic Behavior back in 1944 by Princeton University Press. This work is still relevant despite many games migrating to the computer environment. Furthemore, digitalisation in businesses have enabled game principles to be extended into a non-gaming experience.
A new version of this trend called Gamification addresses the desire for amusement, fun, social communication, reward and self-confidence. Enjoying these benefits, customers feel like they have value and they engage with gamified services.
The largest banks, fintechs and insurance companies are now introducing a new type of loyalty programs which include typical game elements in a mobile app or on a website.
What do people receive while playing gamified loyalty programs? Excitement and rewards. The idea behind this is to create immense value for consumers and make them feel like they have an exclusive relationship with the brand.
Gamification is a great way to straighten the banks’ strategy of providing personalized services and digital channels are perfect for that purpose.
Here are a few examples of how gamification in the financial sector is successfully been used by different banks worldwide as a part of their loyalty efforts:
It is not easy to win and to keep customer loyalty. And gamification comes to the rescue by making banking operations exciting and fun while still being convenient. Winning a rewards makes customers feeling emotionally attached and generates a long-term positive impression about the bank offering the reward. When a person is cheerful, their entire neuromuscular system expresses a state of openness. Hence, the more positive a customer is at the outset, the more likely the bank is to succeed in capturing the person’s attention for the ultimate business proposal. So, by the time they need another type of service, the prior positive experience will encourage them to choose that bank first. Moreover, happy customers will share their success story with their social group, so the bank gains a loyal customer and positive PR.
SOLAR LOYALTY HELPS OUR CLIENTS TO MAINTAIN STRONG POSITIONS IN THE FINANCIAL MARKET. PLATFORM ALLOWS TO IMPLEMENT ALL MODERN IDEAS OF INCENTIVE PROGRAMS THAT ARE TAILORED TO YOUR BUSINESS NEEDS