We are well aware that payments and commerce services have entered the digital phase, but are consumers really interacting that much with these new services? Companies must consider the incentives that can be used to drive more interaction with digital services. A new strategy that companies are now implementing to keep the engine running is gamification. Gamification essentially transforms the way customers are compelled to interact with the services being offered by utilizing different interactive incentives.
Here are two use cases highlighting gamification’s positive effect in the commerce domain:
1. SessionM offers mobile publishers a platform for adding game mechanics to their apps, including a rewards system called mPoints. Developers have witnessed a 35% increase in retention rate and a 25% lower bounce rate after integrating SessionM.
2. As part of an ongoing strategy to attract a younger demographic and extend the reach of their existing marketing, ACE Hardware retailers all over the country embraced FunMobility Mobile Engagement Platform, which included:
FunMobility proposed a holiday-themed Mini-Game in the form of a spinner. Around 5000 customers received an SMS message which took them to a dynamic mobile web page containing the mini-game. The coupon could then be won after spinning the wheel.
Result: 26% SMS click through; 37% Post-Click Engagement; 15% Redemption
Gamification has its applications in the banking sector as well. It has the potential to help banks influence consumer actions pertaining to banking activities. Below are some of the potential benefits and applications of gamification in banking:
Here are some use cases of gamification in banking that have already been implemented:
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