Gamification? Sounds familiar? Is it like that spin-the-wheel thing? Yeah, but there’s more. What if I told you that gamification is so much more than just that spin-the-wheel?
Before we jump into some interesting facts about gamification, let’s look at what gamification actually is and what it has to do with customer engagement?
What is Gamification?
To be put simply, gamification means applying game mechanics into non-game environments, say, for example, games you can play in your mobile banking app to win a reward, or games you can play in an LMS tool to learn new things or take a quiz. The possibilities are limitless and the market is quickly catching up to them.
Do you know the global gamification market is currently valued at 11.69 billion USD and is expected to grow at a compound annual growth rate of 12.9%? It’s getting bigger than ever.
So why is gamification so popular and is it really that effective a tool?
Yes. Gamification is designed on the canvas of human behavior. We all like to play and love to win. It brings a sense of achievement, challenge, and motivation.