In the ever-evolving financial sector, staying ahead means embracing innovation. One of the innovations financial businesses can embrace is marketing gamification, where it has emerged as a dynamic tool transforming the financial services landscape. In an era where digitalization is reshaping customer interactions, financial institutions can leverage gamification to boost engagement and redefine their customer experience.
This article explores the impact of marketing gamification in finance, shedding light on its benefits and strategies, with real-world examples.
What is marketing gamification in finance in a nutshell?
Gamification in finance involves transforming routine financial processes, activities, and marketing tactics, into enjoyable and engaging interactions. It's about infusing game mechanics into the more serious world of finance to boost customer engagement and product knowledge, to name a few goals.
Marketing activities in finance demand precision and knowledge of the different services available, yet gamification introduces fresh approaches to encourage better investments and engagement. It doesn't mean turning financial activities into children's games but making traditional operations and choices enjoyable by integrating game elements. The impact of gamification in finance extends to attracting new and potential customers, educating current ones on the different financial products and services available, increasing loyalty, and much more.
Benefits of gamification in finance
Marketing gamification holds immense potential, offering benefits for both customers and financial organization:
- Attract new customers
- Engage current customers & improve user experience
- Change the mentality surrounding financial activities
- Increase brand loyalty
- Collect valuable insights
5 financial gamification strategies to consider implementing
To successfully utilize marketing gamification in finance, consider these tried-and-tested strategies:
- Permission and awareness strategy:
Utilize gamification campaigns, such as luck-based or skill-based games, to acquire new marketing permissions and raise awareness about your services.
- Educational strategy:
Implement gamification, especially knowledge-based games such as quizzes & personality tests, to educate potential and current customers on the extensive possibilities related to savings or investments.
- Incentive-driven savings & investing strategy:
Leverage marketing gamification campaigns to reward savings or investments, offering enticing incentives like prizes, cashback, or exclusive services to enhance customer engagement.
- Data-driven optimization strategy:
Employ gamification campaigns as a tool to collect behavioral data, providing valuable insights to optimize your services, support systems, customer services, and marketing strategies.
- Sustained engagement strategy:
Use gamification to maintain audience engagement and stay top of mind. This can include strategies tied to local events, seasonal holidays, and other occasions, ensuring a continuous and interactive connection with your audience.
Let’s dive into examples
Below we will introduce examples of gamification in finance for different types of financial services.
Pro Løn - Are you familiar with the new maternity rules?
Pro Løn is a Danish company providing a straightforward and convenient payroll administration system for businesses.
- Goal of the campaign: Educate accountants on recent changes to maternity and paternity leave regulations and promote Pro Løn's "New Maternity Law - Understanding the Rules" course.
- Type of game: Interactive quiz - "Are you familiar with the new maternity/paternity rules?"
- Campaign description: Pro Løn utilized gamification to engage accountants in understanding the impact of 2022's new regulatory changes on salaries during maternity and paternity leaves.
- Incentives to participate: Participants were offered a chance to win a complimentary enrollment in the new maternity and paternity law course offered by Pro Løn and receive a free guide about the law.
- CTA: Sign up to receive our free guide, plus participate in our contest to win a free spot in our course.
Pro Løn - What type of payroll accountant are you?
Pro Løn did another gamified campaign, this time to collect valuable data insights about their audience.
- Goal of the campaign: Engage their target audience by offering a playful personality test while gathering valuable insights into the preferences and personalities of potential and current customers.
- Type of game: Personality Test - "What type of payroll accountant are you?"
- Game description: The quiz, comprising 10 multiple-choice questions, aims to unveil participants' personalities in the context of payroll accountancy. Insightful questions, such as "You must implement a new salary system in the department. How do you feel about it?" provide valuable insights about Pro Løn’s target audience.
- Incentives to participate: Discovering what type of payroll accounting they were, and a chance to win tickets to Pro Løn's annual event, valued at 2,250kr (approx. €335).
- CTA: There was a CTA at the end to learn more about Pro Løn’s annual event.
Krifa - Fall wheel of fortune
Krifa is a trade union and social security fund based in Denmark.
- Goal of the campaign: Collect new marketing permissions and drive awareness and engagement.
- Type of game: Instant-win wheel of fortune campaign with a Fall theme.
- Game description: The game was used to invite cold subscribers to engage in a fun leaf-surrounded game with the possibility to win small and big prizes instantly.
- Incentives to participate: Possibility to win 100kr (approx. 13€) in takeaway or a big prize of 1.000kr (approx. 135€)
- CTA: Plus, at the end of the experience, they drove conversions by saying “You didn’t win the big prize of 1000kr? No worries, you can still get your 1000kr giftcard by becoming a member today!
- 499 unique registrations
- 20 clicks on the CTA to become members
- 10 members from this campaign are still paying members (Over one year later)
Din Sundhedsfagllige A-kasse - Christmas advent calendar
Din Sundhedsfaglige A-kasse is a Danish insurance fund.
- Goal of the campaign: Increase awareness and engagement with their brand. Plus, boost customer loyalty.
- Type of game: Digital Advent Calendar with Playable Elements.
- Game description: Traditionally a Facebook-based Christmas Calendar, the campaign underwent a transformative shift in 2021 by incorporating gamification elements through the Playable platform. The digital advent calendar became an interactive experience, allowing participants to engage with daily surprises, fostering a 6.5-fold increase in daily participation compared to previous years.
- Incentives to participate: Daily surprises and delights for participants behind each calendar door, creating an interactive and rewarding experience.
- CTA: Come back every day until Christmas for more surprises
- 220,000 sessions,
- 16,000 unique registrations, and an
- Outstanding conversion rate of 71.2%
“I almost fell off my chair when I saw the results. The Christmas Calendar performed extremely well, with crazy exposure – 6.5 times more than the year before.”
– Mie Bertelsen, Communication Consultant at Din Sundhedsfaglige A-kasse
Ready to take the plunge and start using gamification in finance?
So, there you have it—finance with a twist! Marketing gamification isn't just fun and games and it's making its mark in the financial services world as we speak. We've seen how Pro Løn, a Danish payroll company, spiced up their marketing by using quizzes and personality tests to keep accountants in the loop. And how Krifa, a trade union and social security fund, used a very simple fall wheel of fortune to get new marketing permissions.
These tactics are for both B2B and B2C players. Whether you're a business streamlining payroll or a company promoting financial health and investment best practices, gamification can help!
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