In the photo: Adriano Gazzerro (Whappy) with Massimo Morbiato (Ezlab), Whappy’s exclusive partner in the creation of Whappy Blockchain Gamification Reward. The collaboration was born a few years ago while working on some shared projects in the Blockchain field, which focused on the traceability in the agri-food supply chain – an area in which Ezlab is one of the main Italian players.
Brand loyalty and blockchain: over the last few years, these two terms have become more relevant for corporate management, especially when thinking about companies’ digitalisation processes.
Nowadays, the company-consumer relationship has become increasingly complex and important.
In order to understand the situation of digital innovation among Italian companies, we analysed data from research carried out by the Digital Transformation Academy and Startup Intelligence Observers:
- The positive trend in ICT budgets – 39% of the companies interviewed are investing more
- Forecast – 2.6% growth for 2019
- The most important areas are considered to be digitalisation and dematerialisation, Business Intelligence, Big Data, development and renewal of management and CRM
In such a situation, if the motivation of internal staff is not supported by the company itself, it will be doomed to failure. In order to achieve the necessary motivation, strong commitment, targeted efforts, structured strategies and time are necessary. We cannot afford to neglect this nor to delegate it to the goodwill of the company management.
This is an urgent situation and companies’ need a solution, and this is why Blockchain Gamification Reward was developed.
Whappy has developed this new tool which will make a difference to loyalty and corporate incentive programs. In fact, it will combine the benefits of game motivational levers with the security of blockchain technology in the management of corporate loyalty and reward programs.
What is Brand Loyalty? Why is it important?
To describe the functionality of Blockchain Gamification Reward, it is necessary to start by defining the concept of Brand Loyalty.
Brand Loyalty includes all the ways in which people express their proximity to a certain brand, and occurs when the customer feels that his/her values, tastes and expectations are represented by the brand.
A customer with a high engagement rate,
deriving from a well-designed loyalty program,
buys 90% more frequently and
spends 60% more than the average customer.
Source: Rosetta Consulting
Besides economic benefits, a high level of brand loyalty improves the company’s image. According to Yotpo’s The State of Customer Loyalty 2018 study:
- 60% of loyal customers talk about the brand with friends and relatives (WOM),
- 3% adhere to a loyalty program,
- 3% agree to pay a higher price than that of its competitors.
This is why we believe it is vital for every company to have customers who have a strong brand loyalty. A company will achieve this by finding the right way to reward customers and by nurturing the relationship which has been built over time.
Blockchain gamification reward: is there a need for such a tool?
Whappy has been working with companies to introduce the logic of gamification for many years. This means applying game concepts to complex processes using a “stimulus-strengthening” logic.
The goal is to simplify people’s lives and make their working reality happier -working happily!
“Gamification is serious for us.
We transform standard, boring and un-motivating activities
into actions that can be stimulating for the user.
A set of activities can generate involvement and loyalty. “
Adriano Gazzerro – Gamification expert and founder of Whappy
Our team uses all the components of videogames (levels, scores, awards, badges, etc.) and adapts them to corporate KPIs (key performance indicators).
Giving sellers a budget is always the same old and boring indicator, the same old formula that has been used for many years.
Why don’t we turn it into a “game” challenge, then? Why don’t we turn sellers into superheroes?
The budget is still the same, but the way to achieve it has changed: you score points, you reach goals and you win prizes through an application on your mobile. It definitely sounds more fun than number charts in black and white.
Does gamification still not convince you? Do you still think it won’t be useful for your business?
You need to know that it is now an accepted reality throughout the world:
Global revenues for games-based training solutions reached $ 2.6 billion in 2016,
and they will account for $7.3 billion by 2021.
Source: The 2016-2021 Global Game-Based Learning Market – Ambient Insight
If you think that Whappy’s applications can only be used in the sales sector, we can assure you that this is not the case: and this is only the starting point of a well-rounded company program, suitable for every department in every sector.
We started with gamification techniques for managing incentives for the sales sector. We then asked ourselves: why don’t we also apply this new operating method to obsolete corporate incentive programs?
Gamification is adaptable companies of all sizes and projects of any kind: from internal training programmes to large product promotions, as well as to sales incentive schemes in retail stores.
What is the most important factor that indicates the success of gamification?
The spontaneous adoption rate, that is the index that measures the percentage of users who choose to install and use the gamification application on their smartphone.
This accounts for more than 90% of users!
So why did we add Blockchain to Gamification?
Blockchain and Gamification may appear as two distant worlds; in fact, they are closely related to each other.
Blockchain offers the tools to certify processes and make gamification systems reliable.
The reward tool developed by Whappy uses technology that, at least for the time being, can boast security to the highest levels: the blockchain.
Despite being quite recent – it was designed in 2009 – blockchain is a technological paradigm that has already had an impressive impact on everyone’s life. As a matter of fact, there are several concrete applications for this system that can certify and validate all information in a certain way.
How? The process is very simple: every single block of our “chain” allows you to uniquely verify the information that passes to the next block. All is encrypted on a “peer to peer” distribution network.
The result is a data chain, which is composed of individual blocks connected together in a shared and immutable way. The advantage is that this creates an open registry. This will be available to everyone at any time, but at the same time, it will be impossible to modify it because of its encrypted mode.
What does this mean?
It means that once the rules and variants of an incentive or loyalty program have been established, it will be possible to start the process without a controlling entity. The system controls itself, self-implementing the rules and without the need for judges or intermediaries. This assures the correct execution with respect to all participants.
It means that companies will have no (or hardly any) management costs and provide their users-customers or employees with a completely transparent process.
Members of loyalty programs who trust management and security programs
generate more revenue than non-members: between 12% and 18% more.
Source: Accenture
What is the biggest advantage of Whappy Blockchain Gamification Reward?
Whappy Blockchain Gamification Reward combines the potential of incentive, loyalty and rewarding programs, gamification techniques and blockchain security in a single digital tool.
The Benefits of Whappy Blockchain Gamification Reward are:
- transparency in the loyalty program,
- a trusting relationship between the parties,
- the credibility of the project: motivation and trust,
- automatic and reliable execution of identification / awarding processes,
- almost no management costs.
Moreover, it is a user-friendly tool that significantly reduces management costs, thanks to the use of reliable and scalable data.
Administrative management and internal control constitute a significant burden for corporate businesses. Thanks to blockchain technology, control will be completely autonomous and it will be regulated by a smart contract included on our gamification platform, which has proven to be effective.
Smart contracts are IT protocols that facilitate, verify, enforce, negotiate and execute a contract, which also allows for the partial or total exclusion of a contract clause.
On the website blockchain4innovation.it, we can see why they are different from traditional contracts. The execution of Smart Contracts derives from a computer code that processes the information collected, providing the contracted parties with objective judgment.
Many advantages, no contraindications
A company that takes part in this technological revolution will certainly be successful.
Blockchain and gamification make it possible to optimise and reorganise production departments, encourage staff development and motivation, support sales networks and organised retails.
New digital technologies can unlock unexpressed potential and give space to new and revolutionary areas of development.
We are now at a turning point: thanks to Whappy, the cumbersome loyalty programs that used to require huge investments (but with poor performance and unstable adoption rates) are now just unpleasant, distant memories.
Only 50% of customers involved in loyalty transactions it’s really active;
despite having received a prize, 20% of users do not redeem it.
90% of the data collected in loyalty projects is not subsequently used for BI actions
Source: Bond Loyalty Report
Thanks to the use of blockchain technology, acting as a support for its gamification tools, Whappy is making a breakthrough: it will provide new insights into the buzzing gamification world.
Farsighted companies will have a tool which will allow them to obtain numerous benefits. They will develop winning business models, based on scalable technologies which will generate concrete solutions.
Whappy Reward Blockchain creates value for the companies of the future, because there is nothing better than gamification for successfully managing incentive and loyalty projects.
If you wish to see its real potential, book a free call with our experts.
