The combination of gamification and blockchain is useful for companies interested in increasing the customer’s engagement, the brand loyalty and, ultimately, their sales.
The reason is simple: the two systems are able to mutually reinforce themselves.
On the one hand gamification stimulates interactions with users / customers and keeps them within the corporate world. On the other hand blockchain technology, with its decentralized information sharing, allows gathering data and makes easier for users to become brand ambassadors.
Which are the benefits of using gamification and blockchain at the same time? Continue reading the article.
Blockchain technology works for gamification as a flywheel that increases the reach of corporate marketing strategies and the participation of users in games. This is due to the fact that blockchain is a disruptive technology, capable of revolutionizing traditional processes, making them much more effective.
For example, blockchain technology improves the collecting, the storing and the protecting of users’ personal data thanks to cryptography. But it also allows users to decide how to protect data and which ones to share with companies.
THE BENEFITS OF BLOCKCHAIN FOR GAMIFICATION
For a long time, only big companies took advantage of gamification. Smaller and local businesses could only afford simpler projects, such as loyalty cards for collecting points and get discounts or small prizes. The effectiveness of these projects was limited, as they did not allow a direct and personalized communication with the customers. Moreover, the collection of data was very limited and not very useful.
The blockchain technology allows even the smallest realities to innovate, as we saw in a previous article dedicated to the benefits of the blockchain for retail.
This innovation is possible because the blockchain allows companies to reach customers also through their smartphones and comunicate with them in a direct and personalized way.
It gives the chance to offer customized game and prizes, to collect real time data, to encourage participation and purchases. At affordable costs even for a small business.
THE BENEFITS OF THE GAMIFICATION FOR BLOCKCHAIN
However, blockchain has its own limits.
It can create real value for companies only if there’s a quick economic exchange between the involved parties.
Blockchain technology is linked to cryptocurrencies, alternative virtual coins that can be used to make purchases.
If users participate in a company’s gamification program, they can collect tokens, virtual coins, and use them to get real prizes.
The problem is that sometimes users prefer to keep tokens instead of spending them, stopping the exchange system. In other words, no value is created.
How to resolve this impasse? With gamification. Through gamification it is possible to ensure high levels of engagement that can lead users to take those actions that produce exchange and help companies to monetize.
It is clear that the relationship between gamification and blockchain is more complex and we just simplified it to make it clearer.
Anyway, we want you to understand that the combination of these 2 systems is the key for companies to:
– retain customers,
– push people towards certain behaviors that produce economic value,
– get more data in order to offer more personalized messages and programs,
– maximize the ROI of marketing strategies.