Why Financial Marketers Should Use Gamification

Using gamification in your insurance or financial services marketing strategy could be a game changer for brand awareness and engagement.

Gamification can be the ultimate branding strategy for increasing awareness and engagement. Games offer the unique opportunity for direct interaction with positive association that can transform consumers into advocates of your brand.

Gamification also can be an interesting differentiation strategy, particularly in industries not yet familiar with it. The use of games in a marketing approach has been known to drive sales in highly competitive markets, making it a great way to distinguish one’s self in the insurance and financial services fields.

According to “Actionable Gamification: Beyond Points, Badges, and Leaderboards” author, Yu-kai Chou:

Gamification can make the biggest impact in industries that are extremely important but relatively mundane. These include fields like Healthcare, Education, Finance, Wellness, and Corporate Governance. It can also a make big impact in fields that are extremely competitive, and organizations need to differentiate in order to survive. This includes eCommerce, retail, entertainment, and mobile apps.

 

Level Up Your Engagement

The use of games in your marketing strategy can be a powerful and engaging tool for increasing response rates with astonishing results. When we make games for our clients, users are engaged at a more active level, spending more intimate time with the brand and increasing conversion rates.

Not only is gamification a unique way to create positive association for your brand, product, or service, but it is also entirely permission based.

Consumers freely choose to engage with your game. Depending on your objectives, adding a competitive element to the game may also get you closer to your conversion goals while driving social shares and awareness.

If you’re not sure where to begin with brand gamification and are wondering how it could work in your industry, take a look at the game we created for our client, Forrest T. Jones. By using the game to educate their audience, Forrest T. Jones put a positive spin on professional liability insurance, increasing policies sold by 44.2%!

Is Gamification the Right Strategy for Your Brand?

Before you move forward with gamification, you should determine if it is the best fit for your overall strategy. Use this checklist to determine if gamification aligns with your business goals.

Gamification is an innovative strategy for brands that seek to:

  • Educate customers
  • Show value of products to target audience
  • Engage proactively with customers
  • Increase sales
  • Motivate leads to purchase
  • Boost brand awareness
  • Augment digital user experiences
  • Build relationships with customers
  • Enhance their customer-oriented business model
  • Influence consumer behavior
  • Collect data to gain a more in-depth understanding of customer needs and preferences
  • Demonstrate an understanding of those needs and preferences
  • Identify and improve internal processes
  • Convert mundane tasks into fun experiences
  • Collaborate with partners

If you checked all or most of these objectives, then gamification could be quite a powerful tool in your multi-channel strategy.

Come play with us! FARM has created interactive, branded mini-games for clients in various industries, always yielding exciting results. Let’s talk about how we can incorporate gamification into your financial or insurance marketing strategy!
Call 716-989-3200 or Send an email to Jill Fecher

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