![]() ![]() Gamification enhances the investor-advisor relationship by building more trust and transparency. ![]() Gamification allows wealth managers to add value to the value chain by including product development, marketing, and customer education. Leveling up the Money Game: Wealth Management As they measure movement, those wearables provide the opportunity to customers to optimise the cost of their insurance when they provide data from their devices. Fuel band and Spotswatch are tools that have successfully been launched and entered the market with great success. Today, gamification is key to Nike’s strategy. With a download growth of over 45%, the app users spend 3 times more than guest customers. It is an app that uses data to track customers’ runs and monitor exercise duration as shown below: Hence, Nike’s response to falling behind famous running brands was to develop both software and hardware-based solution that depend heavily on games: The Nike Run Club. Like Under Armour, Nike is under pressure as Adidas outpaces rivals in North America. By creating an avatar, customers try out the shoes and navigate through a virtual world, bouncing on clouds and sharing their experience on social media. In 2018, Nike China has teamed up with Kennedy Shanghai to produce a three-minute game, allowing customers to try Nike’s Epic React shoes on treadmills in stores across Shanghai, Beijing, and Guangzhou. With the use of game techniques, business processes are more interesting and appealing.īy introducing the sneaker try-on game, Nike has taken gamification to the next level. In the financial services world, gamification is about customer-centricity. ![]() Gamification enables financial firms to add value across the entire value chain and promotes the understanding of game mechanics that allow people to be engaged and map their ideas to desired business outcomes. With the aim of inducing innovation and engagement, this growth reflects the use of gamification systems to architecture human behaviour. The figure below shows the value of the gamification market worldwide in 20. Valued at USD 10.19 million in 2020, the global gamification market is expected to reach USD 38.42 million by 2026, growing at a Compound Annual Growth Rate of 25.10% over the period 2021-2026. Lowering the barriers of established behavioural norms, ‘gamifying’ offers new rules and realities by influencing creativity and learning. With the aim to attract and motivate users, trading has merged gradually with an interesting advanced domain: gaming. With the advent of improved and fancy technological features, trading is no longer considered to be an elite activity. ![]()
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January 2023
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