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Peter Wannemacher

It’s the latest craze sweeping the nation… No, I’m not talking about Fruit Ninja, I’m talking about gamification.

There's a reason "gamification" is the buzzword on the tip of so many tongues these days. It takes ideas and structures from games - the video kind and other types - to guide companies in their quest to affect consumer behavior. So should digital strategists at banks and financial institutions use gamification to meet their business objectives?

We’ll get to that, but for now let's start by clarifying what we're talking about. Forrester defines gamification as:

      The insertion of game dynamics and mechanics into non-game activities to drive a desired behavior.

These mechanics come in many shapes & sizes – SCVNGR, a mobile game developer, has a list of more than 40 – but here’s a quick list of four major ones:

·         Points. The most basic element of gamification, points is any type of virtual currency – or, in a few cases, IRL currency. Digital strategists at banks & credit card companies have used this tool for years in the form of rewards points. 

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