Outperform your competitors by 26% in gross margin and 85% in sales growth
Organizations that have optimized engagement have customers who buy more, spend more, return more often and stay longer. It’s no secret how important online customers are to business. The secret is how you create loyal online customers. Gamification can dramatically increase all the baseline metrics that represent the lifeblood of your company.
Fact or Fiction: It costs 6 times more to acquire a new customer than it does to retain an existing one. Answer: Who cares? You need to do both. New online customer acquisition can be cheap but creating loyal, returning brand fans can be difficult. You don’t attract loyal customers, you evolve loyalty through meaningful interactions with your brand. IActionable’s Engage Engine facilitates those interactions by providing a platform for greater participation and engagement.
Airlines, credit card companies and financial institutions know this well and have successfully employed these tactics for decades. You keep flying [enter airline here] even though costs keep going up and customer service keeps getting worse – all because you need that platinum status, first class upgrades or miles using your credit card. The beauty (or tragedy) is that if you were to calculate the actual value of the ‘rewards,’ it is usually pennies to the dollar spent. Whether you like to admit it or not, you’re playing a game – a game designed to benefit the airline and keep you coming back. We are not suggesting using gamification instead of customer service or to offset a price hike, but rather using it to create a loyal brand following in an increasingly competitive world.
In the ecommerce sector getting customers to come, buy, come back and buy more is even more elusive that in the traditional business sector. There are a lot of competitors out there and more coming every day. Gamification can increase all the baseline metrics you need, from time on site, pages per visit, items purchased, pictures uploaded, shares on twitter, likes on facebook all the way to shopping cart abandonment rate.
“Gamers are 20% more likely to be an online shopper than the average non-gamer. Gamers are now being recognized as highly-conscious consumers with a great deal of clout within their social circles…”