- Gamification uses gaming elements to drive customer engagement
- Gamification market exploding at CAGR of 45 percent
- Market is expected to hit $23 billion by 2022
By 2022, gamification is expected to be a $23 billion dollar industry, an estimate of income that would place the fast developing sector, if it were a nation state, ahead of Malta, Iceland, Monaco and about 50 other countries. It’s already a significant business, with a value, in 2015, close to $2 billion, and it’s experiencing phenomenal growth – a CAGR of over 45 percent – due to advances in digital technology and the exponential growth in the use of smartphones and mobile devices (http://ibn.fm/NOldr). Gamification is being increasingly recognized as an effective way to engage online visitors and convert them into customers. Now, encouraged by these trends and the growing passion for gaming, particularly in the Asia-Pacific region, DeepMarkit Inc. (TSX.V: MKT) (OTCQB: MKTDF) has launched its proprietary promotions platform, ‘Gamify’. Currently, it is the only public company focused on the burgeoning gamification sector.
Gamification is a way of harnessing the characteristics associated with our game-playing inclinations to achieve business and marketing objectives. It is an approach that incorporates gaming principles into phases of the customer engagement process or designs aspects of the process as games. It is proving to be a potently effective way of evoking a positive customer response, no doubt because of our naturally playful nature. The impulse to “play” appears to be encoded in the DNA of Homo sapiens. It is our natural pursuit as children and, as adults, our game playing goes on, driven by our delight in socializing, our demand for status, our need for self-expression, our competitive instincts, the desire to develop and master skills and many other psychological factors.
The DeepMarkit platform – Gamify – has been designed to encapsulate many of these properties by a team that has been developing games successfully for 15 years. Darold Parken, DeepMarkit’s president and CEO, was instrumental in building Chartwell Technologies, later sold to Amaya Gaming, now known as The Stars Group (NASDAQ: TSG), a company with a market cap that’s close to $8 billion. The Gamify platform uses games and gaming elements to generate leads, to promote products and deliver rewards, and to build brand awareness and customer loyalty. With it, customers can build branded games that incentivize audiences, generate leads and drive sales (http://ibn.fm/q5k7Q).
Gamification can improve conversion rates, turning visitors into customers. Having large numbers of visitors to an ecommerce site is just a starting point and contributes nothing to the top line if they leave without taking action. Typical “bounce rates” – the percentage of single interaction visits to a website – are around 50 percent, i.e., about half who visit an online store exit a click or two later. Consequently, incentives that increase their desire to stay play a vital role in closing sales.
The DeepMarkit Gamify platform is designed to reduce bounce rates. Through the use of unique branded games, the platform turns visitors into players, players into leads and leads into sales. It integrates a variety of gaming elements with interactive advertising and powerful visuals, including 3-D images, and is flexible enough to be scaled for campaigns of all sizes. The platform is also suitable for multi-channel and omni-channel approaches that incorporate web, mobile and social media. At present, both free and paid solutions are available (http://ibn.fm/fsUkA) on many major ecommerce platforms, including Shopify, BigCommerce and WooCommerce, and also as a plugin for WordPress, which opens the way for easy and broad adoption.
Gamify also offers a selection of easily customizable gaming apps featuring a customer’s branded e-store in addition to tailored landing pages, technical support, real-time analytics, data collection and an engaging marketing campaign. The platform’s patent-pending app comes complete with unique user incentives that draw consumers in with games and prizes, which in turn engage shoppers, turning them into buyers and brand promoters.
In June 2017, DeepMarkit attracted a $1.5 million investment from Allstate International LLC in Hong Kong. The investment gives Allstate a 10 percent stake in DeepMarkit and an opportunity to bring the Gamify platform into the growing Asian gaming market
For more information, visit the company’s website at www.DeepMarkit.com
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