LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global gamification market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global gamification market is expected to grow at a CAGR of more than 30% during the forecast period. Gamification applications can enhance customer engagement by providing real-time information about consumer behavior. This enables businesses to influence their customers’ market responsiveness as well assist in decision-making capabilities. These businesses use the available data to have a competitive edge over the others and maximize customer experience. Another major factor driving the market is the increasing number of companies finding value proposition in investing in employee engagement gamification techniques to help increase productivity.
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The top three emerging market trends driving the global gamification market according to Technavio research analysts are:
- Increasing penetration of customized marketing
- Social media acting as a marketing platform for gamification
- Gamification through mobile devices
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Increasing penetration of customized marketing
It is a huge challenge for any brand to spread information about products and market. Considering the diverse population, doing the same has become more sophisticated. Customers not only browse the internet for entertainment but also for information related to online shopping. Buyers role is no longer limited to being an online shopper but a technical consultant for the rest of the population who are planning to make a purchase. As many of these consumers spend time reviewing, voting, and blogging about the products, businesses should ensure that there is a customized gamification for opinion leaders and their followers.
The rewards could heavily depend on the number of followers that attract and influence the behavior of modern-day customers. A high number of businesses are moving from a product-centric marketing approach to a consumer-centric approach. This will ensure that more customized gamification solutions are available in the market to provide the target audience a fun-filled and an engaging platform to do business with them.
Social media acting as a marketing platform for gamification
In many organizations, social media is an innovative marketing platform to showcase their products and services and receive instant feedback. Social networking sites have gained traction, which will increase during the forecast period. The use of gamification in social media is no different as content sharing and collaboration for employees within the organization will also increase.
According to Ujjwal Doshi, a lead analyst at Technavio for gaming research, “Business integration of social networks and gamification will enhance the customer experience by engaging them in a meaningful and real-time collaborative conversation. As more customers use gamification, brands will need to deploy innovative gamification techniques, which in turn, will increase the growth of the global gamification market.”
Gamification through mobile devices
For businesses to stay relevant and competitive, they need to develop a strong customer relationship. One of the primary ways of doing this is through understanding customer trends and acting upon it. If businesses are going to deploy gamification as a way for customer interaction, they should also be aware of where and how to use them. Mobile devices are considered as the best way of reaching out to customers. Vendors will need to develop gamification applications on mobile devices for their clients.
“Based on the gamification technique, businesses can help in predicting the future purchases of customers by analyzing their buying patterns and purchase history. This data can be extremely beneficial for the sales teams to seek opportunities and for the utilization of lead management,” says Ujjwal.
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