NetworkNewsWire Editorial Coverage: E-commerce
continues to see steady growth, thanks in part to growing markets
and in part to clever gamification and analytical tools.
- Gamification uses the psychology of video games to encourage
shoppers to spend money and share information.
- The addition of analytics lets retailers better understand
their customer base.
- China and India will soon have nearly 2 billion smartphone
users, vastly increasing the e-commerce market.
DeepMarkit, Inc. (TSX.V: MKT) (OTC: MKTDF) (MKTDF Profile) is
tapping into all these trends, creating an adaptable gamification
app for online retailers that provides analytics while attracting
customers. This app can be used on the platform provided by
Shopify, Inc. (NYSE: SHOP), which is
now one of the biggest online retail venues and actively encourages
its merchants to make use of gamification and analytics.
Amazon.com, Inc. (NASDAQ: AMZN) has made
effective use of gamification from early on, with ratings systems
that encourage sellers and reviewers. Microsoft Corp.
(NASDAQ: MSFT) supports
online retail through its cloud solutions and has recently teamed
up with Walmart to challenge Amazon for online dominance. For any
online retailer, Alphabet, Inc. (NASDAQ: GOOG)'s Google
Analytics is a crucial tool, providing insight into customers and
their behavior.
The Power of Making Shopping Fun
Gamification is one of the most powerful tools in the world of
modern marketing. It's the application of game-like features to a
nongame platform to allow people to engage utilizing a video game
industry concept. For marketing, that means getting potential
consumers to pay attention to a company, buy its products and
services, and even provide that company with valuable information.
This innovative tool is expected to make the gamification market
worth $2.8 billion during the next two years.
Gamification works by tapping into human psychology. Games are
rewarding for a variety of reasons. They allow players to feel a
sense of achievement, master part of their environment and express
themselves. Games can be an opportunity to socialize through
playing together, in addition to talking about the experience with
others. Games even provide opportunities for players to gain status
among others in the same playing circle. If customers experience
those same opportunities while shopping with a company, they are
more likely to hand over their cash and information in exchange for
the thrill gaming brings.
Getting into Gamification
Eighty-seven percent of American retailers plan to use
gamification over the next five years. One of the companies helping
these companies achieve this goal is DeepMarkit, Inc. (TSX.V: MKT) (OTC:
MKTDF).
DeepMarkit provides easily accessible gamification for
e-commerce stores. Its range of games is customizable, allowing
retailers to customize their approach to follow and reinforce their
brand. Compatible with major website providers such as Shopify,
WordPress and Wix, DeepMarkit's platform allows anyone running an
e-commerce site to add a game element to their shopping experience.
Shoppers can then play games that offer discounts chosen by the
retailer.
Some of the benefits of this approach come from the shopping
experience. People using Gamify games enjoy their experience and
are more likely to return. And when customers win a discount, they
may buy more products to make the most of the opportunity.
But Gamify does more than motivate customers to return to a
business site. It provides a way for retailers to encourage
shoppers to join the site's mailing list, opening up one of the
most powerful marketing channels available. It also provides
real-time analytics, providing retailers with invaluable feedback
that helps them better understand activity on their sites.
The popularity of gamification is reflected in DeepMarkit's
sales. The company is seeing an average of 61 percent
month-on-month growth in its customer base, with hundreds of
new customers adopting Gamify games each month.
Adding Analytics
Gamification is useful in itself but becomes more powerful when
it's combined with analytics, such as those included with Gamify's
games.
Collecting and analyzing customer data isn't new, but it's an
area that has seen significant new growth over the past 10 years as
the internet has made it easier to collect information on customers
and more sophisticated analytical tools allow businesses to make
sense of what they're seeing. For marketing campaigns in
particular, this is a powerful tool that allows businesses to gain
an understanding of where their customers come from and what
marketing they respond to best.
The use of analytics is vital for any modern business looking to
get ahead of its competitors. Revealing which sales and marketing
channels are the most effective helps a business identify and work
with its strengths to leverage the most efficient use of its
resources.
Gamify makes the most of this by adding analytics to its games.
Sites using the app track in real time how many people are using
the games and how many of those are converting to marketing leads.
By changing the setup of the game, administrators of the sites can
test what works best in attracting customers and how much value
they're seeing from this approach. By drawing attention to the game
in different channels then looking at when the most users arrive to
play the game, Gamify can reveal how people are finding out about
the site, an invaluable source of marketing data.
Tapping into Emerging Markets
Now is a critical time for engaging with customers online.
Thanks to mobile phone accessibility, emerging markets are seeing a
huge growth in the number of people with access to the internet.
According to one estimate, nearly 2 billion people will be using
smartphones in China and India alone by the end of this year.
This widespread adoption of mobile technology is creating a huge
opportunity for businesses.
Gaming is one of the most popular pastimes for mobile users.
They're often looking for entertainment through their phones,
drawing them to sites with games. By becoming a source of
entertainment through a product such as Gamify, retailers can draw
in more customers and even more importantly more repeat
customers.
Now is a good time for businesses to get a foothold in emerging
markets, as many smartphone users are just starting to build their
habits and online brand loyalties. Gaining consumer attention
during this developmental stage could potentially put businesses
ahead of the game. The interest in leveraging the opportunity to be
part of this burgeoning business in Asia is illustrated by the
decision made by Allstate Enterprise Consulting, a private Hong
Kong company specializing in discovering and creating quality
assets. Last year, Allstate purchased enough shares in DeepMarkit
to become a 10 percent owner of the gamify business.
Big Business and Gamification
As the power of gamification becomes more widely recognized, big
businesses are making use of it, sometimes subtly, sometimes less
so. LinkedIn contains examples of relatively subtle gamification.
The site displays the strength of a user's profile, providing a
scoring system for how well the site doing. It also offers users
ways to increase this score. This encourages those who use the site
to build stronger profiles by displaying the behavior that LinkedIn
wants, sharing more information and building stronger networks.
Pokmon Go is at the other extreme. The whole app is a game
designed to encourage increased play, connections, and ultimately
spending of real-world money on digital products. By providing
different ways for players to achieve and connect, it has become
one of the most widely used apps in the world.
Smaller businesses can't achieve these same giddy heights. But
with companies such as DeepMarkit making gamification accessible to
all, anyone can incorporate games into their marketing
strategies.
The World as a Playground
The adoption of gamification by a wide range of companies means
that people are constantly playing, even when they don't know
it.
As one of the world's leading retail platforms and home to more
than 600,000 merchants, Shopify, Inc. (NYSE: SHOP) is a
company that clearly understands what sells. The company has not
only made gamification possible through its platform but has also
offered guidance to merchants on how to use it. From
progress bars to competitions to adding fun design elements, it
covers the fundamentals of making these techniques work for a
business. The platform also allows programmers to add new gamified
elements, with companies such as DeepMarkit creating
gamified apps for Shopify.
The rise of global retail giant Amazon.com, Inc.
(NASDAQ: AMZN) has been
driven in part by the gamified elements of the site. Allowing
people to rate reviews encourages reviewers to write better and
more often because of the sense of achievement and public
recognition this brings. Top reviewers write regular, informative
reviews to get to the top of the reviewing game. This can even lead
to more substantial rewards as companies offer incentives to top
reviewers.
Microsoft Corp. (NASDAQ: MSFT) has now
become a major player in the online retail game, thanks to a
strategic partnership with Walmart. As the two work on
competing with Amazon for retail dominance, these companies will
have to use every trick and tactic available. Microsoft's cloud
solutions promise to make online shopping quicker and easier.
Behind the scenes, the company has the technology to gather
incredible amounts of data and use that data to direct effective
marketing.
Alphabet, Inc. (NASDAQ: GOOG) provides
one of the most important tools for e-commerce in the form of
Google Analytics. This service allows businesses to see where their
customers are coming from, who they are, and what they're doing on
the site. It's so central to modern commerce that few retailers can
get by without it, and Shopify offers guidance on setting it up for
all its merchants.
As the world increasingly goes online, e-commerce will only
continue to grow. Gamification and analytics are valuable tools in
creating customer engagement. When they're tied together, they can
be particularly powerful.
For more information on DeepMarkit Inc., please visit DeepMarkit Inc. (TSX.V: MKT) (OTC:
MKTDF)
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