Gamification, according to the article is: “taking techniques that make games engaging and addictive and applying them to things that are not games.” In particular it’s about providing rapid non-financial recognition and rewards to reinforce positive behaviors.
Chances are that, on you smartphone and/or tablet right now, are several social media and game apps where you can earn badges. Those essentially meaningless little icons that you've played hours to earn and collect.
I have about 15 badges on Foursquare right now, including JetSetter for being in so many darn airports (not all badges are fun to earn!) and Fresh Brew for being in so many different coffee houses (some badges enable addictions).
While the phrase "gamification" annoys me, the concept intrigues me.
The Forbes article does a great job of defining how you can use gamification to onboard employees into your corporate culture and reward them for reaching performance goals.
There 3 Simple Steps Are:
- For each employee, figure out what behaviors have the most impact.
- Make sure those employees know what is expected and have the tools, resources and support required to do what they need to do.
- Recognize and reward behavioral steps along the way as well as end results.
See the Forbes article here
The Forbes article re-inspired me and motivated me to reach into my "Giant Bag of Big Ideas Never Fulfilled" from 2010 - before "gamification" was even a word.
Some examples of internal gamification badges you could create for your staff are:
Do Gooder: Employee with 20 + hours of community volunteerism
Savior: Employee who finds way to lower customers payments
Ada Boy: Employee who receives positive customer comments
But you can also use gamification to increase loyalty and deepen share of wallet.
If you want to affect Gen X and younger, here's an idea...
Could you imagine motivating your customers to deepen their relationship with you through phone app-style rewards? What if each customer had a PURL (personalized URL) that tracked their relationship with you? You could then send email to reinforce positive activity and promote "special badges" on your social media - challenging customers to earn more badges (106 customers earned the "Tree Hugger" badge this week, click here to see how to earn yours).
POSSIBLE BANKING BADGES
Easy Rider: Motorcycle Loan
Car & Driver: Any auto loan
Gonna Need a Bigger Garage: 3rd active auto loan
Tree Hugger:eStatements
EZ Access:Checking
Charrrrge It!: Credit Card
Trifecta:Checking, Debit and Online Banking opened
Far Far Away:Vacation Savings
Tis The Season:Christmas Savings
Rockafeller:$150,000 in total deposits
It’s mine, all mine:Any paid off loan
Professor: Attend education seminar
Entrepreneur:Small Business Loan
This Could go Platinum: Any CD
Banking in Jammies:Online Banking
Mmm: Money Market
Writer’s Cramp: 30 signature-based debit card transactions in 1 month
Single-handed Stimulus:50 plus debit card transaction in 1 month
Loyalist: 4 or more total products
No More Rent:First time mortgage
Home Sweet Home:Any Mortgage
Nest Egg: IRA
Pass It On:Referrals
The challenge, of course, is measurement and tracking of the badges. But, realistically, most of the above criteria are built on simple triggers or reports from your core, MCIF or CRM system. The more immediate the reward notification, the better - so monthly updated files aren't ideal. But don't let the tech-geek in you kill a potentially good idea. If you think it will work with your base, make it happen.
We bring these marketing philosophies to credit unions and community banks nationwide, and would love to bring them to your institution too. Contact us to see how.
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