INNOVATION

The Fun Is Spreading! How Gamification Is Changing Industries

When asked the ques­tion What in­dus­tries do you think gam­i­fi­ca­tion would be most im­pact­ful?” Many peo­ple would not an­swer the bank­ing in­dus­try first. Instead, re­spond­ing with the hu­man re­sources de­part­ment of an or­gan­i­sa­tion or per­haps a mar­ket­ing firm hop­ing to en­gage cus­tomers in a unique way.

The bank­ing in­dus­try is con­stantly look­ing at busi­ness in­no­va­tion and in par­tic­u­lar, one bank is chang­ing the way peo­ple view in­vest­ing. The Commonwealth Bank of Australia has been proac­tive with the ap­pli­ca­tion of the con­cept gam­i­fi­ca­tion. In 2011 Commonwealth Bank re­leased ***Investorville***which was a vir­tual world that gam­i­fied a prop­erty in­vest­ment sim­u­la­tion; all based on ac­tual prop­erty data. Investment can be daunt­ing, but by gam­i­fy­ing the process the play­ers could ex­pe­ri­ence in­vest­ing in rental prop­er­ties with none of the risks as­so­ci­ated with us­ing per­sonal fi­nances to buy prop­erty. The suc­cess of this gam­i­fied process was in the way The Commonwealth Bank of Australia was able to break down mis­con­cep­tions and demon­strate how prac­ti­cal prop­erty in­vest­ment can be not just for those from a fi­nan­cial back­ground.

Looking at the re­sults it is clear to see this was a suc­cess­ful ex­per­i­ment with 613 ac­tual loans tracked di­rectly as a re­sult of hav­ing played Investorville. That fig­ure trans­lates to ap­prox­i­mately 413% ROI (a con­ser­v­a­tive fig­ure). While the on­line sim­u­la­tion is no longer avail­able the ev­i­dence of the sim­u­la­tion’s suc­cess is ev­i­dence that the processes ap­plied can still be very much valid.

Gamification, when ex­e­cuted cor­rectly, does more than just change the per­cep­tion of a task or process. It has the po­ten­tial to in­crease em­ployee en­gage­ment and re­duce turnover. There is the op­por­tu­nity to build a pow­er­ful busi­ness tool. One that not just mo­ti­vates on­go­ing en­gage­ment but pro­vide busi­ness in­sights, re­turn on in­vest­ment and scal­a­bil­ity for a firm. A sur­vey con­ducted by TalentLMS, in­di­cated that 62% of the par­tic­i­pants would be mo­ti­vated to learn if leader­boards were in­volved and they had the op­por­tu­nity to com­pete with other co-work­ers. 89% of those sur­veyed stated that a point sys­tem would boost their en­gage­ment. Working Mouse un­der­stands both why gam­i­fi­ca­tion is im­por­tant and how to im­ple­ment it into busi­ness ac­tiv­i­ties. In terms of look­ing to the fu­ture, gam­i­fi­ca­tion will play an in­te­gral part in in­creas­ing en­gage­ment not just in con­sumers but em­ploy­ees as well.

ABOUT THE AUTHOR

David Burkett

Growth en­thu­si­ast and res­i­dent pom

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