There are other options available besides loyalty programmes when it comes to rewards and gamification. The gaming business, in fact, is a much bigger vertical that frequently employs similar engagement strategies. Looking at how gaming rewards are used to generate long-term engagement, encourage purchases, and foster like-minded communities — and exploring how each of these aspects can be transferred into loyalty programmes — is worthwhile given that the market in question is anticipated to reach a value of $314.40 billion by 2026.

Using loyalty programmes to examine the video game industry

It may seem strange at first to compare loyalty programmes to the video game business. But let’s consider it from a different angle. The bulk of mobile games, massively multiplayer online games (MMOs), and other online games are all free to play with the opportunity to buy in-game items with real-world money.

These games alter player behaviour through the use of behavioural science and their gaming rewards system, luring them back day after day and encouraging them to spend their money within the game’s ecosystem as opposed to a rival’s. And if you replace “game” with “brand” and “player” with “customer,” it defines a loyalty programme in the way that you are probably already familiar with.

What are gaming rewards, and what are the advantages of using them?

It’s time to look at what gaming rewards are and why they are so coveted now that the gaming industry has such a significant presence. Gaming rewards, in essence, are a network of in-game incentives used by video games to cultivate player loyalty, maintain, and promote ongoing participation.

These prizes can be anything worth using or having, just like in a loyalty programme. Incentives in gaming typically fall into one of two categories:

Spendables: Regularly earned and used virtual money or transient services, such as progress boosters. These serve as a substitute for loyalty points.

Value-holders: The bulk of users lust after these high-value, challenging-to-obtain rewards, which range from new playable characters to graphic customising goods. Players are prepared to put in numerous hours of playtime or shell out a lot of cash to get them. These would be gold or diamond-tier awards in a loyalty programme, such as experience rewards or early access privileges.

Everything Has a Lesson to Teach Us

Loyalty programmes can go to a new stage and meet the expectations of many different client groups by drawing inspiration from other industries. Therefore, gaming prizes are only a piece of the puzzle. You must make sure that every component, from the programme structure to the communication channels you employ, works well together in order to establish a next-generation loyalty programme.

Are you prepared to explore what makes a loyalty programme genuinely exceptional? Do you know which features your core clientele prefers? We’d be pleased to demonstrate Antavo’s capabilities to you. Just schedule a demo or submit an RFP.

And be sure to download our in-depth report, the Global Customer Loyalty Report 2022, if you’d like to learn more about the market trends that are influencing the future of loyalty programmes. This report includes insight from more than 325 corporate respondents and more than 25 million member interactions tracked across Antavo’s Loyalty Management Platform.