DBS Bank Asia utilized a mobile gamification platform to enhance their engagement with the credit card customer community in Singapore. This creative approach deepened customer connections and set them apart in the competitive financial sector.
Overview
In a bid to secure its top position, DBS Asian Bank has embarked on a mobile-driven strategy. This strategy is manifested through a lifestyle app that ingeniously incorporates gamification elements into customers’ daily routines.
Notably, their “Spin and Win” promotion not only entices customers to visit physical retail stores but also encourages them to spend more, strengthening the brand’s competitive edge.
The Challenge
As the largest bank in Southeast Asia, DBS recognized the need to adapt to an increasingly digital-savvy audience to maintain its leading position. Introducing the DBS ‘Lifestyle’ app, the bank aimed to:
– Increase App-Open Rates: Encourage customers to use the app more frequently.
– Drive Overall Consumer Engagement: Deepen connections with users and keep them actively involved.
– Improve Offer Redemption Rates: Optimize the utilization of app-offered promotions.
DBS sought to enhance customer engagement and ensure the ‘Lifestyle’ app remained a valuable and relevant part of their digital banking experience.
The Solution
To enhance the DBS ‘Lifestyle’ App’s appeal and customer engagement, DBS joined forces with 3radical to integrate gamification elements. This app offers a loyalty program that entices cardholders with exclusive offers from a wide array of Singaporean merchants.
DBS also tailors and refines the challenges and rewards embedded in the “Spin and Win” promotion. Moreover, they manage the roster of featured merchants within the app. This one ensures a dynamic and responsive user experience. This collaborative approach aimed to keep the app fresh and captivating for its users.
The results
One month after introducing the gamified version of the DBS – Lifestyle app
🔹 Open rates have increased by an astounding 31%.
🔹 Typically, push notifications see a 4-10% engagement rate, occasionally spiking to 40%.
🔹 “Spin and Win” push notifications yield outstanding 70-84% open rates.
🔹 Redemption rates of 10-15% for prizes and offers.
Gamification is not just about entertainment. It has the potential to lure consumers into physical retail and incentivize consumer outlays.
Should you require further details regarding gamification and how it can be leveraged to bolster your business? Don’t hesitate to get in touch with Elofun. We’re here to help you maximize its potential.
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