Gamification Startups Are Finding New Niches and Greater Profits

More Gamification Startups Pop Up Everyday

Gamification startups are still finding innovative methods to stake their places in new niches while producing large profits. Businesses are looking for new techniques and methods to establish their presence as the first authority to consumers. Many businesses are finding that new competition are ramping up the game which is leaving many to say: “If you can’t beat ’em, join ’em.” These new competitors are banking on the ideas and innovations coming from gamification methods and practices lending to impressive startups and profits.

Startups Utilizing Gamification

Many startups are utilizing the draw and push from gamification methods to help establish a credible and powerful foundation for success. These businesses have found different areas in which to focus, but their processes of attracting consumers, viewers, and partners with games, rewards, and distinction share the same mode of mechanism.

Topstep Trader is one startup that is finding games and simulations to be an incredibly powerful method of bringing in customers and traders. Their program is designed around gathering data and statistics from traders as they trade in a simulation or in an evaluated environment. Individuals can enter into a Practice Trading Subscription, where they can “play” in the markets with real-time data but without real money. The evaluation, known at TopstepTrader as the Trading Combine, has Rules in place that the trader must follow in order to try and earn a fully funded trading account. If the trader follows the parameters of the Trading Combine and reach a certain profit target, they will be financially backed by the firm’s equity partner.

Yappem is a new app based gamification company. This app encourages its users to discuss certain brands or other businesses within a social community. Depending on how often and what kinds of reviews and descriptions they write, people can earn virtual coins as rewards which can be collected and transferred into gift cards.

The Profit of Starting Gamification Businesses

Gamification businesses are it. They are expected to see record growth in the next five years. Some analysts point that this industry will move from $500 million to $5.5 billion in the next few years. This is an estimate produced by a Markets and Markets analysis reported by PRWeb.com.

The drive for this profit can be attributed to the usefulness of gamification ideas. According to Markets and Markets research:

“While consumer gamification drives consumer purchases and new referrals from the prospective customers; employee gamification can drive employee motivation to align their behavior with organizational strategies, tasks and disciplinary plans thereby resulting in better acceptance of management plans along with increased productivity and low attrition.”

One can see that businesses have a wide variety of tools available due to gamification methods, ideas, and implementations.

Gamification is proving itself to being one of the most important tools innovating businesses and startups today. Many are relying upon consultants and other firms to provide the information necessary to get a good method working. Gartner predicts that most gamification implementations in the future will fail due to bad design but these gamification startups are showing interesting tactics and strong design solutions when confronted by certain problems, and the profits that they are showing is expected to rise quickly.

Flickr CC Image by Brooklyn Museum