How Gamification Transformed User Engagement — Jupiter

We delve into an exciting gamification project that revitalized Jupiter's user engagement and transactional activities. By implementing game mechanics and enticing rewards, we successfully motivated users to actively participate, perform desired actions, and contribute to the platform’s overall growth.

With revenue becoming our key focus, increasing retention on the platform is paramount. This is because of the number of retained users.

More repeat actions (current) drive revenue and increase base exposure to monetizable products in the future.
Higher transactions and balances are strongly correlated to higher retention. Among all types of transactions, debit card transactions have been identified as a key action to optimise due to their direct impact on revenue.

Problem Statement

Build a rewards-based game to drive transaction engagement and balances for activated users cost-effectively.

We clearly needed an innovative solution to ignite users’ motivation, encourage their active participation, and ultimately rejuvenate engagement and transactional activities.

Objectives

1. Increase User Engagement: Craft an irresistibly gamified experience with users high-fiving their screens.
2. Drive Transactions: Make transactions cooler than a cat wearing sunglasses — smooth, stylish, and frequent.
3. Enhance User Retention: Create an experience so comfy, users won’t want to leave; loyalty without the chains.
4. Improve Platform Performance: Skyrocket performance like a rocket-powered unicorn on a sugar rush.

Why Gamification?

Gamification is the use of game like elements in a non game environment. When it comes to Fintech, most of the tasks can be fairly routine and boring. Gamification can serve to liven up boring actions boosting engagement (Reference link — A Comprehensive List of 90+ Gamification Cases with ROI stats ).
The challenge here is to not overdo it, a lot of game like elements in a financial app can make it look unstable and unreliable

Target Audience

This gamification project was meticulously designed to captivate existing users of our platform. We tailored our strategies to resonate with users actively engaged for a substantial period, forging a strong connection and understanding their preferences.

The target user segment for this gamification construct includes users who meet the following criteria:
1. Have been active for at least 30 days since the account funding.
2. Have activated UPI, Debit Card (DC), or both.
3. Have made at least one transaction in the last 30 days.

Goals

1. Inspire Active Participation: Turn financial actions into a thrilling adventure with rewards at every turn.
2. Foster Habitual Transactions: Make users swipe cards and tap UPI like they’re on a transactional winning streak.
3. Cultivate a Sense of Achievement: Shower users with badges and virtual trophies for conquering challenges.
4. Instill a Competitive Spirit: Turn transactions into a friendly battle, where users outshine their buddies for bragging rights.

Design Solution

• Blended game elements and tangible rewards to create an engaging gamification construct.
• Users performed actions like debit card transactions, UPI transactions, and bank transfers represented by coloured moons.
• Unlocked the prestigious Golden Moon through cumulative debit card spending.
• Users were captivated by discovering the pattern of unlocking moons and visually tracking their progress.
• Introduced a quest to collect all five moons, rewarding successful completion with exclusive prizes.

Impact

• Remarkable impact on user engagement and participation in the gamified experience.
• Substantial increase in transactional activities.
• Users exceeded previous transactional levels, revitalizing platform performance.
• Significant improvement in user retention and long-term loyalty.
• Impressive revenue growth and enhanced vital performance metrics.
• Demonstrated the effectiveness of gamification in driving user engagement and transactional success.

Outcomes

Engagement Metrics

- Monitored engagement metrics, including debit card spends, other transactional activities, average balance, and app retention.

- Observed a 5% increase in debit card spends per user participating in the game, indicating the effectiveness of the gamification strategy.

Game Metrics

- Analyzed metrics related to moon collection, golden moons unlocked, rewards unlocked and claimed, and rewards distribution.

- Noted an increase in the number of moons collected, indicating higher engagement and participation in the game.

- Observed successful unlocking and claiming of rewards, showcasing user motivation and satisfaction.

Conclusion

The gamification project amplified user engagement, retention, and revenue within the fintech realm. Users eagerly embraced desired actions like debit card transactions by blending game principles, well-defined goals, and incentives. Our UX design flawlessly conveyed objectives, milestones, and insights, enhancing the user experience. Positive outcomes solidified gamification’s prowess in fintech and its promising horizons.

Join us as we celebrate this incredible journey where gamification transformed our fintech platform, inspiring users, driving transactions, and ultimately reshaping our ecosystem into a thriving community of enthusiastic participants.