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Sharing Economy & Gamification (Assignment)
Sharing Economy & Gamification (Assignment)
Sharing Economy & Gamification (Assignment)
$15 billion and has the potential to grow to $335 billion by 2025. With the implementation
of an effective gamification system, combined with the rapid growth of this industry,
ShareAll may find itself in a favorable position to become a leading firm in the market.
Below is a detailed proposal for a gamified system intended for ShareAll:
1. Define business objectives
With a gamification system put in place, this will help to achieve below business
objectives:
Feel good factor Gamification will help providing feedback on how the
users contribute to a larger cause with every activity or transaction completed
in the platform, by connecting it with social impact. For example, by offering a
ride to three other people who are going to the same workplace area, the
system will be able to provide feedback on how much CO2 emission is reduced
and the positive impact it has on traffic for the day, compared to having four
vehicles on the road, based on this specific transaction taking place. This will
provide intrinsic motivation for asset owners to keep on sharing in order to
contribute to a larger cause
Tell others ShareAll needs to have a large customer base in order to intensify
the transactions and asset listing activities, which will make this platform
worthwhile for the users. By providing Shares points for every customer
referrals that sign up, this will provide extrinsic motivation for users to keep
recommending the service to their network. User can also be intrinsically
motivated by informing the user his indirect social impact resulting from each
successful transactions coming from his referrals
Buy more The sense of community will help user to have a micro perspective
on the transactions happening within the users community, with feedback such
as average number of assets being shared, the average social impact the
neighborhood has contributed versus the users individual performance, the
amount of dollar saved for the day by sharing assets versus buying, etc. This
will provide communal pressure as well as motivation for the user to get more
involved and do more frequent transactions in order to be more aligned with
social norm
With above target behaviours, suitable metrics that could be used are virality rate,
volume of transactions, DAU/MAU and customer lifetime value.
As for the psychographics, the younger generation which contributes largely to sharing
economy are tech savvy and have access to technological devices such as
smartphones and personal computers, allowing them to be constantly connected.
Do note also that this generation is very familiar with video gaming, so they will find
adapting to gamified system to be second nature and will appreciate fun factors and
social elements that can be derived from using this system. As the millennials are
largely well-educated, they should be able to appreciate the social causes built
around the gamification system and will be eager to contribute to a larger cause.
This is also proven from a survey done by Matofska (2015), whereby at least 51% of
the respondents involved in sharing economy prefer to try products that support good
causes.
Engagement loop User will receive Shares points for some actions that
they have taken (logging in, listing assets, communicate with other platform
members, invite friends to join, etc.). This Shares points can then be used for
purchasing assets in the system, which will motivate the user to keep using the
platform. Do note though the reward mechanism should not be put in a position
3
Progression loop Player journey will start from Beginner level up to Expert
level. To start the journey, users will be involved in onboarding and
scaffolding processes to get them familiar with the system as well as assisting
them if the system detects that they have not completed the onboarding stage
after registering an account. The pathway to mastery will be designed to be
psychologically and visually evident, whereby Expert users will be able to
access exclusive functions such as creating and coordinating a large scale
collaborative social impact project, as well as having an Expert / Influencer
badge attached to their profile in order to let others know of their influence to
the community
Social engagement Activities made can be more fun and meaningful if its
done together with friends, family and co-workers. Users will be able to see
their peers number of transactions made in a leaderboard (providing a sense
of competition) as well as the collective social impact they have contributed
together within the community as well as within the users network (providing a
sense of collaboration). Users can also create their own quests and
challenges together with rewards for completing them. This community-made
quests will then be verified by the platform provider. Once verified, it will be
made publicly available for others to take up the challenge. This will provide
users with an endless streams of challenges to complete, which will keep them
engaged with the platform
PBL The gamification system in this platform is built around points, badges
and leaderboard in order to implement the game elements discussed above
References
Bloomberg.
(2015,
June
15).
Bloomberg
Brief.
Retrieved
from
Bloomberg:
http://newsletters.briefs.bloomberg.com/document/4vz1acbgfrxz8uwan9/front
Matofska, B. (2015, March). What We Know about The Global Sharing Economy.
Retrieved from Compare and Share: http://www.compareandshare.com/blog/didyou-know-that-the-sharing-economy-is-growing-faster-than-facebook-googleand-yahoo-combined/
PricewaterhouseCoopers.
(2015).
The
Sharing
Economy.
Retrieved
from
https://www.pwc.com/us/en/technology/publications/assets/pwc-consumerintelligence-series-the-sharing-economy.pdf