The Integration of Gamification in Digital Marketing Strategies at Bibit

Abstract

Purpose - This research aims to explore the integration of gamification into digital marketing strategies to enhance user engagement and increase the adoption of the Bibit investment application. By incorporating game mechanics into Bibit’s marketing strategy, the study seeks to design a gamification model that fosters long-term user interaction, encourages frequent investment, and promotes financial literacy. Research Methodology - The research employs a qualitative methodology, consisting of a multi-step process that includes business needs analysis, an extensive literature review, the design of a gamification strategy, and a simulation followed by Focus Group Discussions (FGD) with target users. The effectiveness of the gamification strategy was evaluated based on user feedback and engagement metrics collected during the simulation and FGDs. Findings - The findings indicate that gamification significantly increases user engagement and investment frequency on the Bibit platform. The integration of daily missions, rewards, and social sharing features not only motivates users to interact more frequently with the app but also enhances their understanding of financial concepts. The social sharing feature also amplifies Bibit's brand visibility, contributing to an increase in new user acquisition. Novelty - This study contributes to the existing body of literature by applying gamification in the financial sector, specifically within an investment platform, which remains an under-explored area. The research provides a novel perspective on how game mechanics, typically associated with entertainment and retail, can be effectively utilized to make financial activities more engaging and approachable for users, particularly millennials.Research Implications - The study's findings suggest that gamification can serve as an effective digital marketing strategy for investment platforms, promoting sustained user engagement and financial literacy. This research has practical implications for developers of financial applications and marketers in the fintech industry, offering insights into how game mechanics can be tailored to enhance user experiences and drive business growth. Future research should explore the scalability of gamification across other sectors and its long-term impact on user retention and financial behavior.