Gamification for Community building

The traditional one-way approach of advertising to influence customers is not enough in today’s age of information dominated by social media. 

Games appeal naturally to humans as they provide competition and good times. Thus, gamification has a great impact on business outcomes.

1. Attention

In the crowded world of advertising, gamification provides a differentiator that grabs the attention of potential customers.

2. Engagement

Delighting customers is key to net promoter scores and an increase in sales by the greater adoption of products and services and realizing the lifetime value of customers.

3. Community

Turning customers into active members of business by moving away from a transactional approach to long-term relationships are rewarding for both.

As part of the International, consulting project had a great opportunity to travel to Lisbon and work with Letsrock a Ukrainian gamification company that shifted to Lisbon due to war.

Over a week, we had the opportunity to work with founder Eugene Yastrub who is a serial entrepreneur with a great vision for the company. Our assignment was to create a market entry strategy for UAE market for LetsRock.

Sharing a few lessons about Gamification as a new-age CRM add-on. In case your company is looking at this exciting space do connect with Eugene to learn more about how LetsRock can help. 

A great treat: you can try RockPaperScissors for free with your friends at the below link.https://letsrock.net/

#gamification #letsrock 

Corporate Stratergy for growth

^{To keep growing profitably, firms need to have a corporate strategy for expansion.}

 ^{Here are the three possible growth vectors.}

^{1.   Value chain}

^{Move across the product value chain by backward or forward integration to capture more value.}

^{2.   Geography}

^{Enter the new markets by expanding geographically starting with familiar markets.}

^{3.   Product/Customer}

^{Expand product portfolio to offer a range of product choices for different}

^{segments of customers.} 

It was such a great learning experience from the Global & Corporate strategy module, it summarized a lot of MBA lessons by concretizing key concepts. 

Cannot thank enough Patrick Gibbons for the fun and immersive sessions last week.

#globalstrategy #corporatestrategy #learning #mba

Win-Win Negotiation

              "There is value left on the table in most of the negotiations". 

^{Even though we may not realize it, negotiation is part of everyday life. We often think of it as bargaining, but it is a way of creating more value by the value exchange to create a win-win deal for both parties.} 

^{Here are three takeaways that will help negotiate better.}

1.      Self-awareness 

Soft negotiators overestimate their assertiveness while tough negotiators underestimate it. Be aware of your emotions it’s a game of mind and heart.

2.      Preparation 

Work out a strong best alternative option to fall back in case of a no-deal. Research the reservation point and best alternative of another party. Set the most ambitious target point which can be justified.

3.      Perspective-taking 

Expand the value pie by active listening to find out opportunities to create value for another party and think from their perspective. Build trust by staying positive about the possibility of a deal.

Thanks a ton to professor Stephen Boyle for delivering the most valuable module in a highly engaging manner. One of my core goals in pursuing an MBA was to improve my negotiation capabilities.

#management #negotiationskills #leadership #winwin
My MBA lessons: Ni3 - Three insights from Nitin