How Fintech, Fantasy Sports, E-commerce and Hyperlocal Apps Can Use Badges
We learned in our last blog post that top apps use badges to foster users’ engagement. In the following installment we will drill down by industry exploring the use of badges within Fintech, Gaming, E-commerce, and Hyperlocals. Knowing these specific applications in this industry will be helpful during your app development process.
Badges, like all the other in-app nudges, are industry-agnostic engagement hooks. They can be used by any app of any industry to level up their app engagement game, increase brand loyalty, and improve retention and conversion rates.
The power of badges lies in their ability to be super non-intrusive at the same time extremely effective in making the users understand the value of the feature with which they are attached to.
Added to this, badges are those in-app nudges that can be used in many designs on a single UI screen.
In this single screen of the Zepto app, you can find multiple badges of various styles.
Uses of Badges in Fintech Apps
Fintech apps are some of the busiest apps in the world, both in terms of their usage and their UI. With several features demanding attention on a single screen, it becomes hard for the users to focus on a single aspect of the app.
Badges come as a very handy tool for fintech apps. Here is a list of use cases that Badges can help fintech apps with.
New Feature Launches
Badges can be used by the fintech apps in order to attract user’s interest towards the new and untried features/services.
Whenever the app launches a new feature, the app owners can add a ‘New’ badge to the feature to attract user attention and improve feature usage and adoption quickly.
Fintech apps are full of useful features which are often under-discovered. By introducing a badge to an under-utilized feature Fintech apps can increase the usage of the feature instantly.
As product and development teams spend a lot of time and effort building features, leaving the discoverability of features to users is criminal.
Employing the usage of badges to let users discover such features effortlessly brings a roundedness to the efforts of building the features.
Completion of KYC is one of the most important activities to consider a user activated for most of the Fintech apps.
Adding a relevant badge on the KYC feature, based on the status of the completion of the KYC the text/label of the badge can change contextually.
Turtlemint app added a badge to their KYC Verification. Turtlemint offers 100 points to the users who complete the KYC. This offer is clearly stated in the badge in an extremely non-intrusive fashion so that users can utilize the offer by completing the KYC.
Users who create and maintain alerts on different financial transactions and market conditions are provided with a badge. As one example, users that set up alerts for stock movement or bills can receive an “Alert Pro” badge which testifies to their skill in personal finance.
Offers and discounts
Fintech apps offer their consumers special promos and deals for financial services. It becomes extremely important for the apps to keep the users updated about these promotions. Badges play an important role here. By using Badges, Fintech apps can quickly alert users about the offers and discounts while they are browsing the app.
Optimize funnel conversions
Badges may inspire users to conduct certain operations that would be beneficial for both them and the app, For instance, such as finishing the profile, linking UPI payments, enabling auto-transfers for savings, or integrating various accounts for a better overview of personal finances.
How Fantasy sports apps can use badges
Gamification is the key factor behind fantasy sports apps’ success. Gamifying the app experience using badges, helps fantasy sports apps level up their user experience and engagement. Check how Dream11 uses badges like ‘4 player transfers’ and displays win amounts using badges. This allows its users to immediately understand the game and participate in it.
Fantasy sports apps may also leverage badges as tools to make users for referring their friends to be part of such platforms as a means of encouraging user recommendations. Dream11 uses in-app badges to make users aware of the referral program. People interacting with this feature tend to refer more friends and also earn more rewards.
How E-commerce and Hyperlocal apps can increase conversions
Badges can be used in e-commerce apps to reward users for performing some actions directly linked to sales. For instance, the user can get a “sophisticated shopper” badge once she reaches an eligible milestone in terms of the number of purchases made.
Discovery of Discounts
E-commerce and Hyperlocal apps offer several discounts on their various products. Each product could have a different discount or offer. Using Badges, product and marketing teams are enabled to showcase these different discounts/offers on a single screen.
By looking at the multifarious uses of badges for instance in fintech, gaming, e-commerce and hyperlocal apps you would have a general view of their diversity. However, how do you make the badges work? For the final blog in this series, we will show you how to make different types of badges for your app with Apxor.