How The Gaming CRM Space Will Change Customer Relationship Management: Social Identity
How The Gaming CRM Space Will Change Customer Relationship Management (Forever): Social Identity
As mentioned in the In the previous blog of this series, the paradigm for how we evaluate the performance of our team is changing. It will become less about sales numbers and more about the vast amount of ways we can quantify the person and their value.
With this information, we can build a foundation of things — from in-depth team inspection and coaching, to comparative analysis and sales projections. All items that can help the person and the company earn dollars more efficiently.
Moreover, there is a social dynamic that cannot be ignored. Gaming CRMs are platforms that allow sales people to personally brand themselves along with their professional value. As usage of these platforms continue, we expect Gaming CRMs to become more intelligent and accurate in their representations of their user base.
One of the most exciting aspects of the emerging Gaming CRM industry, especially if you’re a quant, is user comparison power. Having accurate and quantifiable knowledge of one’s ability relative to the entire population changes how sales people will be viewed and how they view themselves.
Lastly, we’ll explore a very popular component to many modern day games – virtual currency. What will virtual currency mean for the user? How will it be earned? What can they buy? Imagine the sales occupation evolving to include an added layer of digital compensation linked to the user profile, name, image and their likeness.
Let’s dive in.
Understanding More Than Just Sales Numbers
Historically, sales reps have predominantly been defined by the revenue that they bring in. This is inherently limiting, especially considering that companies overall are analyzed by more than revenue. When companies are evaluated, their financials are looked at closely. Financial analysts are trying to understand efficiency of operations (i.e. how much is one unit of input producing relative to its output). This leads to a deeper focus on specific metrics like gross margin percentage, marketing spend as a percent of revenue, certain overhead costs, inventory costs, and so on.
What if we were able to place this type of lens on the persons who are contributing to their company’s revenue performance and efficiency? CRM gamification is key to this evolution of measuring people. For example, here’s how Outfield accomplishes this through the “Player Card.”
Meet Jon, a real sales person at Outfield. His Player Card, which you can see above, is similar to the baseball cards that many of us used to collect as kids. Some people still collect them, but now digital NFT forms are becoming widely embraced (conversation for another day).
On one side of the card you’ll notice his name, profile image, and overall Performance Efficiency Rating. On the back, you’ll find his monthly attributes and stats. These metrics are intended to quantify the value of his daily contribution beyond simple revenue numbers. Jon’s work habits are being told in the form of algorithms made up of variables. Those variables are a reflection of how he interacts with his CRM.
As of this writing, the four attribute categories are: Hustle, Diligence, Preparation, and Leadership. These are the different ways to take a deeper evaluation of Jon as a sales person. We can expect player attributes to expand to include more categories that will help measure the value of sales people.
Digital Representation And How It Will Drive Decision Making
Imagine having a digital representation of your professional contribution online. Unlike Linkedin, where anyone can say anything to promote themselves, gaming CRMs produce information that is proven and trackable. This essentially means that each user will begin to produce a digital story about themselves and their work ethic that can be made available for public consumption.
The public consumption element to this equation will be a major game changer for how sales reps think, act, and perform. We’re seeing it first hand at Outfield. Our users are now reaching out to us in order to understand how to better improve their scores and what goes into the attribute categories. They’re also looking for ways to optimize their goal setting criteria. At the center of all these inquiries is their desire for the best possible representation of themselves.
Reps are aware that this data can be used as a mechanism to promote themselves and achievements. This ultimately positions them to have a better understanding of their value. What do we know about human nature as it relates to individuals having a prominent reputation on social media? We’ve learned that they don’t sit back and avoid marketing or branding themselves — they do the opposite. In fact, many use social media platforms to sell products, services, and information all the while chasing their career goals. Why should we not expect the same behavior among sales people given that they have a similar platform to do these things?
Comparative Analysis – Understanding How Someone Measures Up
As we think about comparison data, we’re actually touching on one of the more interesting capabilities that Gaming CRMs have to offer. While it's extremely valuable to have an accurate and holistic representation of a user, the ability to compare users will offer a much more complete picture of a sales rep’s value. For example, where does Jon fall on a normal distribution curve of the entire user population? How does he compare to the mean? Or what about the upper twenty percentile? I think you get the idea.
Gamified CRMs offer a powerful potential for sales reps as it relates to slicing, dicing, and analyzing one rep versus another in various statistical categories. This functions very similarly to today’s sports. You can compare Steph Curry’s 3 point percentage to that of Ja Morant, or Shaq’s rebounding stats against Anthony Davis’. Consider how this information will influence sales reps’ behavior patterns. This data will influence stakeholders like sales directors, recruiters, and the various media outlets. Further, these platforms will generate profiles who will serve as the faces of sales across the globe. Who is on the Mount Rushmore of sales? We will soon find out...
Virtual Currency And It’s Infusion Into Gamified CRMs
Video gaming is expected to reach 270b in annual revenue by 2025. Moreover, consumer spending on in-game purchases has reached 65b in annual revenue In fact, SEE, a VR company, purchased a virtual planet by the name Planet Calypso for 6 million dollars. Google it.
According to Statistica, consumer spending on gaming loot and currency packs is expected to reach 20b by 2025. Although it’s clear that the video games industry has exploded into a multi-billion dollar space, it’s not so clear how those same gaming mechanics, when applied, will drive the market growth of the CRM space.
A fascinating thought no doubt. The reality of it all is that it’s coming. We already have plans to roll this out for Outfield users. When that day arrives, you can expect the CRM space to be changed forever. Over time, CRM users will grow accustomed to this. Virtual currency as an incentive will no longer be a luxury — but an expectation. We’ve already witnessed it with X-BOX and PlayStation. This type of incentive program being included in CRM platforms indicates to customers that their CRM partner is also investing in their success. This is an example of how Gaming CRMs are actively participating in win-win partnerships.
Now, let’s get to the fun stuff. Will the infusion of virtual currency influence Gaming CRMs or vice versa? My guess is that it’s both. But the true manifestation of virtual currency will be built on how that currency is valued by the user. Ultimately, we should expect that it will function as any currency and would depend on what users are able to purchase. Really, the skies are the limit. The CRM company could offer anything it wanted. It’s really just about knowing what matters to its core user base.
Popular in the video game space is player identity and profile representation features. History shows that consumers will spend hundreds of dollars a year on outfits for their in-game character or avatar. This speaks to how much some people care about how they’re viewed online.
The above outfit sold for $500. Mind you, it can’t be worn in the real world. It can only be worn for the in-game experience. We know people will purchase expensive clothes for their pets, but this is taking our wardrobes to a whole new level. Imagine what Louis Vutton could charge for a virtual purse to match a character’s outfit. Then imagine what it would cost them to design said purse.
Bringing it back to sales, we don’t have to reinvent the wheel. A Gaming CRM store can begin with offering the basics (e.g. swag, gift cards, electronics, special access to events, trips, etc.). These items are common place rewards for sales people already. The only difference is that Gaming CRMs will offer these items in a digital store for purchase by a virtual currency native to the platform. The store could then extend itself into offering features traditional to the video gaming space. For example, Jon could have the ability to purchase a new hologram skin for his player card. These are all things we intend to offer on the Outfield platform moving into the future.
It's definitely an exciting time for all the social possibilities that Gaming CRMs will introduce to Customer Relationship Management. This is no longer just about salespeople making sales and closing deals. This is about tying the entire sales universe together in a way that is transparent, engaging, and rewarding for all stakeholders.
This is part-2 of a 3-part series where I discuss the emergence of the Gaming CRM and how it will influence the nature, social identity and behavioral habits of sales professionals. The next topic will be centered around how and why this trend is occurring. Also, be sure to check out the intro to this series where I discuss who benefits from a Gaming CRM system.
Outfield is a performance based CRM company that specializes in leveraging game theory and behavioral psychology to drive CRM adoption, motivation, and overall productivity among sales organizations. With customers in over 50 countries, Outfield’s gaming CRM helps teams work simpler, smarter, and more effectively. Becoming the world’s most highly adopted CRM is their mission, and their vision is to accomplish this by creating a platform that is aligned with the values of the up and coming generation of sales people.
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