GameIQ®: Building Interactive Experiences for Customers

Balazs Wellisch, CEO
According to neuroscience, a person’s anticipation of rewards triggers the release of dopamine, a neurotransmitter that reinforces behaviors leading to visible benefits. The more unpredictable the rewards are, the more dopamine gets released. Balazs Wellisch, CEO of GameIQ®, puts the concept into perspective: "The concept of variable rewards is what keeps people sitting in front slot machines in Las Vegas casinos; the randomness of the outcome heightens the fun and excitement we all seem to crave so much." The sales gamification experts at Carlsbad, CA-based GameIQ® employ the engaging psychology of variable rewards to attract new customers and drive sales for their clientele. Specifically, the firm offers a robust “rewards and loyalty platform” that features a combination of real-time cash rewards and gamification technology. The platform allows retailers to gamify rewards, deepen customer engagement and drive their business forward.

In a retail space saturated with antiquated coupons, groupons, discounts and electronic punch cards, the GameIQ® platform is a refreshing alternative for both merchants and their customers. It takes only a few minutes for merchants offering apparel and accessories, general merchandise, food, and drinks, or services, to sign up and get listed in the SaaS-based GameIQ® system. Their listings appear on GameIQ’s customer-facing cash back rewards app —spindy®—that allows users to browse through a list of participating merchants in their own neighborhood.

Following a purchase at a listed store, customers can then log onto the spindy® app and upload a snapshot of their receipt as a "proof of purchase." Equipped with Optical Character Reader (OCR) technology, Spindy extracts information from each receipt and creates a digital signature to validate it and approve or decline the payment of rewards. Next, customers can spin a wheel to determine the amount of their reward.


When people get rewards through us, they are celebrating and high-fiving each other. You don't create that experience with coupons or punch cards


With cash back rewards ranging from 1 to 100 percent of the amount spent, the customer experiences the instant gratification of playing a game and winning cash that gets transferred straight to their bank account.

“All rewards are equally important. Bigger rewards obviously create a greater buzz because people are intrinsically moved to want to share that experience on social media,” quips Wellisch. "Spindy acts like a powerful promotional tool, helping merchants to reach a wider audience.” Meanwhile, smaller rewards keep people coming back for more purchases because they crave spinning the wheel again to see if they can win a bigger reward. “When people win rewards through GameIQ®, they celebrate and congratulate each other with virtual high-fives. You don't create that kind of experience with coupons or punch cards.” Furthermore, GameIQ’s pay-per-performance model helps businesses reduce their customer cost of acquisition. It’s not until an actual sale is made that a small transaction fee applies, instead of a monthly fee or a term commitment.

GameIQ® has planned geographical expansion nationwide and is currently engaged in the process of creating structured relationships with large product chains in the restaurant and retail space. GameIQ® also anticipates online expansion, integration with POS applications, and collaboration with large retailers who want to boost sales, leveraging the power of variable rewards from any source, anytime and anyplace.

Company
GameIQ

Headquarters
Carlsbad, CA

Management
Balazs Wellisch, CEO

Description
Delivers a powerful marketing platform to help enterprises drive sales and deepen customer engagement

GameIQ