How much money can you make by investing in good user experience design?
In today’s always-connected society, it is essential for businesses to ensure their online reputation and customer loyalty is maintained, as one negative online review or remark posted on a social media site can have devastating effects. As such, having a great user experience (UX) design is paramount to the success of any given platform or website. Thanks to the steady flow of feedback they receive, businesses can gain valuable insight into what their customers truly want and need. Consequently, many companies have developed UX designs to ensure their customers’ digital interactions with them are as seamless as possible.
Despite the obvious value of User Experience (UX) design, many companies have failed to embrace it, due to the resource expenditure (time, money, and research) that it requires. Furthermore, the advantages of UX design may not be immediately apparent, leading to a lack of understanding of the return on investment it can bring.
As time progresses, the advantages of good UX design become increasingly visible. Recent research into the financial returns of UX design has revealed it can help companies boost conversion rates, reduce costs, increase profits and significantly enhance the consumer-brand relationship. It is estimated that up to 50% of a developer‘s income is spent rectifying problems that could have been avoided if the company had prioritised user experience design from the outset.
Research has shown that companies who fail to invest adequately in User Experience (UX) design are lagging behind their competitors in the marketplace. To provide further evidence as to why it is essential to invest in UX design for your organisation, let us review some figures that demonstrate the importance of this.
A Better User Experience Leads to More Purchases.
If you have launched an online store to offer your distinctive handmade wares, you may find that the payment page on your website is overly complicated and hard to navigate. This could be off-putting for potential customers and may even prevent them from completing a purchase.
Research conducted by Baymard revealed that a staggering 27% of online shoppers in the United States abandoned their carts in the last quarter of 2023 due to a lengthy and complicated checkout process. This equates to one quarter of all shoppers who visited the website having experienced frustration as they attempted to complete their purchase.
If you suffer losses like that over a long time, it may mount up. It’s vital that customers enjoy their experience because an optimized interface stands to gain a 35.26% increase in sales conversions.
❝A return of $2-$100 for dollar spent on user experience design is the norm. You might get a return on investment of up to 9,900%.❞, finds research by Forrester.
Better User Experience Leads to More Purchases.
The value of user experience (UX) can be measured in more ways than simply by its effect on sales. The quality of UX design can have a significant impact on a range of other conversion rates, such as the number of customers who do not need to contact customer service, or the number of people who sign up to company newsletters.
Investing in user experience (UX) can be hugely beneficial for any website. It is important that the design is done in a way that encourages users to follow the call to action (CTA). Basecamp conducted ‘A/B testing’, changing various elements of the user experience, such as including an image of a person next to the CTA. This resulted in an increase in conversions of 102.5%. UX is not only beneficial for increasing sales but also for improving brand recognition and providing more opportunities to promote the business.
UX Improves Communication Between Brands and Customers.
Having an easy-to-use user interface (UI) makes it far easier for new users to become accustomed to your platform quickly. This will reduce the cost of training users and make it simpler for them to adopt your services. It’s easy to imagine how difficult it would be for users to get to grips with a platform like Airbnb or Yelp if the user experience (UX) was poor. People would quickly become frustrated and seek out a rival platform with a more intuitive design.
Seventy percent of projects fail because of low user acceptability, therefore making sure the interface is easy to use and intuitive is crucial.
When it comes to user experience, it’s important to never lose sight of your clientele.
User experience design (UX) plays an integral role in shaping the identity of a brand and bringing its goals and objectives to the forefront. By focusing on the most important details, businesses can save time and resources that would otherwise be spent troubleshooting user experience issues. Moreover, a well-thought-out UX design can have a positive effect on the overall structure of a website, paving the way for further improvements in the user experience in the long-term.