Are you certain that your organization isn't overlooking the financial benefits of UX design?
A well-designed user experience and user-friendly interface improve the engagement, trustworthiness, and accessibility of a website or app.
48% of customers agree that a business design is the critical factor when judging a company's legitimacy — and this extends beyond surface detail.
As a result, a rising number of businesses are searching for UI/UX designers that can enhance their company's digital appearance through streamlined interfaces and increased usability.
So, let's go deep into the commercial value of UX design that you should know in order to help your company flourish.
UX CONCEPT IN A NUTSHELL
User Experience (UX) Design refers to the part of the navigation that focuses on the experience that the consumer will have. The UX must be useful, adaptable, comprehensible, and well-designed.
User Experience is also about resolving difficulties in people's lives and assisting them in achieving their goals.
UX specialists hence work with people to identify their pain points, study ways to eradicate them, and build solutions for them.
WHY MUST BUSINESS INVEST IN GREAT UX
Businesses can create a smooth digital experience that matches their consumers' wants and expectations thanks to UI/UX design. When a product has a well-designed user interface, users will feel more at ease and have a more favorable experience.
As a result, the significance of UI/UX design in the commercial sector is expanding.
The effect of poor UX design
Poor customer service costs businesses $62 billion every year.
Customers abandon purchases in 70% of cases due to poor user experience.
91% of non-complainers just go, while 13% of them tell around 15 more people about their poor experience.
The effect of effective UX design
According to research, every dollar invested on user experience yields a $100 return. That's a 9,900% return on investment.
A well-designed user interface may increase your website's conversion rate by up to 200%, while a superior UX design can increase conversion rates by up to 400%.
8 out of 10 customers are prepared to spend more for a superior user experience.
McKinsey & Company, an international consulting organization, undertook one of the largest global studies ever done to assess revenues and shareholder returns associated with effective design culture in businesses.
They discovered that the greatest design performers grow their sales and shareholder returns at approximately double the pace of their peers in the sector.
If it is still not convincing enough, here are some other greatest business values that good UX can bring to you.
1. Sales growth
When people are satisfied with a product or service, revenues improve. If a corporation artificially boosts product sales by advertising, the gain will be short-lived.
Read more: A good website design can significantly increase sales. See how!
Increasing organic interaction rather than depending too much on advertising, on the other hand, is always a more promising approach.
According to a 2016 design survey of 408 organizations, companies who invested more in User Experience Design had considerably increased revenue.
The firms who invested the most in User Experience had their sales improve by 75%, while those that did not invest as much but were still design-centric saw their sales increase by 60%.
2. Lower development cost
According to IBM's The Systems Sciences Institute, the cost of rectifying a mistake detected after a product has entered the market is four to five times more expensive than that of correcting one discovered during the design process.
In addition, according to an article released by IEEE24, the world's biggest technical professional association, it is estimated that up to 50% of development time is spent redoing a project with preventable flaws.
Furthermore, they predict that the cost of rectifying a User Experience issue after development is 100 times that of addressing it before development.
However, the value of UX is not wasting time, money and effort developing wrong solutions.
Make UX design a vital component of the idea and development processes from the outset. Assign or recruit UX designers to focus on the way people interact with the product in minute detail.
Using the right tools and technology, guaranteeing proper communication between the creative and business groups, and providing the best means to satisfy client requirements is the greatest method to strike a balance between cost and work put into obtaining outcomes.
3. Increased brand perception and loyalty
To many industry experts, branding and user experience are two sides of the same coin.
According to Harvard Business Review research, pleased consumers are far more likely to promote a product to their friends through word of mouth. In fact, 23% of consumers who had a favorable experience informed at least 10 other people about it.
Read more: Discover 5 best tips to quickly improve your UI design
When consumers are pleased with a company's products or services, they become advocates for the company's products or services, since referrals and personal recommendations carry more weight than any other type of marketing.
When creating the user experience for your app or user website, you should determine which components your consumers enjoy and detest, and then design the user experience appropriately.
This can help you avoid costly UI/UX mistakes while also establishing your brand.
4. Turn your visitors into paid customers
Customers find it appealing to stick to the same product line/service area since design improves the business operations that they interact with.
A successful business relies on a variety of design components such as engineering design, retail design, product design, website design, graphic design, and so on.
These design elements alter your business's perspective and contribute to a more successful outcome.
Read more: 5 easy tips to convert website traffic into qualified leads
You may improve your user experience by replacing all of that text with a video. By adding a video to a landing page, one business, EyeView, was able to assist one of its clients increase conversion rates by more than 30% .
According to another data, more than 70% of marketers believe that video leads to more conversions than any other sort of content. It is more engaging and instantaneous than text, and it is far less passive than static visuals.
A solid UX design must include videos in the proper manner. Check that they load quickly, play smoothly, and do not interfere with the overall functionality of the product.
CONCLUSION
The importance of user experience design in the commercial sector is growing day by day. Regardless of the size or scope of a company, it is necessary to pay attention to the field of design.
Successful startups and established firms all around the world use top design techniques and place a high value on their UI/UX expertise. It is one of the most crucial variables in a company's success or failure.
We are not here to discuss failure, we are here to help you succeed. Let our team of UX design experts help you out! Contact us now!
