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October 5, 2022

Why is every business doing UX investment right now?

UX has now become one of the most popular fields in the technology and design industries today. From startups to Fortune 100 companies, more stakeholders are discovering the benefits of good design: When looking at the future of digital transformation - a future where the technology competition has gone meaningless since all the underlying technology has become nearly the same, it is clear that what makes a brand different from others is its outstanding user experience.

In this article we would focus on the 3 main reasons why investment in UX is not only important to every modern-day business but also actually vital to their long-term success.

UX design increases sale

According to a study by Forrester in 2017, a well-designed user interface could raise your website’s conversion rate by up to 200%, and a better UX design could yield conversion rates up to 400%. Investing in the user experience helps eliminate any possible confusion or inconvenience in the browsing process that would prevent customers from completing a transaction or a purchase. Bad UX is the reason that ecommerce businesses lose 35% of sales, which translates to about $1.4 trillion .

A great UX design provides your customers with engaging content and easy navigation. It makes the customer satisfied, which leads to increased return in investment (ROI) for your business. And the ROI of UX design is huge. Research from Forrester shows that, on average, every dollar invested in UX brings 100 dollars in return. That’s an ROI of an impressive 9,900%.

The customer satisfaction achieved by great UX does not only result in higher engagement but also creates a credible bond between customers and your brand, resulting in customer loyalty. Satisfied customers not only spend money and return, they are more likely to recommend the product to their friends via word of mouths . On the other hand, about 88% of consumers are less likely to return to a site with bad UX and they also often share their negative UX experience with others, in-person or online.

UX design drives brand’s digital reputation

Your website or mobile application is a clear indication of your brand’s online presence. When a customer visits a website or a mobile app, they are interacting with the brand and their experience with those products will affect their brand perceptions. Recent studies have shown that not only first impressions are 94% design-related but also the credibility of a website is also 75% judged based on its overall aesthetics. While the user interface (UI) establishes the first impressions, it is the user experience (UX) design that determines whether you can sustain those.

Besides building trust, it is important the customer’s experience with the brand’s products aligns with the brand’s personality and tone of voice. This is to ensure that the brand image is crafted correctly in the hearts and minds of customers. In this way, UX is a brand differentiator - a part of or all of the reason customers choose to engage with a company or its products. By focusing on UX to deliver consistently great and unique experiences through all points of interactions, companies like AirBnB or Netflix were able to find their success in oversaturated markets.

Netflix is a prime example of user interface and user experience design done well. From clean visual hierarchy, carefully-designed mobile experience, seamless onboarding process to incredible personalisation, Netflix has managed to create a truly immersive User Experience that forbids the platform to be dethroned by its sea of competition.

UX design saves time and money on product development

The first way that UX design can help save resources on product development is by the user research conducted on the early stage of any projects. This type of research aims to establish an assessment of the initial problem and the users’ pain points. The common outcome of projects without user research is complete failure as there is no customer for the developed product after market entry. According to a study by Forrester Research, 70% of projects fail due to the inability of a company to either attract or retain users.

Another way UX design would help reduce time and cost for your business is by implementing a user-centered approach throughout design and development. This approach allows UX designers to make necessary changes and fix possible issues early in the process before the design was handed off to developers. It was stated by Dr. Susan Weinschenk that at least 50% of a programmers’ time during a project is spent doing rework that is avoidable. Moreover, it’s so much cheaper to make changes at earlier stages of development. In fact, a study has found that fixing a problem of an already launched product can cost about 100 times more than fixing one beforehand. That’s a lot of wasted time and money that could be saved simply by choosing to invest in UX design.

Conclusion

Gone are the days when winning the digital transformation race only means securing the latest and most advanced technology. What we are experiencing right now is a saturated marketplace, where the race for digital transformation requires businesses to make unprecedented attempts to understand their users and deliver outstanding user experience.

We started off with the question why and ended with three compelling reasons that businesses should invest in UX design. And now, the only question left is for you to answer: Are you ready to use the power of UX design to transform your business?

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