UX is the the overall experience of a person using a product such as a website or mobile application, especially in terms of how easy or pleasing it is to use. Many businesses today still don’t realize the return on investment (ROI) of User Experience and its lucrative benefits. As technology continues to grow it’s important for a business to keep up to have a competitive advantage.
Disregarding the type of business or organization, speed is always important. User experience activities can reduce development inefficiencies. One, it can stop wasted development time because UX helps define usability requirements up front, avoiding re-work. Two, reduces development time because user involvement helps improve decision making and prioritize development tasks. Three, it helps focus on getting the user interface (UI) right.
Proven ROI gains
User acceptance and user adoption are critical because most projects fail without happy users. 70% of projects fail to due lack of user acceptance(1). In marketing organizations, customer loyalty, customer retention, engagement, satisfaction and intention to purchase are all critical, especially now on mobile. 67% of users are more likely to purchase from a mobile friendly site(2). 93% of executives thought that improving the user experience was a top strategic priority(3). Five proven return on investment (ROI) gains from user experience include a boost in overall revenue/conversion, reduce development waste, reduced the risk of building the wrong thing, lower support calls, and increase customer satisfaction (4).
Its crucial to understand the hidden return on investment (ROI) benefits of User Experience. Hidden return on investment (ROI) comes from the results of an overall effort, many benefits of a UX effort are often unnoticed. The following is what user experience gives you: lower costs for customer acquisition, lower support costs, increase retention, increase market share, all of which makes for a healthier bottom line(6).
Good user experience equals good for business (7)
Considering the return on investment, every dollar in UX brings $100 in return. This can be evident because spending 10% can gain a business 83%(8.). The stats prove that ROI is essential to justifying usability projects.