Why does UX design matter?
User experience in the digital product impacts customer retention and satisfaction. Simply, a great user experience means it is easy to use or navigate and feels better when using the product. Providing a great user experience needs a deep understanding of the problems that users face and how to provide the best solution with a better experience.
When it comes to the business, UX design can significantly impact business value. Bad UX design can make users never return to your website or product because they had a negative experience. On the other hand, customers would like to return when they have a memorable user experience, and they quickly turn into loyal customers, which brings more profits.
The business value of UX design
Impacts of UX design on Business
Studies show that companies that provide a great user experience have better revenue growth than companies that don’t pay attention to UX design.
- User Experience design has a high correlation with company revenue growth.
- Research shows that every $1 invested in UX brings $100 in return, 9,900% of ROI.
- Well-designed UI could increase website conversion rate by 200%, and user-friendly UX design can bring conversion rate up to 400%.
These studies prove how UX design can bring so much value to the business and is the most crucial factor for successful digital product design. Bank of America, for example, increased the registration rate by up to 24% after redesigning the UX for registration. The results show that understanding usability and user experience significantly impact customer acquisition and satisfaction.
UX design in enterprise products also has business value. A great user experience in enterprise products can increase productivity if the end users are employees. Also, user-friendly products can decrease employee training efforts and costs.
Pay attention to UX design in the early stage of product development.
When it comes to the product development process, user research and investing time in UX design seems like a time-consuming process. However, understanding users and fixing UX design in the early stage of product development costs less than changing UX design after product development.
For example, American Airlines can save fixing costs for updating UX design by 60 to 90% when they conduct usability testing during website development.
Understanding the value of UX design in business can help to lower the entire business cost and generate more revenue.
Conclusion
A digital product’s success can depend on user experience, and UX design is correlated with business revenue. Understanding users’ pain points and researching users can take time during product development. However, if organizations invest more time in UX design, it will result positively, making it easy to avoid fixing the product at a higher cost.
UX design is not just the aesthetic side; it is a strategic way to make your digital product memorable and thrive in the competitive market.
Tacpoint, a digital product agency with 20+ years of experience, will help you build and design B2B enterprise digital products.
