Present Competency of UX as a Predictor for company Performance

UX Stands for User Experience Most of the businesses are on digital wheels like mobile apps and websites with the common challenge to secure customer attention like never before

The strategy and design solutions should always be aligned with business goals of the company. When you have a digital product, you should ask yourself a fundamental question: “What do I want to achieve with this site or mobile app?”

UX talks a lot about being user-centric and focusing on user needs. After all, the goal of UX is to give users solutions that they will love. But let’s be honest – most businesses don’t want to deliver great user experience for purely altruistic reasons. They do it because they want to run an efficient and profitable company. When they invest in user experience, they want business results. At the end of the day, it all comes down to what is good for the organization.

Need for UX:

The users’ overall satisfaction with the product, their increased loyalty and advocacy should be reflected in the revenue (or other business success criteria). There is no place for solutions that don’t provide business value. A great UX designer will manage to link user goals with business goals so that both users and the company reap benefits.

User Experience surrounds all the aspects of the end-user interaction with the company, its products and its services. The focus of user experience is to find the synergy between the business goals and user needs. In simple words, it is about how the user feels while using your application, website or software. It caters to the user with preferences, perceptions, emotions, feelings and much more. A positive UX design enhances usability, accessibility and pleasure the interaction with your website or app.

When users come to your website or mobile app, there are tasks you want them to complete successfully. These actions support your business goals. It could be signing for a free trial or a newsletter, purchasing something, creating an account, calling your number. A poor experience will prevent people from doing these things.

UX at present scenario:

The role of UX design is to help users achieve goals. UX designers combine the knowledge of human psychology with research and logical skills, which gives them a superpower – they can discover how to design to achieve the results you want.

Increases Conversions:

Many websites are selling the same product. But customers chose to open websites with easy and effective user experience. Increase in the number of visitors results in growing conversion rate. Since investing in UX design increases the company revenue, partnering with a professional UX design agency is a sound strategy.

According to a study published by Forrester Research stated that, while a great UI could increase the conversion rate of a website by 200%, a great UX could increase the same by almost 400%. Also, according to research done by Forrester, says that usability has a big effect on customers satisfaction; so much so that it:

Lower Support Cost

Having right user experience makes it easier for your visitors to get all the information about the product or services on your website. If users are getting answers to all their queries on the website itself, they will not have to email you or call you. This will lower your support cost.

Supports SEO

There is a significant contribution that an effective UX design makes when it comes to SEO ranking, in addition to link building campaigns – learn more on how to buy backlinks. The ultimate goal of a search engine is to provide users with information in a fast and convenient way. There are various factors that a search engine uses to track user engagement, UX design has a direct and powerful impact. UX design has many factors to focus on, major factors are:

• Load time or page speed. (Note: website speed is paramount for UX, and hosting is crucial in order to have a faster website. Buy a quality, fast host, even if they’re a bit on an expensive side. Don’t settle for mediocre hosts that you can get ultra-cheap on Black Friday (for example this one) and that you will quickly regret buying later on. opt for quality right from the start, and your visitors will thank you for it.
• Mobile responsiveness.
• Implementing a user-friendly URL structure.

Increases brand loyalty

Brand loyalty is the tendency of a consumer to buy the same brand of goods repeatedly, rather than competing brands. Building brand loyalty is the core of any business. Hassle-free user experience doesn’t just impress users on first sight but retain them for a long-lasting relationship. A user centred UX designing and continuous bug fixing are the keys to user retention and maintaining brand loyalty.

Right UX save cost in the long run

Paying attention to UX design in the initial stages of product development is very critical. If you don’t have the right UX and build the product after spending huge money, your customers will not stick to the product. Rebuilding the product after launch will cost time and money, sometimes even forcing entrepreneurs to abandon their product.

According to Robert Pressmen’s book “Software Engineering: A Practitioner’s Approach” “For every dollar spent to resolve a problem during product design. 10 dollars will be spent on the same problem during development. and multiply it to 100 dollars or more if the problem had to be solved after the product’s release.” An effective UX designing can save a significant amount of cost in product development.

Investing in UX

From the business point of view, you should focus on UX early in the product development. If you ignore usability and user needs, there’s a high chance you will release a product that doesn’t perform the way you wanted. At that point, you will have sunk time, financial and human costs in development. Even worse, you will have to spend even more money to fix and rework the product.

This is why you should treat UX as an investment in your company. Catching and fixing UX issues early in the design/prototyping stage will mean less costly rework down the road. It has been estimated that for every $1 to fix a problem during design, it would cost 5x more to fix the same problem during development and 30x times more after the product’s release! Since software development is always pretty expensive, it just makes sense to invest in UX design.

Measure Business Value in Key Metrics

Data is critical and absolutely necessary when speaking about business value. It helps executives make decisions based on facts and statistical numbers. When talking about the growth of our business, we use financial, operational, HR, marketing or sales data. The same rule applies to product development – you need data to evaluate how the implemented solutions affect your business. The data of the increased key metrics is the best way to see the business value of UX.

Examples of platforms with modern UX design

If you look at companies with well-designed UX. They are in the billions in terms of revenue. An iterative UX design helps engage more audience and generates revenue which results in growth. Below are a few examples:

Airbnb

Airbnb is an online platform that connects people who want to rent out their house with the people who are looking for accommodation in the local area. It has been expanded to over 8100 cities and 191 countries. They make a continuous change with their UX design. The company is known for its best UX design and that is the reason why people use Airbnb over other options available. In 2018 the company generated revenue of $1 billion and In August 2019 a gross revenue of $4,308,726,681 was generated which is 21% of yearly growth. Many case studies depict that the reason for Airbnb growth is that the company is laser-focused on improving its user experience.

Netflix

Netflix is a streaming service known for its variety of content which are award-winning TV shows, movies, documentaries and more with an amazing UX. They have an omnichannel seamless user experience in mobile, tablets, TV as well as desktop. Netflix has a reputation for providing seamless user experience regardless of the device it is being used into. In 2020 Netflix generated revenue of $20.15 billion and $5.73 billion so far in 2021.

Spotify

Spotify is a music streaming platform. The net worth of Spotify has now reached $26 billion. There has been tremendous growth in the platform for the last 5 years. As you can see the difference here. There are several music streaming platforms. Others do not offer the user experience as good as Spotify.

UI UX working Terminology that every designer should must know

Conclusion

By 2023, customer experience will overtake product and price as a key brand differentiator. It is required to think forward and understand the investment in UX design and its potential. This is the time to shift focus from business goals to user goals, to stay ahead of the curve in the rest of 2020 and upcoming years. It is important to hire an experience design firm and consider UX designing as a critical part of the development process. It is one of the processes you cannot afford to downplay, as UX is going to be the core of your digital product.

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