Creating a product and adding value to the product are two different terms. It does not matter how slick the design or content is until it does not fulfill the needs of the customer. On an enterprise level, if an application is unable to provide what intends to, it shows a complete apathy towards the needs of the user.
Nowadays, every application or product strives to catch the attention of the users at first glance. To keep the user hooked to your product, you need more than fancy designs or animations. Providing your users with a pleasant experience with features that fulfill their needs would help your product connect with its audience in a better way.
A concept rather unknown to many brands is that a good UX design by top UI/UX design agencies can help increase the profit from your product/service. The way a good UX can help you in maximizing the return on investment is unthinkable. The different techniques of design-thinking help in removing redundant and unusable features from the product and make it more accessible and understandable to the users. The best UI/UX design agencies help in creating impeccable design strategies for your product to make your business more profitable.
Let’s take a look at different ways UX affects your revenue:-
- Reduced development time – Every company wants to work on a budget, and if a technique can help you control the development cost, then nothing like it. An experienced UI/UX design agency helps cut down the development cost of the product considerably. Through the different steps of UX design namely, user research, information architecture design, prototyping, and usability testing, the designer works on making the product as close to the needs of the user as possible. A prototype of the product makes it easier to predict the estimated time and effort that the product requires. And, the usability testing helps in getting clarity on the functionalities of the product, thereby saving the team from going back and making fundamental changes to the product at the time of implementation.
- Customer retention – We sometimes wonder why a product works better than it’s competitor even when they deal with the same service. Well, it is the UX design of the product that makes it easy to use and wins the loyalty of the customer. By building the features around the needs of the user, you gain a substantial amount of customer base and are also their trust. With the help of top UI/UX design agencies like Semiqolon, you can maintain the loyalty and interest of your users.
- Lower support cost – An app that has it’s UX in place works like a dream. It completely dismisses the role of training, documentation, and customer support costs.
- Builds trust and Brand identity – UX helps in maintaining brand consistency, which facilitates customer trust and better recognition. A better reputation means better business and returns.
- Increase in Sales – Strategically placed Call to actions result in increased sales and transactions. A good UX design by top UI/UX design agencies ensures that clear CTA’s are available to the user in the first glance itself.
- Less wastage of Resources – Time and money are valuable resources, and by investing in UX design, you can minimize its wastage. User experience research by experienced UI/UX agencies is capable of detecting inefficient solutions and their implementation and saves you from wasting vital time and resources.
- Increased Productivity – A good UX design allows customers to be more productive by reducing the number of steps required to achieve their goals. The financial impact of increased user productivity can be quite substantial for your business.
The way a good UX can help maximize the return on your investment is unthinkable. The different techniques of design-thinking applied by best UI/UX design agencies help in removing redundant and unusable features from the product and make it more accessible and understandable to the users. The difference UX design can make to the ROI can also be calculated through different formulas, which further reiterates it’s quantitative benefits.
ROI Calculation – (Usability GOV)
- (# of errors) x (avg. repair time) x (employee cost) x (# of employees) = cost savings
- Example: (2 errors/week) x (60 mins) x ($30/hour) x (100 employees) = $6,0000/week or $300,000/year
- Cost of Development and Maintenance:
- (# of changes) x (avg. hrs/change) x (cost of developer) x (4, if late) = cost savings
- Example: (20 changes) x (8 hrs each) x ($40/hour) = $6,400 if fixed early or $25,600 if changed late
- (time saved) x (employee cost) x (# of employees) = cost savings
- Example: (1 hr/week) x ($30/hr) x (1000 employees) = $30,000/ week or $15,000,000/year.