In the ‘age of the customer’, IT leaders should be paying particular attention to the growing business case for UX testing and research, writes Chloe Green in Information Age.
Numerous studies have found that every dollar spent on UX brings in between $2 and $100 dollars in return. Forrester revealed that ‘implementing a focus on customers’ experience increases their willingness to pay by 14.4 %, reduces their reluctance to switch brands by 15.8 %, and boosts their likelihood to recommend your product by 16.6 %‘.
On November 1, 2006, two UX designers, Geoff Teehan and Jon Lax, tracked 10 companies in their UX Fund and invested $50,000 in the fund. After one year the UX Fund matured 39.3%, outperforming NASDAQ, S&P 500 and NYSE, while after four and a half years the UX Fund matured 101.8%.
Source link https://blog.experientia.com/the-impact-of-ux-on-company-performance/