April 16, 2018 James Burke

Love The Experience – A Competitive Differentiator

/ləv T͟Hə ikˈspirēəns/ – noun. a competitive differentiator.

Very few organizations understand why they do what they do. As an integrated marketing group, we work with our clients to understand their purpose, cause or belief – it’s one of the most difficult exercises in our overall engagement strategy because many times our clients find it difficult to answer one simple question – why does your company exist? The data supporting the success of a “why” based company (instead of one that focuses on “what” or “how”) is irrefutable (future blog post).

At Consensus, loving the experience is part of our DNA – it’s where we come from. It is the single thread of why that brings us together each day in Boston’s South End and across our satellite offices in Miami, Brussels, Lviv and Kolkata. It is about delivering an experience that delights – from the start of an engagement, through rounds of creative and content and ultimately to the delivery on ideas for a client. There is no single deliverable event more exciting then that first reveal of home page, app or campaign. It is the culmination of hours and hours of research, ideas and wireframes.

Measurable Advantage

Loving the experience creates a measurable business advantage for our clients. A well-crafted experience — one based on customer motivators, emotional design, and relevant interactions — can make the difference between a loyal, repeat customer and one who clicks away.

Despite the data, many of our clients continue to under invest in user experience (UX) and design thinking in spite of the fact we watched as Apple became the most valuable company in the world betting on delightful experiences.

Great experiences are a competitive differentiator. The more a user loves the experience, the greater the return-on-investment. Let’s take a look at some important data across a number of ROI experiences to get a sense of the overall impact:

Net ROI. Forrester Research shows that, on average, every dollar invested in UX brings 100 dollars in return. That’s an ROI of a 9,900 percent.

Really big numbers. According to Baymard Institute, a 69.23% average shopping cart abandonment rate translates into millions of customers leaving their goods at the checkout due to poor user experiences. The e-commerce industry could have saved $1.42 trillion just by implementing better checkout flow and design based upon an improvement in conversion rates.

Overall. Studies show that companies that invest in UX see a lower cost of customer acquisition, lower support cost, increased customer retention and increased market share, according to a study done by Forrester.

Optimized Development time. A few years ago Experience Dynamics revealed that the input of a UX designer reduces the amount of time developers have to re-work a product by up to 50%, and reduces development time overall by between 33% and 50% by improving decision-making and helping to prioritize development tasks.

Reduced Support Costs. Support costs increase when products have a poor UX design because more users need help. This requires more support staff to reply to phone calls and emails. A recent cost estimate suggests that it costs about $1 per minute for the average call center to service a customer. If 100 people call tech support for 10 minutes each, that’s $1,000.00.

Increased User Satisfaction and Brand Loyalty. Customers are more likely to be satisfied, remain loyal to and engage with a brand if the product offers a good user experience. According to Avaya, over 75% of consumers said they were likely to continue spending money as a result of an exceptional customer experience, while 82% would stop spending money with a company as a result of a bad customer experience.

Conclusion

The functionality, design, and tools on a website or mobile app that captures your attention, draws users into a purchase funnel, and achieves your business goals creates the ultimate “user experience.” How do we get you to love this experience? It’s simple. We create fantastic design, experiences that satisfy, and ultimately experiences that win. #lovetheexperience

Want to learn more? Please feel free to contact us at [email protected].