This week we are back with our second edition of our new Back-of-the-Napkin Impact series, all about giving researchers simple ways to turn usability metrics into easy and straightforward business impact. With Alida’s new UX Impact Calculator, clearly show the importance of your work with stakeholders without the fluff.
Last week, we talked about saving money through Support Deflection. This week, we’re talking about making it.
Part 2: “Revenue Leakage”
Nobody likes leaving money on the table and in this economy, very few businesses can afford it. By using our new tool to calculate potential gains, you can show leadership exactly how much money is lost when UX strategy is ignored, and it really doesn’t have to be complicated. Sometimes the fix is small but the impact on the end product is massive.
Take the example of the $300M button. A major retailer used to prompt their users with "Login" or "Register" buttons right before they could finish their purchase, creating massive friction. The reality was, some customers didn’t want to create accounts while others who already had one simply couldn’t remember their passwords.
By leveraging their UX team to look more closely at the checkout experience, the company made one small but mighty shift.They added a "Continue as Guest" button and the results were immediate. Customer purchases increased by 45% which resulted in an extra $300M in that first year alone. Even better, 90% of those customers ended up creating an account later in the process anyway. Long story short, the revenue left on the table when companies skip UX investment can be astronomical.
Ready to see what your friction points are actually costing you? We built a tool to do the heavy lifting for you. Try Alida’s UX Impact Calculator today.
Join our Next Era of UX Research Conversation! On March 26th, we are sitting down to talk to some of the brightest minds in research, all about where user research is actually going. Grab your spot for the webinar here.
