Imagine you bought a pair of headphones from an online store. The seller has sent you a counterfeit product of poor quality that does not meet the product description and is not worth what you paid.
How would you describe the experience of buying headphones from the seller? Was it pleasing? Will you use the service again or recommend it to anyone? Obviously not. The reason you will never trust the seller and use the service again is because of the bad experience.
You might have got an idea of the importance of User Experience (UX) after the above assumption. The term UX defines the experience of the user after interacting with the product, service, or business. It is an essential key to success and can help you take your business to the highest level as the sky’s the limit.
UX is important in every industry as it deals with a lasting impression on the user. It is a broad term that refers to every possible interaction with the product or service, including digital services. In this post, we will have an in-depth look at why UX investments are worth making in every way, especially in the metaverse industry (virtual 3D environments, avatars, augmented reality, gaming, social media, cryptocurrency, etc.)
Let’s start the discussion.
1) Excellent ROI
The most appealing and eye-catching benefit of UX investments is the excellent return on investment. The goal of every investment is getting a worthy ROI, and investors invest after analyzing the return.
According to various research, the ROI of UX investments ranges from 10–100X. It means if you invest $1 on UX, you will probably get $10–100.
Thus, your business revenue will increase drastically if the UX is better. The investment is worth it.
2) Offers What Exactly Users Want
The reason UX investment brings an excellent ROI is that it analyzes the behavior of the user and what he wants. It analyzes the clicks, views, pages, and other data to give everything that the user needs.
When the user gets what they want, they become happy and like the experience. For instance, you are playing an interactive 3D game. There is always an expectation from the graphics, character characteristics, story, and other elements of the game. If everything is according to the player, he will like the game and love to play it.
3) Identifies Issues in Early Stages
When businesses focus on the UX, they create a prototype in the early stage. The prototype is not the final version as it needs improvements and amendments based on the users’ feedback. Due to prototyping, the errors are mitigated in the final version.
You might have used or heard about the latest iOS 15.4 beta 5. It is the beta version of iOS. Similarly, other software and applications also have the beta version initially. It is because the version is being tested, and the final version is released after necessary amendments.
You might have heard the term “dogfooding”. It is slang used in the IT industry and refers to the use of applications, games, or software by the employees and trusted people before the launch for the public. It helps in finding the bugs and issues so that the final version could be free of that.
3D games, virtual reality apps, augmented reality apps, and other metaverse items go through prototyping to reduce the errors in the final version. If there are fewer bugs and errors, the user will have a great experience.
Simply put, UX investment reduces the errors in the final version and offers a better experience for the users.
4) Better Reach
UX investments improve the reach. Let’s understand with an example.
Suppose someone tries your VR game. The game was immersive and interactive, and the player liked your game. The user is likely to recommend it to friends, family, and social media friends. Consequently, the reach of the game is increased.
The player can also give a good review of the game. Other people will see the review and download it. Some users can also recommend and give reviews using their vlogs and blogs.
It also helps in building the brand identity. The users will get to know about the brand, and it will become an identity with time.
Overall, UX investments improve the reach of your product or service.
5) Improved Customer Retention
The UX leaves a lasting impression on the user. You can recall the assumption we made at the start of the post. You would never like to use the service of the seller.
On the other hand, if you have a good experience with any seller, you will likely use the service again. Thus, a good experience ensures customer retention.
In metaverse, such as cryptocurrency, if the experience of the user is good, the user will repurchase the cryptocurrency. Moreover, he will recommend the currency to others.
So, when you invest in UX, you improve customer retention, which ultimately creates a brand identity and trust.
Reduces Development Cost
UX investment reduces the development cost. For instance, if you are developing a game, there will be many errors and bugs in the initial version. You cannot afford to release this version for the public. The bugs and errors should be minimized before making it for the public, so a prototype version is made first.
When you don’t invest in the UX or prototype and release the game, the users have bad experiences. There will be bad reviews. You might have seen such reviews on Play Store or App Store. These are just because of not investing in UX.
When there are bugs and errors, you get more support queries. You need to solve their problems and make amendments to the app and release the version again. It costs you a lot to deal with problems and release newer versions. Thus, the development cost is significantly increased.
Therefore, adequate UX investment is a must. It reduces the overall cost of the development.
UX investments are worth making in every way. We have seen there is no loss in investing in UX as it is likely to give an excellent return on the investment. It also helps in improving customer retention, brand identity, and brand reach by improving the customer experience. It helps create the right product or service according to the target customers and reduces possible errors in the development.
Simply put, investing in UX has tons of benefits, and there is nothing to lose. Invest in the UX and take your business to the next level.
This first appeared on medium