Originally published in the Australian Financial Review. Illustrations: Simon Letch.
User experience, or UX, is the commercial engine of the internet, yet corporate Australia typically fails to unlock its full value.
UX can dramatically increase revenue, customer satisfaction and customer loyalty, but instead the general emphasis is on a good-looking website.
For many corporations, particularly those that transact online, UX is a company’s best opportunity to achieve a sustainable revenue increase that makes an impact.
1. Introduce the right upsells
Entice customers to spend more on things they want. The Village of Useful’s work on a national travel website increased revenue by 20 per cent with the right upsells.
2. Make it easy to pay
People want to buy products, not sign up for email. One retailer added $300 million a year by changing a single button in the payment process.
3. Speed matters
Don’t waste your customers’ time. Virgin America increased its online conversion rate by 14 per cent by streamlining bookings to less than 60 seconds.
4. Make decisions for your customers
Show them reviews and help them spend. Amazon’s “Was this review helpful to you?” feature increased sales by an estimated 20 per cent in the first year.
5. Keep it simple
Insurance company Progressive is famous for its five-screen mobile claims, the simplest in the industry. It is valued at more than $US27b ($35b) and is one of Forbes’ ‘100 Most Trustworthy Companies’.
Originally published in the Australian Financial Review. Illustrations: Simon Letch.