Calculating and communicating the ROI of UX research in your organization
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Who turns down an opportunity to make a 500%–700% return on their investment??
That is the ROI of UX research that many companies are getting, says David Kerry, MBA, P.Eng. , Global Value Engineering Director at UserTesting.?
In this #InsightsUnlocked episode, Dave joins Andy MacMillan , UserTesting’s CEO, to calculate the value of doing UX research.
“We see a gap between UX research teams and their executives who want their business to be customer centric,” Dave said. “They fundamentally understand the importance of talking to their customers, but they don’t fully grasp the impact of this work.”
Dave emphasizes that without showcasing tangible business value, UX research risks being undervalued, potentially leading to budget cuts and layoffs.
Dave has worked with close to 350 UserTesting customers, across 19 verticals, to examine the financial and P&L impact of their UX investments. From that research, he has identified four value drivers of UX research:
For the companies that are investing in UX research, he said, they typically see a 5x to 7x return on their investment in these activities. “And for the folks that aren’t,” he said. “Quite frankly, they’re being left behind.”
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By aligning UX insights with business goals and effectively communicating these outcomes, teams can ensure their work is not only recognized but also integral to strategic decision-making.
But how do you get started??
“An old trick from my consulting days is to think about what makes a good day for you,” Dave said.?
Identify that activity and start measuring the outcome from it. “It will help build that muscle,” Dave said. “From there, being able to align those activities and outcomes to business goals.”
To help, talk with your boss or their boss to learn how they’re being measured and consider how your work can help those goals. Establish benchmarks to measure against and set a regular measurement cadence. Then, share those results out with the organization (they’ll let you know if you’re off-target or not).
Listen to the full episode to hear more on Dave’s and Andy’s insights on the ROI of UX research.