In today’s marketplace, a brand’s ability to create memorable and satisfying experiences for its customers is what separates the winners from the losers. To deliver that great customer experience, you need to understand your customers and integrate real human insights into the decision-making process. UserTesting’s Human Insight Platform helps you do exactly that!
A recent Total Economic Impact™ (TEI) Study conducted by Forrester on UserTesting’s Human Insight Platform found that companies using the platform increased conversion rates by 0.5% each year. As a result, the average customer spend increased by $7, and the average profit improvement per organisation increased by $384,400 over a three-year period. Brand loyalty and customer satisfaction also improved.
The platform also delivered considerable cost savings. The costs associated with lab testing, essential to measure user experience (UX), reduced by 70%. The platform delivered a whopping 665% ROI.
UserTesting enables companies to hear what their customers say and mean through video-first customer experience narratives (CxNs). CxNs offer companies deep, customised insights that help them create better experiences. The Human Insight Platform makes a departure from conventional analytical tools by offering companies vivid, first-person understandings of an experience by customers, as they engage with the apps, designs, processes or concepts associated with the organisation. UserTesting’s extensive global contributor network, custom networks, invite network, and customer communities offer a rich customer base that makes such insights possible.
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The Importance of Customer Experience (CX)
Business success in today’s hyper-competitive business landscape depends on understanding customers.
Successful businesses measure customer experiences in near real-time. But research on understanding the customer and evaluating the user experience takes a lot of resources and time. Most enterprises falter in the task and deliver a poor customer experience (CX).
Traditionally, enterprises rely on lab testing and quantitative testing methods to evaluate customer and user experiences. Lab testing involves usability testing, eye-tracking and biometric testing, or surveys and questionnaires. Most of these methods are complex, expensive, and not easily scalable. The quantitative metrics that measure CX include net promoter scores, customer satisfaction scores, customer churn rates, and conversion rates. These metrics lack the qualitative details necessary to understand the customers fully.
Also, the lack of a reliable and accurate feedback mechanism often drowns the customer voice from the decision-making process. Enterprises spend considerable money on understanding customers but still end up in a situation akin to throwing spaghetti up the wall and seeing what sticks. The decision-makers end up making poor, uninformed decisions that miss the desired outcomes. The ultimate result is often misaligned business stakeholders and customer discontent.
That’s where UserTesting’s Human Insight Platform comes in. The platform offers marketers and business executives comprehensive and flexible solutions to integrate quality customer feedback with real human insights across the organisation.
The platform delivers on-demand feedback on customer experiences across channels, device types, and stages. It leverages machine learning and other emerging technologies to enable marketers to hear what their audiences say and see what they mean.
Marketers who use the platform can reach target audiences globally for rapid feedback and scale easily. They can integrate customer insights into decision-making processes to make customer-centric decisions.
The Forrester Research study on the potential ROI of UserTesting’s Human Insight Platform finds that companies who use the platform increase conversion rates and save costs.
The study quantifies the risk-adjusted present value (PV) of benefits per company, on average, over a three-year period as follows:
- Profit improvement of $812,700 through increase in conversion rates by 0.5% every year. The improved conversion rates come from improved ease of use, and making digital properties and marketing materials more discoverable and accessible.
- Increased revenues of $384,400 per company, owing to an increase in annual customer spend by $7 on average. The insights offered by the platform enables companies to make informed decisions that improve the customers buying behaviour.
- Cost savings of $627,500 per company through reduction in development cycles by two weeks. The insights from the platform aligned design cycles with customer insights better and expedited the decision-making processes.
- Cost savings of $176,700 from 50% reduction in time spent on material creation for marketing teams. The platform streamlined decision-making and reduced rework cycles, to improve the marketing material creation process
- Savings of $336,500 on lab testing costs. The platform eliminates 70% of costs associated with lab testing.
The Usertesting Human Insights platform delivers:
- Better marketing collaterals,
- Time savings,
- Cost savings,
- Higher conversion rates,
- and a whole lot of other unquantifiable benefits.
Better marketing collaterals
The Forrester study reveals that the enterprises who used the Human Insights platform had a common use case of extending capabilities to marketing teams. UserTesting’s Human Insight Platform enables customer feedback and insights across the organisation’s digital properties and marketing collateral. These insights and feedback enabled marketing teams to analyse their materials for accessibility, readability, and brand voice.
Successful conversions depend on speaking to customers how they want to be spoken to and in a way that engages them. Marketing executives taking feedback from the UserTesting platform write clearer product descriptions and other marketing content, to improve the readability of marketing collaterals. The informed changes to the design of digital assets make it easy for customers to find what they seek. Customers who have access to highly optimised and relevant content traverse the sales funnel more easily. The positive impact of such actions include better conversion rates, increase in sales, and better brand loyalty.
Enterprises often suffered from extended design cycles owing to inefficiencies and a lack of cohesion across stakeholders in the decision-making process. The Human Insights platform allowed enterprises to run more qualitative tests quickly. Such insights enabled focusing on the most critical areas and validating the decision-making process.
Time savings
Companies using UserTesting’s Human Insight Platform align customer and stakeholder insights better. The better alignment expedites the decision-making process and reduces rework.
The platform offers ready-made automated analytics on the feedback related to the accessibility, readability, and brand voice of the marketing collateral. Accessing such reports saves considerable time compared to going through traditional routes. The platform does all the time-consuming tasks, including audience recruitment, profile management, quality control, onboarding and support, and more. The organisation goes through shorter design cycles and reduces rework, enabling faster time-to-market. Faster release of products delights customers, frees up development resources for new projects, and reduces costs.
The platform enables micro-testing of customer-facing marketing copy at the creative execution level, furthering integrated marketing, and eliminating back-and-forth review cycles. The Forrester study on UserTesting assumes that an enterprise with a marketing team of 15 full-time employees saves 50% of its time. The average enterprise redirects 30% of the time savings towards value-added work.
The faster time-to-market also increases business value. This is a qualitative value that cannot easily be quantifiable.
Cost savings
Using UserTesting for qualitative research allows organisations to run tests quickly and save the high fees associated with lab testing.
Marketers may conduct usability testing, live interviews, clickstream tracking, and a host of other tests. The platform offers a host of intuitive functionalities, such as a drag-and-drop test builder, template gallery, an ML-powered test distribution engine, and more.
Higher conversion rates
The Forester study indicates higher conversion rates for organisations that embrace UserTesting’s Human Insight Platform.
One enterprise that embraced UserTesting’s Human Insight Platform quadrupled conversion rates and increased e-commerce sales by millions of dollars per month. Another organisation used the feedback provided by the platform to make its website more discoverable and more engaging, resulting in a huge increase in web traffic. In another benchmark study, the feedback from the platform identified an issue that meant 75% of Android users could not check out. Without UserTesting, the bug would have remained undiscovered, leading to millions of lost sales. In another instance, UserTesting improved the conversion rate from 2% to 3.5% over two years.
The Forrester study on UserTesting’s Human Insight Platform estimates that better customer experiences lead to customers spending more, boosting profit. UserTesting increases lifetime customer value by 140%.
Developing a culture of customer empathy
Not all benefits are quantifiable. Forrester’s study shows that UserTesting’s Human Insight Platform delivers several qualitative benefits, not easily quantifiable.
One of the significant qualitative benefits is fostering a culture of customer empathy. Placing customer needs at the centre of the decision-making process leads to better empathy for customer needs.
The availability of qualitative testing data backs up the insights and brings customer needs closer to decision-makers at all levels. Decision-makers empathise with the customers and make better decisions. In the process, customer satisfaction scores improve.
In today’s tough business landscape and uncertain economic conditions, businesses engage in an all-out war to woo their customers. UserTesting’s Human Insight Platform becomes a valuable arsenal to net the customer.
Click here for the full Forrester report, complete with the specifics of each study, including dollar values of potential savings and gains. This study will help your enterprise identify specific areas of CX improvement and make explicit baseline saving amounts.
