Cheat sheet: ROI of Customer Experience & Design
March 13, 2022
How to convince executives to invest in design and customer experience is one of the biggest challenges design leaders face around the world. To make it easier for you, we've compiled some of the most well-known KPI’s in the list below.
- Customer experience leaders grow revenues 4% - 8% above their market - Bain & Company
- Good customer experience improves customer loyalty. It can be five times more expensive to find a new customer than to keep a current one. The probability of selling to a new prospect is 5-20%, while the probability of selling to an existing customer is 60-70% – Marketing Metrics.
- 2% increase in customer retention has the same effect on profits as cutting the costs by 10%. – Murphy & Murphy
- Customer-centric companies are 60% more profitable compared to companies that are not focused on the customer. – Deloitte
- 84% of organizations working to improve CX report an increase in revenue. – Dimension data
- CX leaders are more likely to exceed their top business goals – Gartner
- Brands with superior CX bring in 5,7 x more revenue than competitors that lag in CX.
- An improved UX design results in a 2x increase in time-to-market and greater ROI - IBM
- 50% reduction in maintenance costs: Good UX means more usable products being shipped, resulting in less fixes in the future. IBM
- Companies who best utilize design grow their revenues and shareholder returns at nearly twice the rate of their industry counterparts – McKinsey
- 50% less wasted development time. UX helps define usability requirements up front, avoiding re-work. – Future Mind
- $1 spent on UX will bring from $2 up to $100 in return. – Forrester
Please let us know if you have any more figures in your pocket that aren't on the list and we'll add them.