Noel Burkman

VP, Web & Mobile Development

The Financial Case for Experiential Design and Development

"Better" is a construct I talked about in the first post of this series on Experiential Design and Development, explaining that “better” means pursuing a continuous effort towards improving user experience vs. engaging in a static project with a finite beginning and end. Ultimately, “better” is measured by the financial impact to your business, be it an increased brand awareness, user acquisition, or transactional conversion.

When we think about user experience and web development, traditional project-based thinking is stifling when it comes to maximizing value, ROI, revenue, or whichever financial metric you choose for measurement. Why? As stated in the previous post, “You do your best to capture requirements from stakeholders, subject matter experts, and users. However, that data represents a specific moment in time. Like a photo, the world keeps going after a picture is taken. I hope you took a quality snapshot because you are going to live with it for the next 18 - 36 months or more. Staying relevant requires iterating with the process."

Project-based thinking for web development was likely sufficient for most web experiences as recently as three years ago. Alas, the world is becoming more dynamic every day. Static modalities of experience creation are becoming a thing of the past. Return on investment will rely on the ability to be more dynamic and adaptive, and that's what Experiential Design and Development is all about.

Here’s a comparison of how the potential financial impact from each approach breaks out:

Tracking your experiential design needs against your budgetIn short, to survive and thrive, businesses need to adjust their modes of operations to allow for more dynamic and data-driven approaches to grow revenue. The ability to create dynamic experiences in real-time is quickly becoming a required strategy in order for brands to maintain market share and a healthy profit margin.

03/09/2018 at 06:56

Subscribe to
the Rise Blog

Sign up to receive valuable industry content, delivered straight to your inbox.

or Close this form

 

Want More?

Subscribe to the Rise blog and we'll let you know when new articles are available.

You might be interested in:

Blog / Strategy

Exploring the Generation Gap with Senior-Level Marketers at IMLS

Read More

Many brands task their marketing teams with attracting millennial customers. Perhaps that is [...]

Blog / Web & Mobile Development, Customer Experience, Analytics

Creating a Data-Driven Vision for Your Brand’s New Website

Read More

Do you have a data-driven understanding of your audience’s behavior on your website?It [...]

Blog / Web & Mobile Development, SEO, Trends

Google’s Mobile-First Update: What It Means for You

Read More

By 2017, 75% of U.S. internet users will access the web via mobile device. Over the past few [...]