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

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