Making the Complex Simple: Clarity as a UX Superpower in Financial Services

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In the rapidly evolving world of user experience research (UXR), demonstrating value and impact has become more crucial than ever. While traditional metrics like Customer Satisfaction (CSAT) scores and Net Promoter Scores (NPS) have long been the go-to measures for UX professionals, they often fall short in capturing the full scope and depth of UXR's impact. As organizations increasingly recognize the strategic importance of user-centered design, it's time to explore more comprehensive and nuanced approaches to measuring UXR's contribution.

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Limitations of traditional metrics

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CSAT and NPS, while valuable, have significant limitations when it comes to measuring UXR impact. These metrics provide a snapshot of user sentiment but fail to capture the direct influence of research insights on product decisions, business outcomes, or long-term user behavior. Moreover, they can be influenced by factors outside of UXR's control, such as marketing campaigns or competitor actions, making it challenging to isolate the specific impact of research efforts.

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Another limitation is the lack of context these metrics provide. They don't offer insights into why users feel a certain way or how specific research-driven improvements contributed to their satisfaction. This absence of depth can lead to misinterpretation of data and missed opportunities for meaningful improvements.

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Alternative measurement approaches

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To overcome these limitations, UX researchers are exploring alternative approaches to measuring impact. One promising method is the use of proxy measures that more directly tie to research activities. For example, tracking the number of research-driven product improvements implemented or measuring the reduction in customer support tickets related to usability issues can provide more tangible evidence of UXR's impact.

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Another approach gaining traction is the integration of qualitative data into impact measurement. By combining quantitative metrics with rich, contextual insights from user interviews and observational studies, researchers can paint a more comprehensive picture of how their work influences user behavior and product success.

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Linking UXR to business outcomes

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Perhaps the most powerful way to demonstrate UXR's value is by directly connecting research insights to key business outcomes. This requires a deep understanding of organizational goals and close collaboration with stakeholders across functions. For instance, if a key business objective is to increase user retention, UX researchers can focus on identifying drivers of user loyalty and track how research-driven improvements impact retention rates over time.

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Risk reduction is another critical area where UXR can demonstrate significant value. By validating product concepts and designs before launch, researchers can help organizations avoid costly mistakes and reputational damage. Tracking the number of potential issues identified and resolved through research can provide a tangible measure of this impact.

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Case studies of successful impact measurement

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While standardized metrics for UXR impact remain elusive, some organizations have successfully implemented innovative measurement approaches. For example, one technology company developed a "research influence score" that tracks how often research insights are cited in product decision-making processes and the subsequent impact on key performance indicators.

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Another case study involves a financial services firm that implemented a "research ROI calculator." This tool estimates the potential cost savings and revenue increases associated with research-driven improvements, providing a clear financial justification for UXR investments.

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These case studies highlight the importance of tailoring measurement approaches to the specific context and goals of each organization. By thinking creatively and collaborating closely with stakeholders, UX researchers can develop meaningful ways to quantify their impact and demonstrate the strategic value of their work.

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As the field of UXR continues to evolve, so too must our approaches to measuring its impact. By moving beyond traditional metrics and embracing more holistic and business-aligned measurement strategies, we can ensure that the true value of user research is recognized and leveraged to drive organizational success. The future of UXR lies not just in conducting great research, but in effectively communicating its impact and cementing its role as a critical strategic function within modern organizations.

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Maximize UXR ROI with Optimal 

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While innovative measurement approaches are crucial, having the right tools to conduct and analyze research efficiently is equally important for maximizing UXR's return on investment. This is where the Optimal Workshop platform comes in, offering a comprehensive solution to streamline your UXR efforts and amplify their impact.

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The Optimal Platform provides a suite of user-friendly tools designed to support every stage of the research process, from participant recruitment to data analysis and insight sharing. By centralizing your research activities on a single platform, you can significantly reduce the time and resources spent on administrative tasks, allowing your team to focus on generating valuable insights.

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Key benefits of using Optimal for improving UXR ROI include:

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• Faster research cycles: With automated participant management and data collection tools, you can complete studies more quickly, enabling faster iteration and decision-making.

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• Enhanced collaboration: The platform's sharing features make it easy to involve stakeholders throughout the research process, increasing buy-in and ensuring insights are actioned promptly.

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• Robust analytics: Advanced data visualization and analysis tools help you uncover deeper insights and communicate them more effectively to decision-makers.

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• Scalable research: The platform's user-friendly interface enables non-researchers to conduct basic studies, democratizing research across your organization and increasing its overall impact.

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• Comprehensive reporting: Generate professional, insightful reports that clearly demonstrate the value of your research to stakeholders at all levels.

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By leveraging the Optimal Workshop, you're not just improving your research processes – you're positioning UXR as a strategic driver of business success. Our platform's capabilities align perfectly with the advanced measurement approaches discussed earlier, enabling you to track research influence, calculate ROI, and demonstrate tangible impact on key business outcomes.

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Ready to transform how you measure and communicate the impact of your UX research? Sign up for a free trial of the Optimal platform today and experience firsthand how it can drive your UXR efforts to new heights of efficiency and effectiveness. 

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Recently, Optimal Workshop partnered with Eniola Abioye, Lead UX Researcher at Meta and UXR Career Coach at UX Outloud to host a career masterclass featuring practical advice and guidance on how to: revamp and build a portfolio, emphasize the impact of your projects and showcase valuable collaborations. It also included panel discussions with experts from a variety of roles (UX, product management, engineering, career coaching and content design) talking about their journeys to becoming UX leaders. 

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Keep reading to get key takeaways from the discussion on:

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• How to show the impact of your UX work
• Common blockers in UX work
• How to collaborate with cross-functional UX stakeholders 
• How to build a resume and portfolio that uses industry language to present your experience

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How to show the impact of your UX 💥

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At a time when businesses are reducing costs to focus on profitability - proving the value of your work is more important than ever. Unfortunately, measuring the impact of UX isn’t as straightforward as tracking sales or marketing metrics. With this in mind, Eniola asked the panelists - how do you show the impact of UX in your work?Providing insights is simply not enough. “As a product manager, what I really care about is insights plus recommendations, because recommendations make my life easier,” said Kwame Odame. 

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Auset Parris added her perspective on this topic as a Growth Content Designer, “the biggest thing for me to be impactful in my space [Content Design] is to consistently document the changes that I’ve made and share them with the team along with recommendations.” Auset also offered her perspective regarding recommendations, “recommendations are not always going to lead to the actual product executions, but recommendations are meant to guide us.” When it comes to deciding which recommendation to proceed with (if any) it's important to consider whether or not they are aligned with the overarching goal. 

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Blockers in UX work 🚧

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As UXR becomes more democratized in many businesses and the number of stakeholders increases, the ability to gain cross-functional buy-in for the role and outcomes of UXR is a key way to help keep research a priority. 

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In his past experience, Kwame has realized that the role of a user experience researcher is just as important as that of a product manager, data scientist, engineer, or designer. However, one of the biggest blockers for him as a product manager is how the role of a UX researcher is often overlooked. “Just because I’m the product manager doesn’t mean that I’m owning every aspect of the product. I don’t have a magic wand right? We all work as a team.” Furthermore, Kwame notes that a user researcher is an incredibly hard role and a very important one, and I think we need to invest more in the UX space.

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Auset also shared her perspective on the topic, “I wouldn’t say this is a blocker, but I do think this is a challenging piece of working in a team - there are so many stakeholders.” Although it would be ideal for each of the different departments to work seamlessly together at all times, that’s not always the case. Auset spoke about a time where the data scientists and user researchers were in disagreement. Her role as a Growth Content Designer is to create content that enhances the user experience. “But if I’m seeing two different experiences, how do I move forward? That’s when I have to ask everyone - come on let’s dig deeper. Are we looking at the right things?” If team members are seeing different results, or having different opinions, then maybe they are not asking the right questions and it's time to dig deeper. 

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How to collaborate with cross-functional UX stakeholders 🫱🏽🫲🏻

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The number and type of roles that now engage with research are increasing. As they do, the ability to collaborate and manage stakeholders in research projects has become essential. 

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Kwame discussed how he sets up a meeting for the team to discuss their goals for the next 6 months. Then, he meets with the team on a weekly basis to ensure alignment. The main point of the meeting is to ensure everyone is leaving with their questions answered and blockers addressed. It's important to ensure everyone is moving in the right direction. 

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Auset added that she thinks documentation is key to ensuring alignment. “One thing that has been helpful for me is having the documentation in the form of a product brief or content brief.” The brief can include the overarching goal, strategy, and indicate what each member of the team is working on. Team members can always look back at this document to ensure they are on the right track. 

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Career advice: documenting the value you bring 💼

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One of the participants asked the panel, “how do you secure the stability of your UX career?” 

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Eniola took this opportunity to share some invaluable advice as a career coach, “I think the biggest thing that comes to mind is value proposition. It's important to be very clear about the value and impact you bring to the team. It used to be enough to just be really, really good at research and just do research and provide recommendations. Now that’s not enough. Now you have to take your teams through the process, integrate your recommendations into the product, and focus on driving impact.” 

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Companies aren’t looking to hire someone who can perform a laundry list of tasks, they’re looking for UX professionals who can drive results. Think about the metrics you can track, to help showcase the impact of your work. For example, if you’re a UX designer - how much less time did the user spend on the task with your new design? Did the abandonment or error rate decrease significantly as a result of your work? How much did the overall customer satisfaction score rise, after you implemented your project? Before starting your project, decide on several metrics to track (make sure they align with your organization’s goals), and reflect on these after each project. 

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Fatimah Richmond offered another piece of golden career advice. She encourages UX researchers to create an ongoing impact tracker. She’ll create a document where she lists the company's objectives, the projects she worked on, and the specific impact she made on the companies objectives. It's much easier to keep track of the wins as they happen, and jot a few notes about the impact you’ve made with each project, then scrambling to think of all the impact you’ve made when writing your resume. It's also important to note the impact your work has made on the different departments - product, marketing, sales, etc.

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She also advises UX researchers to frequently share their science insights with their colleagues as the project progresses. Instead of waiting until the very end of the project and providing a “perfectly polished” deck, be transparent with the team about what you are working on and the impact it's having throughout the duration of the project.

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Another participant asked - what if you need help determining the value you bring? Auset recommends asking for actionable feedback from coworkers. These people work with you every single day, so they know your contributions you are making to the team. 

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Documenting the tangible impact you make as a UX professional is crucial - not only will it help create greater stability for your career, but it will also help organizations recognize the importance of a UX research. As Kwame discussed in the “blockers” section, one of the biggest challenges he faces as a product manager is the perception of the UX role as less important than the more traditional product manager, Engineer, and Designer roles. 

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About Eniola Abioye

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Eniola helps UX researchers improve their research practice. Whether you’re seasoned and looking to level up or a new researcher looking to get your bearings in UX, Eniola can help you focus and apply your skillset. She is a UX Researcher and Founder of UX Outloud. As a career coach, she guides her clients through short and long term SMART goals and then works with them to build a strategic plan of attack. She is innately curious, a self-starter, adaptable, and communicative with a knack for storytelling.

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Learn more about UX Outloud.

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Connect with Eniola on Linkedin.

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About the panelists 🧑🏽🤝🧑🏽

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The panel was comprised of talented professionals from a variety of fields including UX research, content strategy, product management & engineering, and career coaching. Their diverse perspectives led to an insightful and informative panel session. Keep reading to get to know each of the amazing panelists: 

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Growth Content Designer: Auset Parris is a growth content designer at Meta. She has spent 7 years navigating the ever-evolving landscape of content strategy. She is passionate about the role of user research in shaping content strategies. Furthermore, Auset believes that understanding user behavior and preferences is fundamental to creating content that not only meets but exceeds user expectations. 

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Senior UX Researcher: Jasmine Williams, Ph.D. is a senior researcher with over a decade of experience conducting youth-focused research. She has deep expertise in qualitative methods, child and adolescent development, and social and emotional well-being. Jasmine is currently a user experience researcher at Meta and her work focuses on teen safety and wellbeing. 

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Product Manager: Kwame Odame has over 7 years of high-tech experience working in product management and software engineering. At Meta, Kwame is currently responsible for building the product management direction for Fan Engagement on Facebook. Kwame has also helped build Mastercard’s SaaS authentication platform, enabling cardholders to quickly confirm their identity when a suspicious transaction occurred, leveraging biometric technology. 

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UX Researcher (UXR): Fatimah Richmond is a well-rounded UX researcher with over 15 years of experience, having influenced enterprise products across leading tech giants like Google, SAP, Linkedin, and Microsoft. Fatimah has led strategy for research, programs and operations that have significantly impacted the UXR landscape, from clinician engagement strategist to reshaping Linkedin Recruiter and Jobs. As a forward thinker, she’s here to challenge our assumptions and the status quo on how research gets planned, communicated, and measured.

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Career Coach: An Xia spent the first decade of her professional life in consulting and Big Tech data science (Netflix, Meta). As a career coach, An has supported clients in gaining clarity on their career goals, navigating challenges of career growth, and making successful transitions. As a somatic coach, An has helped clients tap into the wisdom of their soma to reconnect with what truly matters to them. 

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UX Strategist: Natalie Gauvin is an experienced professional with a demonstrated history of purpose-driven work in agile software development industries and higher education. Skilled in various research methodologies. Doctor of Philosophy (Ph.D.) Candidate in Learning Design and Technology from the University of Hawaii at Manoa, focused on empathy in user experience through personas

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Level up your UXR capabilities (for free!) with the Optimal Academy 📚

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Here at Optimal we really care about helping UX researchers level up their career. This is why we’ve developed the Optimal Academy, to help you master your Optimal Workshop skills and learn more about user research and information architecture.

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Check out some of our free courses here: https://academy.optimalworkshop.com/

Return on investment (ROI) is often the term on everyone’s lips when starting a big project or even when reviewing a website. It’s especially popular with those that hold the purse strings.  As UX researchers it is important to consider the ROI of the work we do and understand how to measure this. 

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We’ve lined up 5 key ways to measure ROI for UX research to help you get the conversation underway with stakeholders so you can show real and tangible benefits to your organization. 

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1. Meet and exceed user expectations

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Put simply, a product that meets and exceeds user expectations leads to increased revenue. When potential buyers are able to find and purchase what they’re looking for, easily, they’ll complete their purchase, and are far more likely to come back. The simple fact that users can finish their task will increase sales and improve overall customer satisfaction which has an influence on their loyalty. Repeat business means repeat sales. Means increased revenue.

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Creating, developing and maintaining a usable website is more important than you might think. And this is measurable! Tracking and analyzing website performance prior to the UX research and after can be insightful and directly influenced by changes made based on UX research.

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Measurable: review the website (product) performance prior to UX research and after changes have been made. The increase in clicks, completed tasks and/or baskets will tell the story.

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2. Reduce development time

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UX research done at the initial stages of a project can lead to a reduction in development time of by 33% to 50%! And reduced time developing, means reduced costs (people and overheads) and a speedier to market date. What’s not to love? 

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Measurable: This one is a little more tricky as you have saved time (and cost) up front. Aiding in speed to market and performance prior to execution. Internal stakeholder research may be of value post the live date to understand how the project went.

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3. Ongoing development costs

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And the double hitter? Creating a product that has the user in mind up front, reduces the need to rehash or revisit as quickly. Reducing ongoing costs. Early UX research can help with the detection of errors early on in the development process. Fixing errors after development costs a company up to 100 times more than dealing with the same error before development.

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Measureable: Again, as UX research has saved time and money up front this one can be difficult to track. Though depending on your organization and previous projects you could conduct internal research to understand how the project compares and the time and cost savings.

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4. Meeting user requirements

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Did you know that 70% of projects fail due to the lack of user acceptance? This is often because project managers fail to understand the user requirements properly. Thanks to UX research early on, gaining insights into users and only spending time developing the functions users actually want, saving time and reducing development costs. Make sure you get confirmation on those requirements by iterative testing. As always, fail early, fail often. Robust testing up front means that in the end, you’ll have a product that will meet the needs of the user.

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Measurable: Where is the product currently? How does it perform? Set a benchmark up front and review post UX research. The deliverables should make the ROI obvious.

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5. Investing in UX research leads to an essential competitive advantage.

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Thanks to UX research you can find out exactly what your customers want, need and expect from you. This gives you a competitive advantage over other companies in your market. But you should be aware that more and more companies are investing in UX while customers are ever more demanding, their expectations continue to grow and they don’t tolerate bad experiences. And going elsewhere is an easy decision to make.

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Measurable: Murky this one, but no less important. Knowing, understanding and responding to competitors can help keep you in the lead, and developing products that meet and exceed those user expectations.

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Wrap up

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Showing the ROI on the work we do is an essential part of getting key stakeholders on board with our research. It can be challenging to talk the same language, ultimately we all want the same outcome…a product that works well for our users, and delivers additional revenue.

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For some continued reading (or watching in this case), Anna Bek, Product and Delivery Manager at Xplor explored the same concept of "How to measure experience" during her UX New Zealand 2020 – watch it here as she shares a perspective on UX ROI.