Each year, thousands of new products reach the market. It is a risky proposition and the vast majority of them fail. Professor Clayton Christensen of the Harvard Business school discovered that the failure rate is 95%. That is a scary big number and what it means is that you need every possible advantage you can find before you launch a new product. Perhaps the most important thing you can do is to find the needs of your target customers. Going into anything blind doesn’t make sense. This is where UX research is a valuable tool.
Defining UX Research
The first thing to learn before you can use UX research methods is what they are. The “UX” stands for user experience. This is the process of conducting research with the group you are going to market to. Data is gathered on the needs and preferences of those potential users and customers. The findings can then be applied during the development phase. The Interaction Design Foundation has stated that conducting this research could reduce the development cycle by 33-50%. Saving time saves money.
Benefits of UX Research
There are several key benefits to conducting UX research during the concept phase of your new product. They are:
- Better estimation of ROI. Investors want solid estimates on the potential return of any venture. By conducting user research, you accumulate data on projected sales and even the income of potential customers. Much more accurate estimates can then be made for ROI.
- Utilizing this research while designing your product can allow to you incorporate the features that your target consumers are looking for and will enjoy in your product. This can help to build a loyal clientele that will keep coming back. Without the research, it’s guesswork with a big risk factor.
- You want to design products that are easy to use. Research has shown that 32% of customers will abandon a brand they love after just a single bad experience. You don’t want to run the risk of a design flaw that could lose your faithful customers. Conduct UX research ahead of time and give your clients exactly what they need.
Two Kinds of Research
There are two kinds of UX research you can use. One is quantitative in which you collect numerical data. This can be displayed on charts and graphs and allow you to easily see trends and predict future sales. It’s a good method to test your theories and confirm any assumptions you may have about the appeal of the product to your customer base.
The other kind of research is qualitative. This type of research uses data that cannot be expressed numerically. The emotional impact of a product is one example. Also the opinions and behaviours of your target customers. This research can provide helpful insights into how customers feel about a product and what could be done to make it better.
Business involves risk. There’s no getting around that. But by conducting UX research during the concept phase of new product development, you can minimize that risk and launch a product your customers are likely to enjoy.
