Ever wonder the role of user experience in relation to business results? Read what the failed founder of Wasabi — the key competitor and the first mover relative to Mint.com — said about why Mint killed Wasabi:
I particularly like what the founder of Wasabi said:
“Focus on what really matters: making users happy with your product as quickly as you can, and helping them as much as you can after that. If you do those better than anyone else out there you’ll win.”
He talked about how Mint.com succeeded in giving users what they wanted whereas Wasabi failed to do so.
He also argued that good UI design alone was not enough to provide a great experience.
The key UX aspects we should pay attention, drawn from his article, are 1) instant gratification (I call that Adoptability in my VADU UX model), and 2) continue to provide value through useful features and good usability.
The lesson for executives: focus on both quick and long user experience and you’ll gain competitive advantage. And sacrifice user experience for short-term business gains at your own risk.
The lesson for UXers: try your best to align your UX strategy and design with the business model rather than improve UI for its own sake.
By Frank Guo