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Summary:

A data science consultancy has published a report analyzing the design of retirement- and investment-industry websites, but the lessons are universal: Better design means better business.

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A data science consultancy called Change Sciences Group has released a report detailing how poor website design can harm business. The report focuses on retirement- and investment-industry websites such as T. Rowe Price, TD Ameritrade a,d E*Trade, but the lessons can easily be applied elsewhere as well.

This isn’t 2001: Consumers expect simple websites. Yes, the reasons people visit websites certainly affects whether or not they actually purchase a product, and brokerages probably have different clientele than consumer websites and even consumer banks. But it stands to reason that better web design translates to better business whatever the case. (In fact, our entire RoadMap conference in November is dedicated to the importance of design across all types of products.)

retirement1retirement2Here are screenshots of the T. Rowe Price and Amazon websites, just for the sake of comparison. At a quick glance, it’s pretty easy to see that Amazon makes it clear it sells things and you can buy them. I’m not even sure where I’d get started if I were new to T. Rowe Price. Obviously, the Change Sciences Group uses a more-quantitative methodology.

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  1. You are kidding me. We needed to “Research” this? You Pointy-Hairs amaze me.

    - Dilbert

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  2. There are lot of things that should be kept in mind before planning to design a website.

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  3. People need to see a website easy to access. When you open a site and you search for a button, a page or something, you may loose your patience and close the site. So, my opinion is that a website must be simple but with a beautiful design and color.

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  4. Simple, simple, simple. Three words that engage customers. Steve Jobs had this mantra ingrained in every product Apple developed.

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  5. An engaging e-commerce helps increase in conversion rates and market share. But usability outranks all the other elements of a web design. If a user cannot find the product, how is he going to buy this?

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  6. Yeah, A design that attracts consumer at the first look because first impression is the last impression.

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  7. It sure does, especially on the Internet where 6” is all the attention you (usually) get.

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  8. Where do you get Amazon’s conversion rate being at 90%? I’ve never seen a conversion rate quoted for Amazon above 11%.

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  9. This was a great article on web design that really was really helpful to me and I really can’t wait to learn more from your valuable experience. This was really very interesting to me.

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  10. Wow, interesting information. I definitely agree that web design matters in some aspect such as it helps to develop or to have you own business branding. You data is amaze me.

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