How design boosts a business’s bottom line
There is no doubt that good design delights and inspires but not only does it simply play an aesthetic role, when it comes to brands, design also plays a critical role in establishing a clear brand identity which is pivotal for a brand, and business, to succeed.
In fact, according to a study done by Mckinsey, design-focused firms significantly outperformed their peers, delivering a staggering 32% higher revenue growth.
This article will use the results from the above-mentioned study to outline how businesses can use good design to boost their bottom line.
1. Track design as a metric
Successful companies set design goals and track their design’s impact as a metric the same way they would track ROI. The results should then be incorporated back into the design.
2. Incorporate design into every touch point
A consumer’s experience with a brand usually transgresses across numerous touchpoints where every interaction serves as an opportunity to create a memorable brand experience. As a result, design should not be limited to a single product or service but should rather be incorporated into each and every touchpoint. Companies can do so by researching their target audience’s wants and needs as well as their experience with your brands, and build the results into all the design elements.
3. Prioritise design across departments
Top-performing companies acknowledge that good design comes as a result of a team effort and they consequently spread the responsibility across their departments. The incorporation of each department’s strategic insights leads to a more accurate design brief which ultimately results in a design that can deliver a better customer experience.
4. Make your designs consumer-focused
The best designs are those that meet or exceed consumer’s expectations. But following a famous quote by Steve Jobs, “People don’t know what they want until you show them”.
Companies can start to anticipate their consumer’s expectations by researching their core needs and preferences and understanding how their products can address certain ‘pain points’ or frustrations. Once a product has been designed, an early-stage prototype should be tested amongst consumers and any further iterations should be fed back into the design. It is also important to note that since consumer’s needs continue to evolve, design should be an on-going process. To assist with this, companies should provide channels for customer feedback.
Ultimately, an investment in good design is an investment in one’s bottom line. To succeed through design, companies should prioritise and track design as a metric, apply it across the consumer journey, make it a shared responsibility across departments and make designs consumer-focused.
At The Brand Foundry, we strive to amplify your brand image with original and clever design. If your business requires some assistance, please get in touch with us for a free consultation.