Many companies today still have questions about the value and relevance of using design. Others, on the other hand, invest continuously in design to support and improve their businesses. Why are the approaches so dissimilar? For us, this is due to our ignorance of the real contribution of design to businesses, whatever their size: Startups, SMEs, and large groups Studies to quantify the contribution of design This large difference between people convinced of the value of design and those who are skeptics about it has motivated several countries to conduct studies to quantify the exact impact of design on business.
We found two specific studies particularly noteworthy: “The Value of Design Factfinder,” a comprehensive study conducted by the British Design Council in 2006 and subsequently updated in 2007, 2008, 2009, and 2010 (link available), and “The economy of design,” a thorough French study conducted in 2010 on behalf of the Directorate General of Competitiveness of Industry and Services (DGCIS) (link available). According to a study conducted in September 2011 by OpticsValley, titled “A Study on the Keys of Design for SMEs in the Field of Optical Instrumentation,” nearly three-quarters of companies witnessed an increase in their turnover after employing design thinking. Design is concerned with aesthetics, ergonomics, market analysis, sales, technical feasibility, and cost management. Designers focus on the pulse of the market and the desires of the company’s customers, consumers, and users because that is their responsibility. The outcome of their work should lead to increased sales and revenue for companies. According to the Danish Design Council, “Companies that use design experience a 22% growth in their turnover over five years, compared to those that do not use it.” Design and marketing collaborate to evaluate the market and answer different questions that complement each other.
Marketing quantifies the market and answers the questions ” who” and “how.” Design, on the other hand, helps the company define the “who” and “what” more effectively by gaining a better understanding of the company’s target consumers and customers.
The design presents businesses with worthwhile opportunities. Although it is frequently overlooked, good design can have a big impact on your bottom line. You can come up with new product ideas during the research and prototype phases of the design process, and you can learn more about the wants and needs of your target market.
The advantages of design for business
According to evidence, the use of design enhances business performance. Businesses that downplay the value of design could be losing out on significant opportunities. Using design methodically throughout your company can have a variety of positive effects on your bottom line. These advantages consist of:
- more growth in your product or service sales;
- increased customer loyalty;
- a better market position compared to your rivals;
- fewer complaints from customers; a stronger brand identity for your company;
- the ability to develop new goods and services and the ability to enter new markets;
- reduced time it takes to launch a new product or service.
How can design add value to a business?
Design plays a significant role in improving the functionality, usability, and aesthetic appeal of products and services, thereby enhancing customer satisfaction and loyalty. In this post, we will explore how design can add value to a business.
Firstly, well-designed products can differentiate a business from its competitors, leading to increased market share and profitability. The design has the power to create unique and distinctive products that stand out in the market, attracting more customers and increasing sales. For example, Apple’s iconic iPhone design has helped the company establish a strong brand identity and become one of the most valuable companies globally.
Secondly, design can help businesses to reduce costs by optimizing production processes and materials selection. By using sustainable and efficient design practices, businesses can reduce waste, improve resource utilization, and lower production costs, resulting in increased profitability.
Thirdly, design can improve the overall image and reputation of a business. An aesthetically pleasing design can enhance the perception of a business, making it more appealing to customers and stakeholders. A strong brand identity, established through design, can increase customer loyalty, trust, and recognition.
Fourthly, design can drive innovation and create new business opportunities. Design thinking, a human-centered problem-solving approach, can help businesses identify and solve customer needs and pain points. By using design thinking principles, businesses can develop new products and services, leading to new revenue streams and market growth.
Finally, design can help businesses to create a positive impact on society and the environment. Sustainable design practices can reduce the carbon footprint of a business, leading to improved environmental outcomes. By using design to address social and environmental issues, businesses can demonstrate their commitment to corporate social responsibility and sustainable business practices.
By using design to create unique and innovative products, optimize production processes, enhance brand identity, drive innovation, and contribute to social and environmental sustainability, businesses can achieve long-term success and profitability.
