Why Good Design Is Good For Your Business
Share prices of design-led companies out-performed key FTSE indices by over 200% over 10 years. – Design Council UK
Good design is not reserved exclusively for multi-national organisations with deep pockets; good design is available to all businesses. It’s up to business owners and stakeholders to champion the value of design and creativity. Design isn’t just an expense, after-thought or a nice-to-have, but a formidable ally in business growth and revenue.
Here are 3 ways that design plays a part in supporting business growth:
How your brand is designed determines how it will be perceived.
A great product wrapped in sub-par packaging is hardly convincing of its greatness – if it’s even noticed at all. Much as we’d like to deny it, people judge a book by its cover before even getting to its content.
Using design to craft positive perceptions improves market positioning, pricing strategies and consumer trust and loyalty. These lead to attracting what you want for your business, such as ideal clients, enhanced sales and revenue.
Take Apple and Microsoft, for instance. Compare your immediate overall perceptions of each of these technology giants.
A unique design style, methodology or application,beyond the corporate identity, could potentially become your brand’s iconic signature. One that is recognisable from a mile away and is a priceless IP asset. The design becomes a permanent advertisement in itself. For example, in the automotive world:
Every £100 a design-led business invests in design repays £225 in increased sales. – Design Council UK
Many businesses engage in pricing wars to win customers; competing based on price is a sure race to the bottom, with no winners.
Design-led businesses don’t have to rely solely on prices to be competitive. They have a more powerful ‘weapon’ that meets consumers’ needs and desires, and creates value and demand in the process.