When investing in the services of a design firm, you may question how that can truly affect your bottom line. A tool often underutilized by business managers, the value of strategically using design is starting to become increasingly evident – and measurable.
“Design is a highly influential force that, when effectively integrated with strategy, marketing, and so forth, can help the company stay out in front of its competitors by staying close to customers and commanding handsome price premiums.” Jeneanne Rae, Harvard Business Review
HOW INVESTING IN DESIGN DRIVES PROFITABLE RETURNS
Here are just a few universal ways it’s showing up:
A study conducted by Motiv Strategies & The Design Management Institute tracking the returns of companies considered to place big value in design over those who did not yielded some eye-opening stats. They hand picked 15 design-centric companies — Nike, Apple, Starbucks, Disney, Intuit, and Coca Cola among them — and found that their design investment showed returns in faster growth and higher margins than their competitors who weren’t as design oriented. That makes them very attractive to investors, and creates happy shareholders, which then pushes their stock prices higher. It’s well worth reading the details of the study on the Harvard Business Review.
“Legal woes cost small businesses more than $100 billion a year.” Anita Campbell at American Express
According to FTI Consulting, a Baltimore advisory firm that tracks intellectual-property statistics, about 3,500 trademark cases are filed in the US district courts EVERY YEAR.
Dangerous mistakes can be made without a professional. One of the ways you can minimize your risk is by hiring a designer. They are very careful about copyrights, as their livelihood and credibility depends on it. They do their research and you benefit from that protection.
Then there is the emotional quotient, that invaluable connection, the “it” factor that goes beyond facts and figures. This is the intangible, what captures people’s imaginations, gets under their skins and creates desire — and need. A great designer does their best work in this area, striving to understand how a person may feel/interact with the brand, drawing upon that as they create — and you reap those riches.
Authenticity is the value that helps consumers believe in your brand promise.” Daniel Lubetsky, CEO of KIND
Who has not gone searching websites for a product or service only to shut it down and click the next website based on a quick glance that communicated to your gut: Whoops — Not professional. Not big enough. Not impressive. And what was your reaction based on to make the judgment call to move on rather than linger in a matter of seconds? The visuals, the layout, the big print copy. In a word — DESIGN!
Today’s heavy digital traffic makes it easy to get missed by your market.
This is where the word strategic factors in most. Don’t be invisible — or capture the wrong audience — due to improper design elements!
Designers help clients assess what information is important to consumers as well as the most effective way to present it. In harnessing the power of color psychology, composition, typography, a designer will develop solutions for standing out and strategic application to deliver your message effectively — with all important brand continuity.
Is your company investing in strategic design? How has this helped your brand? We’d love to learn!