A research carried out by Design Council* shows that when businesses invest in design the design can indeed add value to the business through:
- Driving innovation within business and opening up new market spaces
- Differentiating products and services to attract new customers
- Strengthening company branding and improving recognition.
Business Leaders quoted main benefits as growth in sales, increases in market share, cost reductions and enhanced efficiency in production.
In several companies, especially the service-based ones, introducing design procedures corresponded with benefits like: increased consistency in the company’s portfolio, faster time to market, and more successful product launches.
Non-financial benefits included higher brand recognition, greater customer satisfaction and advocacy, better consistency in product/service and decreased project failure rate.
Importantly, association was made: the more business used design as strategic means, the greater the benefit.
Concluding, design not only can improve the wealth of the business but also the way it operates by improving the environment and people’s behaviours. The answer is simple use design to improve your business and help it grow. If you would like to know how great design can help you grow your business get in touch with us – Format Design London.
*conducted by Warwick Business School on behalf of Design Council
Design Council research has shown that, on average, for every £1 businesses invest in design, they gain over £4 net operating profit.