If design is not at the center of your business, you are possibly missing out on opportunities to flourish in the digital age. Businesses are so much focused on their marketing outcomes that they overlook design in the haste of getting better ROI. Design should be a core piece of your business strategy as it gives a competitive edge irrespective of the domain.
Definition of Design, Today
Traditionally, design was about beauty and aesthetics, but for the past few decades, design practices have taken an upward curve interns of adoption. The definition of design has evolved. Today, it is not only about making products look beautiful, but also about providing experience of interacting with the products.
Businesses are continuously struggling to find ways to survive in the cut-throat competition and to have an edge over their competitors. Whether it is a website, application or any product, design creates a delightful and smooth experience for the user.
Such differentiating user experience is important for businesses since it helps in customer delight by offering enhanced usability and delightful interaction with the product. It helps in attracting and retaining customers and selling a large number of products thereby giving competitive and profitable advantage.
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Design principles are so fascinating that they are being used as guiding points for transforming businesses. As a result, a new term has evolved as - business design. It is about applying design thinking to the businesses to gain the benefits of UX. Though design approach is proving to be quite significant in business growth, not all companies are embracing it readily.
To define exactly why design is a good business decision, we have a list of proven reasons. If you agree, leave your thoughts in the Comments Section !
1. Business statistics
Out of $1 trillion spent last year, $150 billion is lost alone because of poor usability or user experience of products and services. $300 billion is the cost of poor customer service in 16 key economies.
The chances of customers recommending your product, paying more for your product or not switching to your competitors’ products increases dramatically if you focus on customer experience and user experience. DMI’s Design Value Index (DVI) has surpassed any other index by whopping 219%.
A study by the UK Council and US Council has revealed that every dollar invested in design returns upto $100.
These are real statistics by real people and real organizations about ROI of UX, that tell you the importance of embracing design thinking and a customer-centred approach.
2. Enhances User Experience
In today’s world, user experience is a differentiating factor for businesses. A well-crafted experience engages users, which results in more customer retention.
86% of the customers pay more for a better user experience - a CEI survey
Designing user experience with the end-users at the core of business strategies, can make a huge impact to the top-line of a business.
3. Attracts new customers and retains existing ones
A good design does not mean the aesthetics or appearance of the product, it is also about solving the problems and enhancing the entire experience. Design helps businesses expand into new markets by designing the product according to the preferences of the potential target audiences. Along with acquiring new customers, design keeps your existing customers interested and help you content with your competitors.
Users value design that values them.
4. Strong Customer Trust
Generally, digital products fail because modern users are not ready to labor through unpleasant user experiences. Users know that there are several other competitors willing to offer hassle-free, better experiences. Businesses providing high-level user experience are more likely to have customers recommending their brand to others. So, a design that creates a pleasant and seamless user experience gives you the power to have an edge over your competitors.
5. Adds Value to Products
Effective design gives your users a reason to buy from you rather than from your competitors. It is an important source of differentiation since a well-designed product stands out from the competition. Design adds value to products because users are ready to pay more for well-designed products that can offer higher usability, improved functionality and aesthetics.
6. Improves market position
Design process generates new product ideas, which then can be turned into innovative and competitive products suitable for the users. It also helps in making business processes more effective and in strengthening marketing approach. Design creates a strong identity for your business and improves your market position relative to your competitors.
When design discovers a stronger voice in the business, one can attain the required level of innovation to go ahead of the competitors. Design creates a great user journey and leads them along the conversion path.
So, if you are thinking about establishing design in your business, make sure you select a design agency that knows the value of design and it is familiar with ROI of design. To know more about how to go about hiring an Ideal UX design company, read our blog here.