Design is the key to long-term customer loyalty
The earlier design can be brought into any process, the more likely a business is to create products, services or experiences that truly resonate and eventually create emotional bonds which will build long-term engagement and loyalty.
Recent research tracking 300 listed companies in three different industries, found that those with the best design practices witnessed 32pc higher revenues and 56pc higher shareholder returns over a five-year period compared with industry peers.
Sarah Weir, chief executive of the Design Council, is in agreement. The council’s own research across all sectors shows that “if you spend money on design, you will get a return on your investment,” she says.
There is still a misconception that design is just about physical products, “a nice sofa or something”, when actually it’s also about orchestrating customer interactions and experiences, and transforming company systems.
“The best design is invisible and conceptualizes something which doesn’t exist,” says Ms Weir, citing successful start-up firms such as Airbnb, Netflix and digital, mobile-only bank Monzo as good examples of companies that have put design at the heart of their business.
To read the full article, visit the Telegraph.