In the world of business, design isn't just about looking good, and its impact to a business extends far beyond mere aesthetics. A comprehensive study by McKinsey* backs up what we've understood from 12 years of building brands and websites:quality design goes hand-in-hand with revenue.
Can design not only make a company stand out but also boost real business metrics like revenue and shareholder income? McKinsey’s experts dug deep into this and found that top-notch design leads to superior financial performance.
Over five years, McKinsey examined the design practices of 300 public companies from various countries. They interviewed and surveyed top managers, including those responsible for design, collecting over 2 million financial data points and more than 100,000 design-related activities. Their regression analysis pinpointed 12 actions most closely linked to better financial outcomes, grouped into four pillars. These pillars form the MDI—Design Index, which measures a company's design strength and its impact on business performance. Companies with the best financial indicators recognize that design decisions need to be made at the highest level, not by mid-level managers.
From our own experience, considering that humans perceive 80 to 90% of information visually, the impact of design on business is undeniable. Design hits its stride when it integrates three key aspects: the visual, contextual, and conversion layers. This means making the product look good, defining its category and components precisely, and effectively communicating its benefits to the consumer. Nail these, and you’re looking at commercial success.
At Olya Black Studio, we believe design goes beyond just looking pretty. Our clients seek us out not just for eye-catching visuals but for a marketing tool that boosts their product promotion. This is our jam, and it's how we harness the true power of design. Design has become a crucial tool for visual dialogue between brands and their audiences. We teach our clients to look beyond personal taste and see design as the result of thorough market analysis, audience audits, trends, and the competitive landscape, all contributing to measurable business success.
To truly measure the impact of design on business, you need to look beyond the design itself. Design is the result of a comprehensive system that integrates business processes, user experience, and a deep understanding of consumer needs. That's why our process always starts with in-depth, multi-layered research. We aim to pinpoint the emotional needs of our client's target audience, develop a brand strategy, and then build a website on this solid foundation.
Many of our clients see design as a cost-effective way to boost profitability. Compared to the hefty investments required for manufacturing upgrades, new production facilities, or expanding distribution networks, investing in design innovation is a no-brainer. It’s a savvy move to view design spending this way. While not all clients might get it, this perspective could benefit them immensely.
So, if you’re still on the fence about investing in your branding, let’s clear things up. It's not just about trying something new; it's about adopting a mindset that can transform your business. Here are some thoughts to embrace that any business can adopt.
Measure Design Like You Measure Finances
Treat design with the same seriousness as your financials. It's not just an expense, it's an investment that cultivates your brand's growth and gleams in your profit margins.
Empower Your Designers
Hire the best design team your budget allows. Invest in excellence and trust them to innovate and enhance the user experience. This strategic choice can be the game-changer for your product's success.
Learn Fast, Adapt Faster
Design is a continuous journey, not a one-time thing. Keep working with your design team beyond the initial launch of branding and website. This ongoing partnership ensures your design evolves with your brand. Embrace change as an opportunity for improvement, keeping your offerings fresh and aligned with user needs. That's why Wix is awesome - easy to use - changes can be done quickly without a fuss. This way, your brand always looks great and reflects where your business is headed.
With this mindset, businesses can wield design as a strategic growth tool, ensuring ongoing improvements in customer satisfaction and profitability.
*McKinsey & Company (informally McKinsey or McK) is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations.
