Why invest in design?
Why invest in design? I have heard this so many times, ”we do not need designers, we need developers/business analysts/testers”, ”how can design bring value to the bottom line?” or ”design is so fussy/vague/muzzy/add your word here”.
Here are some of the good arguments I use when I talk to the management and leaders.
- Design makes you deliver 2X faster time-to-market (1)
- Design reduces your development time with 33% (1)
- Design-driven companies outperform S&P by 211% over 10 years (2)
- Design invested companies outperform competitors by two to one in growth. (6)
- Design invested companies bring 6% higher return to shareholders. (6)
- The ROI for investing in design is 301% (1)
- IBM, as an example, increased their portfolio profitability with $18.6 million by design-driven work (1)
- McKinsey know that brands that can improve the customer journey see revenues increase as much as 10 to 15% while also lowering the cost to serve 15 to 20% (7)
- Improving the customer journeys from average to “wow” is worth 30 to 50% more in those same industries (7)
- Customer service scores doubled, revenues from upselling climbed 5%, and the cost of serving customers dropped 10% (7)
- The company was able to cut the steps to just five and thereby reduced costs by 40 to 50 % (7)
- The number of complaints also dropped, and with it the number of people handling them, from 109 to 20 (7)
- Design brings value to the bottom line by increased customer satisfaction and loyalty and reduce cost (4)
- Design reduces risk by validating ideas earlier (4)
- Design makes you develop fewer things and focus on the right ones (5)
- Startups that fail mainly does it because of lack of empathy and understanding of the customer needs (5)
- happy and engaged colleagues (1)
- A more unique value proposition and brand
So, do you have any other good arguments and resources that I can add to the list?
(3) https://www.cooper.com/journal/2017/6/what-is-the-roi-of-design (does not work)