How investing in design will make you money - the proof! 🔦
Working in a fashion brand will teach you that everything has a monetary value, from time to materials and even the colour of your 'add to cart' button on your website's product page. Endless hours are used to test ways of using design to increase revenue (otherwise known as UXUI).
At a networking event recently, I found myself talking about the value of design with another creative director. It is notoriously challenging to identify the true return on investment of design practice because there are so many other variables involved in marketing/eCommerce etc. For instance, the time an email goes out to a database might affect how many people open said email and the design has little chance to support conversion. The same email might also have a product that the business is struggling to sell, or it's flying out the door! However, we can measure the impact of design with 'un-designed' and The Design Council has collated their findings into this here:
Top 5 Takeaways
(for those of you who haven’t got time to read the report - I see you!)
Every £100 a design alert business spends on design increases turnover by £225.
Businesses that see design as integral don’t need to compete on price as much as others.
Almost half of all UK businesses believe that, over the past decade, design has become more important in helping them maintain a competitive edge.
On average, design alert businesses increase their market share by 6.3% through using design.
Turnover growth is more likely for businesses that increase their investment in design. Conversely, those that decreased investment cut their chances of growth.
The bottom line? Investing in design will make you money.
The purpose of branding goes way beyond making your business look pretty. When done correctly, branding will attract your audience through emotional connotations, increase desirability for your brand, help you to reach your goals and so much more.
Interested to hear more about branding? We offer a range of packages to suit every stage of your business. Get in touch here for more.
