With every passing year, it seems as though design becomes a more important aspect of businesses. Big names such as O2, Dyson and Jaguar have described it as an essential component of their companies and it’s not hard to see why. Design is something that’s always played a key role in a number of different business areas and, in many ways, the digital age has just extrapolated its importance. From helping businesses to forge their identities to driving innovation and new ideas, it’s difficult to oversell the importance of good design.
Sometimes it can be easy to overlook how a big a role your logo plays in your business’s identity. As we’ve stated in the past, it’s normally the first part of your business that people are exposed to, making it a great way to ensure you make a killer first impression. Even if your current logo isn’t awful, grabbing a new one can still be incredibly helpful; if you’ve stuck with the same look for years and years on end, it can be an excellent way to shake off the cobwebs and keep things fresh.
And with it having such a heavy influence on so many different aspects of businesses these days, it’s hard not to see it as having an impact on your profit. We believe it can have a significant influence on how well your business does financially – potentially being the tipping factor on whether you break through or not. Something as simple as a new logo has the ability to shake things up significantly when it comes to your startup’s profits.
Read on to discover some of the ways that design can have an impact on your profit and why it should be considered one of the key pillars of your business.
Cold Hard Numbers
Let’s start off with some figures, because if they don’t convince you that good design has an impact on your profit, then nothing will!
The Creative Industries website is a fantastic resource when it comes to the importance of design in commercially focused businesses, hosting some pretty staggering statistics. First off, the UK design industry grew an impressive 25% between 2005 and 2010, despite the recession, demonstrating just how much it’s been thriving in the past couple of decades. Or how about the fact that businesses on average find a £4 return for every £1 they invest in design? Not too shabby, right?
As these numbers demonstrate, design is only going to become more important to businesses as time moves on. And the fact that the design industry is still growing steadily despite to tumultuous times we live in shows that good design is very much in demand. Because of this, it’s hard not to see investing in design as a no-brainer for your startup, as good things are sure to come from it.
Forging An Identity
Something we’ve touched on a bit in previous blog posts – such as this one and this one – one of the major ways design plays into profit is through how it can help build an identity for your business. A new piece of design work, such as flashy logo, can be a great way to get across what your startup is all about, allowing you to more easily attract the right customers and stand out from the competition. Good design helps you make sure your business has a unique voice in an age where you’re competing with more companies than ever before… Bad design will doom your startup to simply blend in with the crowd.
More customers leads to more profit, making it pretty clear how a bold identity for your business can prove helpful. It can only take something small as a swanky new logo to get the ball rolling!
Good Design Fuels Creativity
A big way that most businesses generate profit is through innovation. Pushing your startup in new directions – doing things that other businesses perhaps haven’t done before – is a great way to get people’s attention. As we mentioned before, design is something that seeps into all areas of a business, and innovation is definitely one of the main ones.
As Creative Industries points out, businesses that invest heavily in design and regard it as a significant part of their company are twice as likely to develop new products and services. It’s hard not to see there being a correlation between the UK’s reputation as a hub of design talent (something we’ll touch on a little more in a bit) and one for innovative businesses. The UK has the highest number of trademark applications per year out of any country in Europe and is ranked fourth out of all the countries in the world. Impressive, right?
Design is a versatile concept – going way beyond simply graphic design – meaning that it has the ability to influence your business in a number of ways. At its core, it’s about forging your own path, bucking trends and doing something new.
One The UK’s Most Thriving Industries
One of the most impressive things about design in the UK is that it’s an industry that’s thriving when a lot of other ones aren’t. Design is something that the British do incredibly well and have a reputation for excelling in for many decades; not only does the UK export 50% more design work than it imports, another staggering figure, but its pool of talent is still ever-growing.
If your business is based in the UK, then it’d be a crime not to take advantage of such an incredible resource when it’s sat at your doorstep. Design is one of the things that the UK does best, with businesses’ investment in our design industry having a direct link to profit… So why miss out?
In the digital age, good design is more important than ever. With the rise in significance of the Internet and mobile phones in recent decades, design has become something that’s impossible for business-owners to avoid. It’s important for everything from ensuring you have a user-friendly website to a logo that will work on multiple digital platforms… Good design will make sure that your business excels in these areas, attracting new customers and increasing your profits. Bad design, however, is likely to do the opposite.
Getting a good designer on board is an incredibly important move when trying to ensure your business navigates the digital age with ease. While you can simply do some of the design work yourself – such as throwing together a website – securing a designer that keeps on top of the latest trends and innovations is sure to be invaluable. Things are only likely to get more complicated in the years to comes, with new technology popping up all the time, and good design is the best way to keep on top of it all and remain profitable.
So, what do you think? If you’re ready to secure your business some quality design work, then make sure you tap into our pool of super-talented designers here. There’s no better way to ensure your start-up reaches its full potential.