The Benefits of Design-Driven Product Development: Maximizing Business Value and ROI.
In today's competitive landscape, combined with the added pressure of economic fluctuations and rapidly changing customer expectations,?the importance of design-driven product and service development cannot be overstated. Design is no longer seen as merely a cosmetic aspect of product development, but a critical component of business success. When products are designed with a deep understanding of the user, the results can be significant, both in terms of customer satisfaction and lifetime business value.?
Let's take a look at the iPhone, a prime example of the power of human-centric, design-driven product development in action. Its intuitive design, combined with a sleek and user-friendly interface, created a seamless user experience that transformed the way we interact with technology, and even the role it plays in our lives. Everything from its full touchscreen to the box it came in was designed with the customer in mind. As a result, the iPhone has had a profound impact on our daily lives, and its success has translated into substantial value for Apple, reinvigorating the company and its bottom line. Now, as one of the most successful and recognizable products in the world, its impact on the tech industry and society has been and continues to be monumental.?
The benefits of design-driven product development are not limited to consumer-facing products. In any industry, products that are designed with the user in mind are more likely to be successful and generate positive returns on investment. Design-driven products are often more efficient, easier to use, and more accessible, which leads to increased customer satisfaction and loyalty. Changing the button layout on an ATM can have a significant impact on the way the user accesses and experiences the simple act of withdrawing their money, it can either be frustrating or a seamless delight.?
Over the last few years, 70% of financial companies, 58% of tech companies and 50% of retailers began investing larger budgets into customer experience*, and the idea of design-driven product and services development. By putting the user at the centre of product development and designing with a focus on creating a seamless user experience, businesses can create products that not only meet the needs of their customers but also drive real impact and value.
*blakemichellemorgan.com