Companies that excel at design grow revenues and shareholder returns at nearly twice the rate of their industry peers. That insight comes from McKinsey & Company. Two weeks ago, they shared their Top 10 articles from 2020. The one that really caught my attention at #8 was:
“Are you asking enough from your design leaders?”
In the article, Melissa Dalrymple, Samuel Pickover, and Benedict Sheppard found that 90% of companies weren’t reaching the full potential of design, even as, in the past five years, double the number of companies have added senior design roles.
Logitech shared its 3 phases of incorporating design:
1. Focusing on aesthetics and form of products.
2. Emphasis to encompass end-to-end user experiences.
3. Infusing design into everything the company does.
Logitech has seen the benefits. Its design-driven transformation between 2013-19 saw its market value increase roughly 700%.
Design Matters. For it to be effective, organizations according to McKinsey & Company “must embrace user-centric strategies, improving not only products and services but also the full user experience and, in some cases, the organization itself.”
Takeaway: Smart organizations leverage DX (differentiated brand, customer, and employee experience).