Designing Revenue
How To Intentionally Design A Money Making Product Machine
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Design Is Good For Business
The good news is that Design makes businesses money. The bad news is that not everyone knows how to apply that to their business.
“My board doesn’t want me to do user testing because they say there’s no ROI on that type of work” — Director of Product who’d prefer to remain anonymous.
When I hear this insanity I want to pull out my hair. Even though report after report has found a high correlation between how strong companies are at design and superior business performance, there’s still a lag on how quickly this is adopted in all organizations.
Top performers in these surveys increased their revenues and total returns to shareholders (TRS) substantially faster than their industry counterparts did over a five-year period — 32 percentage points higher revenue growth and 56 percentage points higher TRS growth for the period as a whole.
According to DMI, “design-centric” companies outperformed the S&P 500 by 211%. “Every dollar spent on UX brings in between $2 and $100 in return.”
These are encouraging results but there is at least as much work ahead of us as there has been done in the past two decades. In many ways, connecting the value of the product to the value of an organization is in its infancy.
As product and design leaders, it’s necessary to have strategies, and tactics to prepare and overcome this bottleneck. Below is my current attempt to identify the causes of these obstacles and the potential strategies to overcome them. If you have better suggestions I’d love to hear about them in the comments.
Engaged People Create Engaging Products
Countless authors and researchers report that autonomy, mastery, and a sense of belonging are the three pillars of happiness at work. Yet observed behavior shows companies prioritize process…
