Today’s marketplaces are more competitive than ever before - with and without all the crises we’re currently witnessing. But what is it that makes the difference between the businesses that do thrive and the ones that don’t?
McKINSEY DESIGN STUDY
The international consulting firm McKinsey took a deep look into this question and conducted a study among 300 publicly listed companies over a period of five years. According to McKinsey, it is „the most extensive and rigorous research undertaken anywhere to study the design actions that leaders can make to unlock business value“.
And even though the study is dated October 25th, 2018, the outcome is just as relevant and accurate as today.
"The companies in the top quartile of the McKinsey Design Index financially outperformed their peers in terms of revenue (+ 32 % higher revenue over 5 years) and shareholder return (+ 56 % higher). That's an extraordinary number in a short period of time.“
Benedict Sheppard | Partner in the London office, McKinsey Design
Successful companies know how to differentiate themselves from their competitors by implementing good design in all aspects of their business: product design, service design, webdesign, brand design etc.
A cross-functional branding approach is crucial and the only way to successfully master the huge challenge of offering a holistic brand experience for customers on every single touchpoint - may it be online or offline. As we know from many years of experience, a corporate design manual is an ideal way to achieve that.
“Design is more than a feeling: it is a CEO-level priority for growth and long-term performance.”
For more in-depth information, you can download the business value of design study on McKinsey’s website.