In today’s digital age, consumers are embracing technology at a rapid pace never seen before. They just aren’t looking for a high quality product or service. They are looking for personalized offers, forcing companies to make seismic changes in the way they run their operations. In addition to price and product, the customer experience has evolved to be a key differentiator for quite some time now.
Organizations are therefore looking to transform the way they do business and create transparent customer journeys, keeping the customer at the heart. For example, when it came to rearranging cartridges, HP Instant Ink has subtly shifted from a responsive model of customers buying ink cartridges as needed to a proactive model. In this, customers could sign up for a plan, and when completed; HP knew when printers would run out of ink and ships them ahead of time, saving customers time and effort. This not only helps make customers more productive, but also builds loyalty.
HP was able to create this customer-centric model by embracing design thinking, keeping customer needs at heart and designing around it. While this is easier said than done, the key question is: do companies gain a competitive advantage by combining design and customer experience? Is it worth the hype? Research shows that companies that focus on design fare significantly better than their peers who haven’t.
The secret sauce is to combine business and design, commonly known as âBusiness Designâ. It helps define the economy of a business, which is two-way: the money that comes in and the money that is needed to create it. Business Design has already become the new rage, and it’s undeniably the next big thing.
Define the business design
Business design is a user-centric, collaborative approach that seamlessly integrates design and management to help companies develop, strategize, and deliver a viable business model based on user research, market analysis, strategy and user experience.
The economic model is at the heart of any business. With rapid changes in technology, market trends and the emergence of start-ups, physical businesses have had to evolve exponentially on the innovation front. Failure to do so resulted in losses and, moreover, loss of relevance. Innovative business models with thoughtful new ideas are the need of the moment. This is where corporate design comes into the picture.
Where Business Design stands out from Design Thinking
Corporate design is not the same as traditional or pure design thinking. Traditional design thinking helps create products that people love. Business Design, on the other hand, is comprehensive. It helps organizations develop a viable business model by quickly testing its riskiest assumptions against the market and designing products and services that thrive in the market.
From creating user-centric products and services to bringing a new twist to traditional or pure design thinking, âbusiness designâ has the potential to develop viable business models and transform the world. customer experience, defined by consumer needs and preferences. benefits in the form of increased revenue from products or services, better market positioning, increased customer loyalty and reduced customer complaints. It also helps create a stronger brand identity for your business, speeding time to market for new products and services.
In conclusion, Business Design is about seeing things from a different perspective to enable managers, strategists and designers to think more creatively and develop new ideas. It allows testing the viability of new approaches to generate more unique insights or outcomes. And companies that can combine the two will undoubtedly have the advantage over those that have not yet exploited the possibilities of Business Design.
(Author Priyank Kapadia is responsible for the digital practice at Accolite Digital and the opinions expressed in the article are his own)