{"id":4428,"date":"2023-02-02T01:19:28","date_gmt":"2023-02-02T06:19:28","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2023\/02\/02\/the-one-area-where-brands-cant-afford-to-cut-costs\/"},"modified":"2023-02-02T01:19:28","modified_gmt":"2023-02-02T06:19:28","slug":"the-one-area-where-brands-cant-afford-to-cut-costs","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/the-one-area-where-brands-cant-afford-to-cut-costs\/4428\/","title":{"rendered":"The One Area Where Brands Can\u2019t Afford to Cut Costs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>By\u00a0 Aaron Shapiro, Chairman and Founder, Product<\/em><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.nytimes.com\/2023\/01\/20\/business\/google-alphabet-layoffs.html\">Google<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.nytimes.com\/2023\/01\/18\/business\/microsoft-layoffs.html\">Microsoft<\/a>\u00a0just announced plans to lay off 10,000+ workers and they\u2019re not alone.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Brands from virtually\u00a0<a href=\"https:\/\/www.businessinsider.com\/layoffs-sweeping-the-us-these-are-the-companies-making-cuts-2022-5?r=US&#038;IR=T\">every segment<\/a>\u00a0\u2013 tech, banking, auto, media, CPG and more \u2013 have been hard hit by the economic downturn, which has led to layoffs, hiring freezes and budget cuts.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.productinc.com\/articles\/great-design-transforms-business.html\">Virtually no departments have been spared<\/a>\u00a0from the belt-tightening, including HR, operations, engineering, marketing and even sales.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">But as they look at their 2023 budgets, there\u2019s one (somewhat unexpected) area brands shouldn\u2019t cut: Design.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Whether it\u2019s customer experience or product design, seamless and intuitive design has the power to transform a brand. Afterall, the most valuable company in the world \u2013 Apple \u2013 built its entire identity around great design.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Ironically enough, when surveying costs across their businesses, design may be on many brands\u2019 lists of where to scale back.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s why they shouldn\u2019t cut design:<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1. It\u2019s your customer engagement roadmap; without it, you\u2019re driving blind.\u00a0\u00a0<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">One of the reasons many brands may look to slash design costs is because they have a poor understanding of what it is in the first place. Indeed, two-thirds of brand leaders say they don\u2019t understand what their designers do.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Design is more than how an object looks and feels or the layout of an ad. Design serves as the plan for the entire experience a person has with a company or product\u2014whether its customers (customer experience design), employee (employee experience) or other stakeholders.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Take customer experience for example. Design in this case covers every brand interaction a customer has. Every touch point must be perfectly tuned to the individual\u2019s needs. Expectations must be anticipated and met. Every step of the way should be an effortless delight.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The end result is an experience that people love rationally, because it solves their problems and emotionally, because it surprises and delights.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2. It can be the north star for all other areas of the business.\u00a0<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Companies that prioritize design benefit from a clear vision for the future \u2013 a north star for the target customer experience that everyone\u2019s working toward. It\u2019s an idealized future state that purposely ignores all of today\u2019s technical, financial and organizational constraints.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">This vision doesn\u2019t have to come from a Jony Ives-esque design genius. It can be a simple, unifying statement or idea that captures what an organization is trying to achieve.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">A clear design vision makes day-to-day decisions easier because everyone knows what they\u2019re working towards. This can be incredibly helpful as brands decide where to cut costs. Areas that don\u2019t make progress against the larger vision are the safest bet for near-term savings.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>3. It can be an immediate differentiator in a competitive market.<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Experience design is an iterative process \u2013 due in part to the fact that the consumer is trained by the best companies to expect more.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Imagine, for example, if every streaming platform took a few minutes to load. Customers will tolerate the inconvenience if it\u2019s ubiquitous.\u00a0 But the minute a platform reduces its loading time, it\u2019s game over for everyone else. The consumer\u2019s expectations have recalibrated and lesser experiences will no longer be tolerated.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Companies that have excelled in design understand that the best experience is worth 10x the second-best experience in their industry. They also know that good design can be difficult to achieve. But because the magic of perfect design is so rare, it can be a powerful brand differentiator. Customers will even tell the world about it (think Disneyworld).<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><strong>4. Design drives short-term ROI.<\/strong><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Design isn\u2019t just about long-term success. The best design iteratively improves every detail of the customer experience, all in service of driving more revenue and profitability.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say you are running a subscription business.\u00a0 How much is a 10% improvement in conversion worth to your business? Conversion improvement like this is only possible with designers working to test different messages and conversion flows to see what moves the needle.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">By setting clear KPIs and pointing designers towards improving those metrics, customer experience can be improved to produce numbers that will make a big difference, especially in a more difficult economy.<\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The bottom line<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Brands are navigating the most challenging market they\u2019ve experienced in a long time \u2013 if not since the start of their companies. They\u2019re rushing to right-size their organizations and they\u2019re focusing precious budget dollars on the areas that deliver the biggest ROI. The one area they simply can\u2019t afford to cut during this time is design.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Those that make the mistake of doing so, risk weakening their customer experience, damaging their reputation and losing their competitive edge.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">What\u2019s the upside of maintaining a strong commitment to design?<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Perhaps the best proof of the value of design is a\u00a0<a href=\"https:\/\/www.dmi.org\/page\/DesignValue\/The-Value-of-Design-.htm\">study<\/a>\u00a0that found that design-driven companies outperformed the S&#038;P 500\u2026by more than 200% over a 10-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brands from virtually\u00a0every segment\u00a0have been hard hit by the economic downturn, which has led to layoffs, hiring freezes and budget cuts.<\/p>\n","protected":false},"author":7,"featured_media":4429,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","editor_notices":[],"footnotes":""},"categories":[1],"tags":[4],"topics":[2],"class_list":["post-4428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-culture","topics-editorial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The One Area Where Brands Can\u2019t Afford to Cut Costs | AW360<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advertisingweek.com\/aw360\/news\/the-one-area-where-brands-cant-afford-to-cut-costs\/4428\/\" \/>\n<meta property=\"og:locale\" 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