Smart businesses knows the value of design to their bottom line and view design as an asset.
The issue with design is that unlike tangible assets such as buildings and office equipment that can be given a monetary value on the balance sheet, design is not so easy.
Although design of a brand is hard to quantify, successful companies such as Apple know the intrinsic value of brands.
This year the brand value of Apple was estimated at an amazing $247B (yes that is $247,000,000,000).
It doesn’t mean that Apple can simply put their logo onto any product they choose and instantly increase its value.
If the product doesn’t follow the culture, quality and design philosophy of the brand that has been built up over time and is recognised by consumers, then it is likely to flop, and worse yet damage the percepted brand value by eroding brand equity placed upon it by the market, resulting in a decrease in revenue now and into the future.
Apple is one of the best companies to recognise the importance of the influence of design in every facet of their business, from the interiors and exteriors of stores; visual language in advertising; packaging: UI and UX of every product, right down to the look of each item in the Apple world, be it a plug or cable.
The fact is, every business no matter how big or small, should utilise the value of design to create positive results, and accept that design is a very real asset that is worth investing in.