8 ROIs of human-centered design research and innovation strategy in this economic climate

At Sundberg-Ferar, I’ve been privileged to witness the benefits of human-centered design research and innovation strategy firsthand.

Our mission is to create meaningful solutions and exceptional designs that will connect to users, propel your business, and improve the world we live in, but in this current wave of economic uncertainty, these benefits become even more evident. Taking a deeper dive into the ROI of human-centered design research and innovation strategy in the current climate is essential.

Human-centered product and service design research puts the needs of people first and exceptional design goes beyond just the end-user. Product and service success takes satisfying all user needs, starting with your people, your partners, and your brand. It’s about understanding the challenges and specific pain points of all stakeholders including consumers, customers, manufacturers, and upper management, and then using that insight to develop solutions that meet their needs. At SF, we’ve seen that this approach leads to the development of products and services that are more effective, more efficient, and more successful. It’s no surprise that human-centered design research has become a critical part of our Genesis innovation strategy.

But what’s the ROI of human-centered product and service design research? Let’s take a closer look:

Increased Sales

When you create innovations that meet the needs of your customers, you’re more likely to increase revenues. Human-centered design research helps you identify the features and benefits that matter most to your customers, leading to a more effective sales strategy.

Reduced Costs

By understanding your customers’ needs and pain points, you can create products and services that are more efficient, reducing your costs. That is critical in not only today’s environment but is always prudent for your annual budgeting process. For example, you might identify a feature that’s unnecessary or too costly to produce. By eliminating it, you’ll save money without compromising the quality of your product.

Improved Brand Image

When you develop products and services that meet your customers’ needs, you’re showing that you care about them. This can lead to increased loyalty and improved brand image, which can help you stand out in a competitive marketplace.

Better Customer Experience

Human-centered design research helps you create products and services that are more intuitive and easier to use. This improves customer UX, which can help you retain customers and attract new ones.

Mitigating Risk

By investing in and bringing clarity to ‘the fuzzy front-end-, you’re reducing the risk of developing a product or service that doesn’t meet product <> market fit. This can help you avoid costly mistakes and reduce the risk of failure.

Now, let’s talk about why human-centered design research and innovation strategy are essential in the current wave of economic uncertainty.

Rapid Change

First off, we’re living in a time of rapid change. Customers’ needs and behaviors are evolving, and companies need to keep up to stay relevant. Human-centered design research allows you to understand these changes and adapt your products and services accordingly.

Digital Transformation

Second, the pandemic pendulum has swung back accelerating the need for digital transformation. Companies that were slow to adopt digital solutions and other human factors explorations are now scrambling to catch up. Human-centered design research can help you identify new products and technologies that will best serve your customers and help you thrive in a smart and connected world.

Demand for Sustainability

Third, we’re seeing a growing demand for sustainability. End users and supply chain partners are becoming more conscious of the environmental impact of the products and services they use. SF has put the planet and society at the table with the other specifications needed for innovation, functional and emotional plus economic viability. Human-centered design research can help you develop sustainable and ethical solutions that meet your customers’ needs and reduce your environmental impact.

Innovate with Boldness

An ancient Latin proverb tells the story of a group gathering at Pompeii’s docks before Vesuvius erupted. Loosely translated, it means that fortune favors the bold. I couldn’t agree more. Investing and doubling down in human-centered design research and innovation strategy has never been more important. It is essential for businesses in today’s economic climate. By placing our human experience at the center of product and service development, companies can improve customer satisfaction, increase revenue, cut costs, stay ahead of the competition, and establish themselves as socially responsible organizations. We have seen firsthand the benefits of this approach and SF is committed to helping our clients achieve success. We encourage all businesses to consider adopting a human-centered design approach to product development and innovation and to reap the rewards that come with it.

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