Design Thinking Basics

Why Design Thinking is key to a building a strong Brand.

In 2018, McKinsey's 5 year study of 300 publicly-listed companies revealed that those using "design as a strategic tool to develop intuitive products and experiences that meet customer needs have leapfrogged their peers. With design embedded into their culture, they can continually innovate at scale."
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The conclusions were drawn from two million items of financial data and analysis on business actions across a spectrum of industries.
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Design Thinking is design-led business decision-making.

In action, Design Thinking is a series of steps and activities that draw out deep customer insights, and proceeds to test ideas through rapid prototyping and iterative learning.

In deployment, companies that excel at design grow revenues and shareholder returns at nearly twice the rate of their industry peers according to McKinsey.

These insights and activities don't just apply to branding, the McKinsey study found that a design-led approach yielded very positive growth for banking and services organisations.

Design Thinking activities help you to deeply understand the specific needs of your customer, and meet those needs with greater accuracy and focus.

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Next : Storytelling Basics

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In cases where the action plan calls on a wider scope, Lumo Lab can draw on its connections to recommend from a wide pool of expert consultants. With our existing understanding of their strengths we identify consultants who closely align to the needs of your action plan.