Graphic Design and ROI – What You Need to Know
According to IBISWorld, the graphic design market will reach a whopping $13.3 billion in 2022! Do you know why? The graphic design industry has become an integral part of all businesses, sectors, and industries that want to reach their target audience, create compelling visuals (website design, logo, visual content, infographics, etc.), and streamline their business operations.
Research shows that 75% of a business website's authoritativeness and credibility come from design and visual elements. If you have a poorly designed website, you can't engage your potential audience. As I have stated before, we all like looking at pretty things and if your website doesn't catch your audience eye in the first 20 seconds, you have lost them.
According to WebFX, 89% of customers buy from a competitor's company after a bad user experience due to ineffective graphics. That's why investing in graphic design is an essential strategy for businesses? What about the ROIs? Let's find out!
Graphic Design and Return on Investment (ROI)
Graphic design is an essential step in your business process. It can shape your business, engage your customers, and generate higher revenues. Experts recommend giving graphic design more attention if you want to increase your ROI chances. It is human nature to respond to a robust design and compelling image.
So, when you create a through-through and well-planned graphic design strategy for your business, your brand will stand out and generate healthy financial returns. Not only do you encourage people to think differently and respond to your brand, but you also improve their lives via attractive branding and better product-market fit.
One report shows that 38% of customers do not engage with a business website due to poor graphic design, unattractive content, and less engaging layout. Likewise, 39% of customers won't engage with a business website due to slow-loading images and graphics. User Experience (UX) has become more critical for business in the smartphone era.
About 68% of consumers use their smartphones to buy products and services from a website with a responsive design. At the same time, 79% of consumers will ditch a business website and use the competitor's site to buy products if they don't like the design and graphical content. So, graphic design is an integral part of your brand strategy, and if you want to increase ROIs, make sure you invest in a reliable graphic design agency.
Does Graphic Design have a Monetary Value?
Brands like McDonald's, Sony, Coca-Cola, and Nike have streamlined their business operations because they focus on their branding elements, including graphic design, to engage their customers. So, graphic design does have a monetary value if you make a solid strategy and align your brand with your ideal client's needs.
Although your company is more than your visual brand, including the logo and other visual elements, consumers demand that a company with a high-quality logo creates value and separates it from other businesses. Thus, a logo is your brand identity that creates a solid and positive customer connection.
Measuring the ROI of graphic design varies from business to business and investments. However, an effective graphic design strategy for your business will increase ROIs because it creates value for your customers.
Moreover, your brand defines who you are as a company in the minds of consumers. Are you professional or mediocre? Are you serious or whimsical? When your branding, including your logo, matches your company's vision with your want-to-be-consumers, it will create a compelling experience and welcome new customers. So, an effective graphic design strategy builds your business image and sells it, leading to higher ROIs.
ROI is an essential financial metric for companies to analyze their business efficiency after investing. ROI in graphic design describes your investment's effect in the design-related areas, such as website logo, website design, user research, usability, navigation, etc.
Although investing in good graphic design is expensive for businesses, it performs its job in spades and creates a substantial value for your customers. As a result, it yields higher returns on investments. Remember, good graphic design does not mean creating a logo for your website on a free logo maker app.
It requires careful planning and preparation. Hiring a professional graphic design agency can help you create an attractive brand. Not only will it engage your prospective customers, but it will also turn them into loyal clients. Let's Connect and talk about leveling up your visual brand!