Companies need to look at their products, services and experiences through the lens of design. Should you develop and bring to market products that are flashy and alluring? Or do you develop products that are staid but practical?
Living businesses know that when bringing a product to market, it’s not so black and white—there are situations that will influence their strategy. They know how to identify alternative, evolving customer expectations. They know when to act on insights derived from rich consumer data to develop compelling new experiences.
And they know success comes from finding the right balance and ways to deliver outcomes in real time.
Consider, for example, how insurer Achmea Holding N.V., is targeting an underserved market segment—low-income households—by providing a product explicitly designed for them, to provide safety and improve their neighborhoods, by preventing or reducing damage from fires and burglaries.
Specifically, Achmea has developed and piloted a peer-to-peer alarm platform that makes it easier for neighbors, friends and family members to find out when there is a potential problem near them, reach one another and help each other out. The platform works by connecting a variety of home security solutions including Chuango to messaging apps such as WhatsApp and Facebook Messenger.
With initial, positive results in (declining claims from those participating and also from social housing corporations in the target area), Achmea is now planning to scale this to more households within the next several years.
In short, companies that prioritize design to meet shifting consumer demands will reap the benefits of becoming a continuously innovative and relevant organization that stays in step with consumer—and a step ahead of the competition.
How so? Among high performers: