Does your company sell products? Are you looking for ways to improve your profit margin?
Rethinking what you’re already doing
At D2M we have experience helping SME’s establish product design language to create a family of products. These visual systems use physicality, functionality and visual elements to tie together a product line and create a recognisable brand. D2M establishes long lasting partnerships with SMEs who return to us with more products they want to develop and a need to increase their profit margin. This can be anything from creating a new product to expand on their existing range or simply redesigning a current product which needs a fresh pair of eyes. We are able to source trusted manufacturers around the world based on the needs of the client and the product. We are able to produce multiple prototypes for clients so they can test them in the intended environment and get a sense of how they’ll be used. They can test the functionality of the prototype with a real user in a real situation. We can use feedback from the client and users to improve and refine the user experience. If any adjustments need to be made, we can work proficiently to make the adjustments and showcase the new prototype to the client. This iterative and collaborative process leads to more successful design solutions.
Consider the cost of manufacture
Anyone who has a company that sells products will know how important profit margin is. Whether you’re selling branded white label products or products that you’ve designed yourself, one of the factors that can make the biggest difference to your bottom line is the cost of manufacture. Just a couple of pounds difference in the manufacture costs can make a huge difference to your margins. So how do you go about reducing these costs and boosting your profit margins?
Recently, we were approached by a company that sells a product, that they had previously sourced from a factory in Taiwan, through an agent. It’s their best-selling product and they are making money on every unit, but they were looking to increase their margins. They also know their market well (always a key to product sales) and could see areas in the design of the product that they wanted re-designing. The company is keen to move into making their own version of the product to set them further apart from their competitors who sell similar products.
Looking at things in detail
With this brief, the team at D2M set to work. We de-constructed the current model, looking at each part in detail and developed innovative improvements in several areas. At every stage we were able to apply their market insights to the design changes we made. The partnership with the company and the collaborative journey was key to ensuring we came up with the best solutions.
Once the design was finalised, the next step involved utilising our experience of working with factories in the Far East. In partnership with the company, we produced a compelling presentation of the remodelled design in order to pitch it directly to the factory. Using the design (which the factory loved!) and the presentation, we were able to facilitate a direct relationship between themselves and the company to manufacture the new model.
The results speak for themselves
Here’s what one business owner said to us just last week: ‘thank you so much! You’ve completely revolutionised my business!’
If you would like to know more about our process and how we can help you please do get in touch.