What if your New Year’s resolution was to transform your business into a Living Business—one that can continuously adapt to stay hyper-relevant in your customers’ lives?
Our research shows that those companies who become Living Businesses will achieve stronger growth than their peers, and be better prepared for industry disruption. And most importantly, they’ll remain hyper-relevant in an environment where uncertainty is fueled by the ever-present danger of disruptive innovation, and the constant threat of new entrants who can swoop in and win on customer experience.
Becoming and staying hyper-relevant places new demands on businesses. It means that companies need to continuously pivot to the technologies and processes that yield a deep understanding of customer needs in real time. And, they need to execute on platforms that meet and exceed customer expectations with speed and scale. To stay ahead of the curve, they also need unrivaled innovation and design capabilities.
That’s why we believe our 2019 Fjord Trends analysis is such an important resource. It helps you understand how your customers and their expectations are likely to change in the year ahead. It’s no coincidence that this year’s theme is around the search for value and relevance. The seven trends highlight some of the most important changes that you need to keep on your radar—everything from consumers’ attitudes on sustainability and data privacy to the possibilities that can be unlocked through mobility ecosystems and synthetic reality technologies. Here are our top three to help your businesses stay relevant and provide ongoing value to your customers—and the world at large.
“The Last Straw?” shows what’s at stake when it comes to building sustainability into products and services. Brands that neglect this angle will risk losing their customers to the competition. It turns out, though, that redesigning your business around customers who want to help save the planet isn’t just a defensive move; it can actually unleash a tidal wave of creative opportunity.
“Ahead of the Curb” suggests that the future ecosystems of our mega (and not so mega) cities are forming now. There is a flood of next-generation products, services and business models launching. Are you in energy? Transport? Retail? Government? It affects nearly every industry, so businesses should engage with a broader set of ecosystem alliances now. They must ensure they're in the growth networks that will help them to design, deliver and scale new products and services quickly. In this way, they can meet customer demands and develop their businesses.
And “Space Odyssey” states that the way digital and physical realms have converged will unleash deep changes in the way we use space in our lives. So far, we see this most in retail and office environments. This presents tremendous opportunities for businesses to not only design and deliver intelligent omni-channel products, services and experiences that revolutionize how people work and shop, but also to rewire their workforce with a customer-centric mindset that inspires people to constantly innovate, learn and develop.
The trends are telling us a clear story. People—your customers—want experiences that are relevant in the moment and delivered at the right time. Embracing the Living Business model will not only meet their expectations, but will allow your company to become more flexible and find growth where others can’t.
Are you on the right path?