There are companies that understand that the future matters to customers and stakeholders. But claiming to be future-orientated is not enough. You need to proof it. And you need to talk about it. Here are some examples of companies that do this well. Surprisingly, I had some troubles finding them. Let’s find out why it can be hard to do it right.
No doubt about it: all enterprises need to have a certain business model. This business model is often affected by a variety of specific external developments in the present and the future. For example, in retail you want to know more about customer trends, the way how digital technologies will shape the industry, or you are interested in competitive or legislative trends. In mechanical engineering businesses, you might be more interested in technological breakthroughs that will influence your business now and in the future. The key take-away here is: trends will influence your business individually. You should know your business and the environment well in order to track the rights developments. If you do, that’s great!
Background vs. foreground trends.
Once you figured out what are the trends you need to look for, the question then is: do your customers care about these trends as well? The answer is tricky. It all depends on the value proposition of your business. You need to differentiate here: for instance, trends that affect your production may not be interesting for your customers. Let’s call them “background trends”. Not all technologies or economic developments may primarily interest your customers. All they usually care about is the end product. But is this really so?
Not all technologies or economic developments may primarily interest your customers. All they usually care about is the end product.
Customers often look at products from different perspectives. How ethical, sustainable or secure is your product or service? Is there a difference to competitors when it comes to future functionalities of your product? These are questions that are stronger linked to your customers. And here you can make a real difference in the Porterian perspective of competition. Therefore, let’s call external trends that people directly link to your product “foreground trends”. Focusing on these foreground trends and anticipating what your customers might want in the future, brings communication in. Conclusively, it is very important that you prioritize trend developments that are foreground to you customers.
It is very important that you prioritize trend developments that are foreground to you customers.
Some customers don’t know what they want in the future – do you?
The thing is that customers often don’t know what they are looking for. This is what Steve Jobs once put so aptly: People don’t know what they want until you show it to them. That’s why I never rely on market research. Our task is to read things that are not yet on the page.” There are many influencing factors of their perception: experiences, life status, friends and social groups, or their media consumption. The perspective how products are perceived and linked to future trends depends very much on biases (e.g. group thinking, available information, or emotions – more on that later in this blog). In is chance for your organization to analyze foreground trends that matter to you stakeholders. You should mirror their future-oriented expectations and give orientation in complex times. And this is a proactive task you where your organization has control of!
You should mirror their future-oriented expectations and give orientation in complex times. And this is a proactive task you where your organization has control of!
Strategic communication is extremely important for this proactive agenda setting when it comes to foreground future trends. Because when you know what kind of foreground trends your organization is good at, you should communicate that. You can signal that your organization is forward-looking organization that takes future trends, opportunities and challenges seriously and has answers to them. You can make a difference to your competitors by linking future issues to your business model. It is absolutely worthy to use resources to present your product and business model as future-oriented.
When I wrote this article I thought that it would be easy to find companies that fulfill the criteria for proactively communicating foreground trends. But it struck me that I really had to dig deep to find some good examples of companies that present themselves as forward-looking by highlighting their specific answers to trends that are bound to the foreground interest of their customers (e.g. sustainability, ethics, big data and transparency…). Yet, there are a couple of companies that already have a good grip when it comes to presenting their organization as forward-looking and proactive foresighters.
Here are some examples of companies that use future-oriented communication
DM Drogeriemarkt
dm is the largest drugstore retailer in Europe with over 4.000 stores in 14 European countries. dm is constantly working to live up to its responsibility for sustainable development. This commitment was recognized in 2023 with the German Sustainability Award. àThe company has a own section on the website and in its customer magazine in markets where it proactively addresses its contribution to future issues like sustainability and digital transformation.
“At dm, we also deal with the question of how we can prepare for the future and help shape it on a daily basis.” — Christopher Werner, Chairman of the Executive Board
Ford
The automobile company defines regularly several external foreground trends related to their industry and customers. à Ford has a regular trend report “Further with Ford” and a dedicated website on these trends. Recently, the foresight team identified 6 major trends that are linked to the mobility sector mobility in society.
„A shift is happening. In an uncertain and transforming world, people are reclaiming control.“ — Jen Brace, Chief Futurist and Ford’s Global Trends + Futuring Team
Henkel AG
Henkel AG is a German company in the consumer goods and adhesives industry with global brands and technologies in the Consumer Brands (detergents/cleansers, hair) and Adhesive Technologies (adhesives) business segments. Henkel is represented in 79 countries with 47,750 employees. Henkel has a own website section that spotlights societal and technological trends: https://www.henkel.com/spotlight – it communicates foresground trends in a strategic manner user a creative blog format „Fritz for Future“ dedicated to its founder: https://www.henkel.de/spotlight/fritz-for-future
„Discover […] features with stories and expert insights on innovation, sustainability, digitalization and Henkel’s pioneering culture.“ Intro toHenkel’s Fritz for Future podcast series
General Electric Aerospace
GE Aerospace is a global leader in propulsion, services, and systems with 53.000 employees, an installed base of 70,000 commercial and defense engines in approxamitely 120 countries. It has an own communication section on „Defining the Future of Flight“ where it addresses technological foreground trends and is a good example how to do that in a B2B market.
„GE Aerospace operates at the intersection of science and creativity – delivering solutions that define the future of flight, lift people up, and bring them home safely. For more than 130 years, GE has invented the future of industry. From Thomas Edison’s first incandescent light bulb to today’s internet-connected jet engines, GE’s home-grown technologies spur world-changing transformations.“
IBM
IBM – one of the world‘s largest IT companies – hosted its first-ever strategic foresight event, Future Fest in 2024. Organized by IBM’s own Strategic Foresight Guild, this forward-looking event aimed to revolutionize product design, research, and business strategy by equipping IBMers with cutting-edge tools to navigate the rapidly evolving landscape of product development. à With 320 IBMers from 28 countries participating, the interest and need for this innovative methodology were clear: https://medium.com/design-ibm/future-fest-2024-ibms-first-foresight-focused-event-57c12308a8ad
„As IBM’s Future Fest concluded, one thing was clear: the critical importance of developing strategic foresight skills in today’s world. IBM’s investment in this area ensures a bright future for many more Future Fests to come.“ Dan Silveira, Senior Design Consultant, IBM Consulting
I strongly beliebe that there are many more examples of companies that do foresight. But where are they? When you dig deep you find many companies that have foresight experts. But you don’t ofte find any specific infomation on foresight exercises, results or the link to a company’s strategy. I my opinion, this is lost potential in times of dynamic and complex environments.“
Do you have other examples? Please write a message! I am happy to share any best practices of future oriented communication here.