What are the best ways to align your product portfolio with emerging trends in your industry?

By staying proactive, adaptable, and customer focused you can position your product portfolio to align seamlessly with emerging trends in the industry. Imagine you are leading a insurance company and aiming to align your claim process. So what I can think of is use a AI powered claim assessment system which will reduce turnaround time and enhance customer satisfaction.

Here are some tips based on my experience: Actively engage with industry news, reports, conferences, and expert opinions to stay at the forefront of emerging trends. Consider attending industry events, subscribing to relevant publications, and networking with influential figures. Don't get caught up in every fad. Analyze trends, assess their potential impact on your industry, and prioritize those that align with your business goals and target audience. Consider not just technological advancements but also evolving customer needs, societal shifts, and environmental concerns. Understanding these broader landscapes can reveal hidden opportunities.

this is simple. You have to be proactive, stay on top of emerging trends both global and reigonal, evolving customer needs and also through comptetive analysis that how your industry and other similar industries are responding to these changes.

Um neue Trends zu identifizieren: 👉🏽 Marktforschung: Beobachte und analysiere den Markt kontinuierlich. Nutze Tools wie Umfragen, Datenanalysen, Branchenberichte und Studien, um Trends, Veränderungen im Kundenverhalten und aufkommende Bedürfnisse zu erkennen. 👉🏽 Höre auf deine Kunden. Analysiere ihre Rückmeldungen, Beschwerden und Anregungen. 👉🏽 Halte dich über aktuelle Entwicklungen in deiner Branche auf dem Laufenden. Verfolge technologische Innovationen, gesellschaftliche Veränderungen und Trends, die deine Branche beeinflussen könnten. 👉🏽 Wettbewerbsanalyse 👉🏽 Organisiere interne Workshops oder Brainstorming-Sitzungen mit deinem Team, um kreative Ideen zu neuen Trends zu generieren.

Aligning your product portfolio with emerging technology in your industry involves staying ahead of trends and adapting strategically. Here are effective ways to do so: 1. Collaboration and Partnerships: 2. Continuous Training and Development 3. Continuous Training and Development 4. Risk Assessment and Mitigation staying vigilant, fostering innovation, and strategically aligning your product portfolio with emerging technologies, you position your company to remain competitive and relevant in a rapidly evolving industry.

Portfolio evaluation is a very crucial step: Map your current products against the identified trends. This helps visualize which products are aligned with rising forces and which might need adjustment. Assess the performance of your existing products based on relevant metrics like market share, revenue growth, customer satisfaction, and profitability. Are there unmet needs in your target market that emerging trends could address? Are there product redundancies or inefficiencies that can be streamlined?

Once you have identified "la moda" (the "cool" trend), verify if in your portfolio, which products/services could jump, be ahead or follow the trend. Depending on your position in the trend, stablish your objectives and plan of action. Be agile to jump in and jump out, so you are not caught with the "fingers in the door." Don't forget the main path: ✅Vision-Mission-Values-BHAG ✅ SWOT&CAME ✅ Strategic Plan ✅ KORs ✅ Strategic Goals ✅ KPIs ✅ Agile Methods ✅ Feedback For those running to Google, to search the acrostic letters, just follow my LinkedIn profile!

What's on trend these days, the eCommerce (eLearning, eCoaching, eWorking, eBuying/Selling), Influencers, simplification of processes (Uber, Lift, TURO, rBnB, etc.), AI (boots, assistance, DYI, etc.), autonomous vehicles, maps and search, Green Energy, Meta City, Augmented Reality and B2B/B2C services. Do you have products or services that could jump in the expected trend? If the answer is yes, then: ✅ Classify your product/service ✅ Build your road map ✅ Communicate with your team ✅ Form multidisciplinary groups that will define the actions to comply with the objective ✅ Communicate the Strategy, Objective, Plan Actions to all your internal team and support partners in the market Allways align your pathway to your BHAG

Evaluation of primary hypothesis is crucial, especially on emerging markets. Dealing with hardware products there are 2 ways to meet target: a priory correctly define the strategy or try to adjust to the demand appeared in unpredicted niches. Both approaches are polar, but it is better to be more close to the first one. But sometimes it is not a shame to follow a leader and earn in new fields discovered by the pioneer.