Have you noticed the increasing emphasis on thought leadership in recent months? The topic is once again a corporate buzzword as more and more organizations showcase their relevance in the marketplace via expert articles published by company leaders. Top executives talk about the need to engage in this kind of practice, but are unsure why or how to begin. What exactly is thought leadership and why is it important, especially now?
Defining Thought Leadership
The Oxford Dictionary defines thought leadership as “the practice of developing important new ways of thinking that influence others.” The concept is not new; in fact, it’s been in use since the late 19th century. However, the phrase ‘thought leadership’ or ‘thought leader’ has evolved to the extent that it is currently of great significance, relevance and importance.
Today, Wikipedia refers to a thought leader as “an individual or firm that is recognized as an authority in a specialized field and whose expertise is sought and often rewarded.”
According to Huffpost Contributing Writer Gabriel Shaoolian, “Thought leadership involves the creation of content that harnesses a brand’s expertise in their industry to provide useful information or solutions to questions and problems their audiences face.” The impact thought leadership – when expressed correctly — can have on your business now becomes more apparent.
Most executives, marketers and salespeople will agree that it is better to be a leader rather than a follower. Establishing a forward-thinking presence within your company’s industry does require some homework. Assess the following:
- Have you determined the questions your target audience finds most important?
- Can you provide answers to those questions?
- Do you have additional insight that sets you apart from your competitors?
An affirmative response to the above is critical to implementing effective thought leadership. When your expertise and enthusiasm align with the needs of your target market, you are on the road to generating brand recognition and building business-to-business relationships.
Conveying Your Expertise
Now that you understand the importance of positioning yourself as a thought leader, determine your brand’s area of expertise. A company’s proficiencies are sometimes obvious; other times, not so much, especially if the products or services are not easily highlighted in typical content marketing. If the latter situation applies, consult with a marketing professional to help you identify a topic through which your company’s offerings can position you as an authority.
“To create active and engaging content, it helps to focus on topics that are most relevant to your business,” states Brenda Little, Lead Marketer at Marketing Direction. “Focus on niche subjects that not only pertain to your industry, but, equally important, are also helpful to your target market.”
Conveying your message can be achieved any number of ways. Basically, any form of content marketing that illustrates the in-depth knowledge and experience of your brand can be considered thought leadership. Make sure messaging is delivered with authority and thoroughness and offers a perspective that is in some way unique.
“Blog posts, whitepapers, case studies, videos and webinars serve as a valuable resource to customers and clients while positioning companies as leaders and experts in their respective industries,” Brenda explains. “Content that appears in industry publications helps to create a deeper connection with customers as well as new audiences as they gain a better understanding of or introduction to your business.”
The bottom line is that your audience must perceive genuine value in your content for it to be considered thought leadership. Messages should inform, educate and, perhaps more importantly, help audiences in their decision-making processes, says Forbes Council Member Leslie Licano. “This … is particularly relevant in business-to-business relationships. You should be helping your customer or client identify or recognize their problem, needs or requirements, and pointing them toward a solution.”
Building Trust
The consistent positioning of your brand’s expertise within an industry has the added benefit of building trust and credibility with your target audience. Successful thought leadership is when clients and prospects associate your company with being highly skilled and innovative and ultimately predisposes them to do business with you. In order to establish that bond of trust, messaging should come from a place of sincerity.
- Be cognizant of your audience’s time and publish content that is of value to them.
- Avoid the sales pitch.
- Create messages that appeal to the majority of your audience, not just a select few.
- Stay current on subject matter that is relevant to your audience.
- Share your individual perspective; not the vision of others.
Often, these articles are ghostwritten for the CEO by team members who specialize in writing strategic content. “It’s a collaborative effort that should always reflect the company’s brand and values,” Brenda states. “The overall insight clearly needs to come from the executive level for it to be considered true thought leadership.”
Thought Leadership Has Its Perks
In addition to building trust, thought leadership can positively impact the SEO performance of your company’s website. Blogs and articles that provide fresh content signals to Google that the website is active, thereby warranting more reasons to index a site. Additionally, visitors are likely to spend more time on your website if there is content of interest available to them.
Another exciting aspect of dynamic content is that it helps smaller companies achieve higher rankings organically, without the big-budget purchase of primary key words. “More than half of all searches involve phrases with more than four words,” Brenda explains. “Articles and blogs give companies the ability to rank higher in search results by targeting specific long-tail keywords.”
Articles allow for additional linking opportunities to a company’s website, which further strengthens target keywords. Lastly, good content is often shared with others on various social media platforms or via email, resulting in increased visibility for your brand.
Thought Leaders Don’t Come Along Every Day
It is important to understand that thought leadership status cannot be created overnight. Regardless of the industry, becoming a trusted figure in any field requires more than just one blog post. Rather, it is a process of patience, hard work and a desire to cull information from a variety of sources in order to respond to the needs of your target market. “Continue to research, learn, and test – in essence, become a lifelong student,” states Brenda.
