In 2022, 61% of decision-makers preferred thought leadership over traditional marketing for showcasing product/service value. Additionally, 50% of C-suite executives see high-quality thought leadership as more impactful in economic downturns (Edelman and LinkedIn study). Building a thought leadership program should be an obvious strategy for brand building, but many companies don’t dedicate enough resources to this endeavor, and it ends up being a side-of-the-desk-type assignment.
So, what is thought leadership?
Being a thought leader means strategically positioning yourself or your organization as the go-to expert and influential voice in your industry or field. It’s about consistently sharing your unique insights, expertise, and viewpoint on relevant topics, going beyond self-promotion to contribute valuable information and guidance to your audience.
What is the goal of a thought leadership program?
A successful thought leadership program allows you to showcase your brand’s stance on issues that resonate with your customers and hold significance in your industry. It’s an opportunity to build trust with potential buyers by providing timely and relevant insights to address their most pressing business challenges. This is typically achieved through various channels, including content creation, public speaking, networking, and active participation in industry conversations.
A successful thought leadership program is underpinned by three core components: customers, content and culture.
1. Content
Crafting your content strategy involves finding the right balance between creating awareness of expertise and addressing specific customer needs. Choose between two strategies:
✅For Buyer Groups, align content with client needs, offering insights and solutions tailored through market or client research, prioritizing growth and revenue over external brand recognition.
✅For Brand, create content on major industry topics, connecting with your business areas for broad audience appeal. The goal is brand recognition, establishing your team as field experts, with revenue growth as a secondary focus.
2. Customers
Choose the right channels and tailor content to your audience by identifying demographics and psychographics, and creating personas. Use sources like communication audits and industry publications to understand motivations. Consider the buyer journey, adjusting content based on their stage—think of it as an inverted funnel or a circular loop for continuous engagement after meeting their needs at the bottom.
3. Culture
To succeed in your thought leadership program, your organization’s culture must support dedicating time and resources to exploratory projects, even if results take time. Embedding thought leadership requires a culture shift, backed by a clear communication plan. Start by explaining the purpose and vision, adjusting roles, and implementing new processes. In the market, communicate impact, celebrate success, and equip employees to share content, boosting overall brand impact.
While it’s not hard to build a thought leadership program, creating a successful one requires time, resources, alignment to strategy and dedication to see it through in the long run.