Strategic Value of Executive Thought Leadership
It might seem like "thought leadership" is just another example in the pantheon of corporate buzzwords, but done right, it’s a strategic approach to building the awareness and influence of you and your brand.
A well-structured executive thought leadership program is always customized to authentically reflect the interests and style of individual executives, and such programs can contain a variety of tactics from blog posts to media interviews. But they all have this in common: done right, such programs build trust with current and potential customers, partners, employees, and other stakeholders. Importantly, consistent thought leadership will deeply engage your core audiences and humanize your brand.
At Comsint, this is one of the most valuable tools we employ to boost our clients' professional reputation and broaden their audience. But still, we often get asked: Is it worth it? How do I balance such a program with my busy schedule? In this article, we'll delve into why executive thought leadership works, what it looks like in practice, and how to make it happen.
Why Thought Leadership Works
Thought leadership can drive new business. In a study of nearly 3,600 executives responsible for making decisions about professional service providers, 54% of respondents reported spending more than one hour per week reading thought leadership content, and 42% of the same respondents have invited a company to bid on business based on thought leadership content. This tells us that great thought leadership pieces can have a significant impact.
Good thought leadership thrives on authenticity. Today's audiences are adept at discerning genuine insights from rehearsed statements. In the aforementioned study, the majority of respondents reported that less than half the thought leadership they are reading actually provides valuable insights. Thought leadership content must be authentic to both the company and person sharing the content. Audiences have an expectation that content is not only aligned to the company, but also the leader’s personal social channels, board affiliations and personal investments. By sharing authentic perspectives and experiences, executives can connect with their audience on a deeper level, fostering trust and loyalty.
Effective thought leadership offers an inside look into the minds of industry leaders and challenges the status quo. This humanizes the leaders, making them more approachable and relatable and, in doing so, does the same for the brand.
So, Where Do I Start?
A successful thought leadership program is focused on timely and relevant topics happening in your industry and in the wider culture and offers observations that only you can provide. Your readers want your analysis and point of view- not another cursory regurgitation of the headlines. Think about what is important to your audience. What issues do they care about that align with both your personal brand and your company’s mission and purpose? Sharing your thoughts about these causes from your personal platform provides a peek behind the curtain that only you can provide, deepening the connection between you and your audience.
Thought Leadership in Practice
Thought leadership requires a targeted approach. Start by identifying your audience - both who they are and where they consume content. From there you can take a more targeted approach in developing and sharing that content.
Executing thought leadership can take many forms but some of the most common are speaking engagements and published articles. This could include sharing insights at an alumni event, participating in podcast interviews, offering workshops at conferences, or sitting on panels with industry peers. These platforms provide direct interaction and help establish your authority. You can also contribute to your personal and company's growth by publishing articles on your company’s website, personal LinkedIn page, or in wider publications.
And finally, thought leadership is not a one-and-done strategy; it's an ongoing commitment. Like any business practice, cultivating yourself as a thought leader requires sustained effort and dedication. Despite not offering quick fixes, it is an integral component of any public relations and marketing plan that can propel you and your company to the next level.