Thursday, 9 May 2024

Thought Leadership: am I a Thought Leader?

I hesitate to write on demand. And professional children, specifically the Marketing variety, use tricks to make me write. One of them recently called up and suggested I write on a topic technical in nature which can be said to be covered broadly under subjects grouped as Humanities. I have never studied any of those subjects.

She tried to pump me up explaining the phenomenon of 'Thought Leadership' and convincing me that I am a Thought Leader. She educated me that "Thought Leaders don't just regurgitate existing information. They challenge the status quo and offer fresh perspectives. This can influence how people think about entire industries, potentially leading to positive change." She further informed that "Thought Leadership has become a much bigger buzzword in recent years".

"Thought Leadership attracts people interested in the ideas being presented. This can be a great way to generate leads and connect with potential customers who are already halfway down the buying journey" she cajoled me.

When challenged she provided evidences and said "a recent survey found that 65% of buyers said Thought Leadership content improved their perception of a company."

I thought (did I? , can I?) what is new in this development? Philosophers, scientists, and scholars have played a Thought Leadership role throughout history. Their ideas and writings challenged contemperory thinking and shaped societal progress.

She said "the phenomenon may not be entirely new" and gave me timeline. She said "The term "Thought Leader" is coined by Joel Kurtzman, editor-in-chief of Strategy & Business magazine in 1994, to describe individuals with deep industry understanding and unique perspectives. The concept gained traction as companies leveraged thought leadership for brand building and establishing expertise. The internet and social media revolutionized Thought Leadership, as content became more accessible and interactive, allowing for wider reach and deeper audience engagement."

I was yielding, but still thought (again?) even if Thought Leadership may be a successful experiment for businesses and organizations and may help in providing valuable insights to society while building trust and attracting new customers, is it not that like any strategy, it needs to be done well? Is it not that Thought Leadership which is viewed by potential customers as 'self-serving' or 'inauthentic' can backfire?

I was convinced that Thought Leadership needs a strategic approach to be effective and looked for some do's and don'ts to guide development of the strategy and could find following advice:

"Do:
• Focus on value, not sales: People are looking for insights and solutions, not just product pitches. Provide genuine expertise and fresh perspectives on industry trends.
• Identify your niche: Don't try to be everything to everyone. Sharpen your focus on a specific area of expertise where you can establish yourself as a true authority.
• Become a multi-platform storyteller: Use a variety of media formats like blog posts, articles, podcasts, videos, or even webinars to reach your target audience where they consume information.
• Engage with your audience: Encourage discussion and feedback on your content. Respond to comments, participate in industry forums, and build relationships with your readers or viewers.

Don't:
• Just brag about yourself: Thought leadership isn't about self-promotion. Focus on offering valuable insights, not just highlighting your company's accomplishments.
• Neglect quality: Invest in creating high-quality content that is well-researched, informative, and engaging.
• Be afraid to challenge the status quo: Thought leaders bring fresh perspectives. Don't be afraid to question conventional wisdom and present new ideas.
• Disappear after publishing: Content creation is just one step. Promote your content, distribute it widely, and actively engage with your audience.

By following these guidelines, you can design a Thought Leadership strategy that positions you as a trusted authority, attracts new customers, and benefits your industry as a whole."

Now I need to introspect and decide "am I a Thought Leader?"

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