In today’s rapidly evolving business landscape, where expertise is abundant and competition is fierce, standing out as an Organisation, brand or consultant demands more than just knowledge and experience. It requires a strategic approach to establish oneself as a trusted authority in the field. This is where the concept of ‘Thought Leadership Positioning’ comes into play, serving as a powerful tool for Organisations, brands or consultants to differentiate themselves, build credibility, and drive success.
Defining thought leadership
In their 2021 study titled, The Tensions of Defining and Developing Thought Leadership Within Knowledge – Intensive Firms’, scholars William S. Harvey, Vince-Wayne Mitchell, Alessandra Almeida Jones, and Eric Knight from various esteemed institutions redefined thought leadership based on their comprehensive analysis and synthesis of existing perspectives. They propose the following refined definition:
“Thought leadership is characterised by knowledge emanating from a trusted, eminent, and authoritative source. It is distinguished by its actionable nature, offering valuable solutions tailored to stakeholders’ needs and challenges”.
This definition encapsulates the essence of thought leadership as a conduit for valuable insights and solutions, grounded in credibility and geared towards practical application in diverse contexts.
Therefore, thought leadership positioning goes beyond traditional marketing tactics. It involves establishing oneself as a trusted expert within a specific niche or industry by consistently sharing valuable insights, innovative ideas, and solutions to pressing industry challenges. It’s about becoming a go-to resource for both peers and clients, offering thought-provoking perspectives and guidance that shape the conversation within the industry.
The vital role of thought leadership
- Building trust and credibility
In a world inundated with information, trust is paramount so much so that 65 per cent of consumers in a study by Edelman says they trust industry experts which shows that thought leadership a powerful tool for building trust and credibility. Thought leadership positioning does not only enable consultants to showcases their expertise and value but also help them to position themselves as trusted advisors rather than just service providers.
- Driving brand visibility and recognition
Thought leadership positioning also plays a crucial role in increasing brand visibility and recognition. By actively participating in industry conversations, publishing articles, speaking at conferences, and engaging with the community, consultants can elevate their profile and expand their reach. This heightened visibility not only attracts potential clients but also opens doors to new opportunities such as partnerships, speaking engagements, and media features. According to LinkedIn, 91 per cent of business decision-makers stated that they valued thought leadership contents. This underscores its significance in driving brand visibility and recognition.
- Differentiating from the competition
In a crowded marketplace, differentiation is key to success. Thought leadership positioning allows organisations, brands and consultants to carve out a unique identity and differentiate themselves from competitors. By showcasing their unique perspectives, insights, and methodologies, consultants can create a compelling value proposition that resonates with their target audience. This differentiation not only helps attract customers or clients but also fosters long-term loyalty by demonstrating the consultant’s ability to offer distinctive solutions to their clients’ needs.
Seye, an event management specialist, sought to differentiate herself in a competitive industry. With our assistance, we designed a thought leadership strategy that enabled her to share her expertise through content creation, speaking engagements, and networking. This initiative elevated her brand visibility and credibility, leading to a notable increase in inbound leads and the acquisition of multiple partnership opportunities. Seye’s success underscores the transformative power of thought leadership in driving growth and recognition within the event management sector.
- Driving business growth and opportunities
Ultimately, thought leadership positioning directly impacts a consultant’s bottom line by driving business growth and creating new opportunities. By positioning themselves as trusted experts, consultants can command higher fees, win more projects, and secure long-term partnerships. Additionally, thought leadership can lead to opportunities for collaboration, joint ventures, and speaking engagements, further expanding the consultant’s influence and network.
The 2018 Edelman-LinkedIn B2B Thought Leadership Impact Study, which surveyed 1,200 United States business decision-makers, content creators, marketers, and sales professionals, revealed an intriguing trend: For instance,
- Over half of respondents (55 per cent) reported using thought leadership to evaluate organizations they might engage with.
- 47 per cent of C-suite executives shared their contact information after engaging with thought leadership content.
- 45 per cent of decision-makers extended invitations to thought leadership content producers to bid on projects, even if they hadn’t previously considered the organization.
- And remarkably, nearly 60 per cent of business decision-makers attributed their choice of engaging with an organization directly to thought leadership.
- Despite some skepticism among sellers,39% of them still said they believe thought leadership helps with lead generation.
The study underscores the significant influence and value that thought leadership holds in shaping business decisions and relationships.
Despite its proven ability to drive business, the 2024 Edelman-LinkedIn B2B Thought Leadership Impact Study exposes some hardcore truth about the ineffectiveness of ogranisations and consultants in creating or using thought leadership contents. According to this 2024 report only a mere 15 per cent of thought leadership contents are regarded as truly exceptional. The barriers highlighted by thought leadership producers for this failure according to this report include insufficient resources, lack of internal engagement with senior talent such as subject matter experts, and a lack of skills for producing high quality content. What other factors do you think are impeding exceptional thought leadership content? Share your thoughts with me via ishopr2015@gmail.com
In today’s competitive landscape, investing in thought leadership is not merely a strategic choice, it is a fundamental necessity for survival in a crowded digital ecosystem. The reward is very high as a staggering 86 per cent of global B2B buyers in the 2024 Edelman-LinkedIn report say they are likely to invite thought leadership-producing organizations to RFPs.
Consequently, by committing resources, even if it means enlisting expert help, organizations and consultants position themselves as beacons of credibility amidst a sea of mediocrity. In a world inundated with content, it is those who invest in thought leadership that emerge as the trusted advisors, forging stronger relationships and loyalty among existing customers or clients as well as unlocking new avenues of business growth.
Ayodele is a distinguished and multiple award-winning strategic communication expert who specializes in ‘Message Engineering’. He helps organisations, brands and leaders communicate in a way that yields the desired outcome. He is the author of the seminal work, PR Case Studies; Mastering the Trade, and Dean, the School of Impactful Communication. He can be reached via ishopr2015@gmail.com or +234 807 793 2282
