Thought Leadership: Positioning Yourself as an Expert in the Marketplace
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The document discusses thought leadership and positioning oneself as an expert in the marketplace. It defines thought leadership as earning trust and credibility by offering unique information, insights, and ideas. Becoming a thought leader positions a company as an industry authority. The presentation outlines how to develop thought leadership by recognizing opportunities in one's industry, developing a unique point of view, and crafting solutions that are novel, relevant, proven, practical, focused, and logically rigorous.
Thought Leadership: Positioning Yourself as an Expert in the Marketplace
- 1. THOUGHT LEADERSHIP POSITIONING YOURSELF AS AN EXPERT IN THE MARKETPLACE DEC 17, 2014 Sheboygan County Chamber
- 2. HI, I’M DANA VANDENHEUVEL ProfessionallyPersonally Socially /in/danavandenheuvel /dvandenheuvel /marketingsavant /vandda /danavan
- 3. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 4. WHAT IS THOUGHT LEADERSHIP? RainToday.com “Thought leadership centers on earning trust and credibility. Thought leaders get no4ced by offering something different—informa6on, insights, and ideas – for instance. Thought leadership posi4ons you and your company as an industry authority and resource and trusted advisor by establishing your reputa4on as a generous contributor to your industry.”
- 5. THOUGHT LEADERSHIP IS A WAY OF BEING - Brian Carroll Author of Lead Generation for the Complex Sale “It’s not about trying to pontificate on how great you are, or just trying to edify yourself. In a lot of ways, it’s truly a way of being. It’s something you can’t say about yourself… it’s really what others say about you.”
- 6. THOUGHT LEADERSHIP IS (ALSO): • Possessing a genuinely innovative insight into what the consumer really wants • Not just being heard in important debates but being able to lead and shape conversations by saying something that matters • Not just appearing in leading publications online and off, but being seen as the go-to source of opinion • Not just thinking and expressing but integrating the thought leadership into new products • Not just marketing but entering adjacent markets Inspired by: http://ngethinktank.com/2011/07/09/the-growth-of-thought-leadership-as-a-marketing-strategy/
- 7. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 8. THOUGHT LEADERSHIP HAS MANY POSITIVE OUTCOMES…AND STANDS UP TO TODAY’S TOUGH BUYING ENVIRONMENT • Coherency out of marketplace chaos • Diminished price resistance • Valid and credible value proposition • Self-qualified leads & opportunities • Shortened sales cycles • Initiates an ongoing market dialogue • Prospects experience your value before buying • Gets buyers invested in your ideas before purchasing • Growth in media placements & requests • Improves search engine find-ability 8 Customers Are Cutting Suppliers Out of Their Learning... Today’s customers are typically 57% of the way through their purchase process before they contact suppliers. Marketing needs to be present where customers are doing the bulk of their learning. Source: Corporate Executive Board
- 9. • There are two types of brand leaders in a category: the market leader and the thought leader. • The thought leader is the one that everyone talks about • Thought leaders innovate through their behavior • Thought leaders choose to break some industry conventions, while rooting themselves in others 9 Source: Morgan, Adam. Eating the Big Fish. New York: John Wiley & Sons, 2009. BECAUSE THOUGHT LEADERSHIP IS THE PATH TO CHOOSE IF YOU’RE NOT THE MARKET LEADER Representation Medium Product & Service Experience Product Performance Neighborhood & Network Relationship Conventions
- 10. BECAUSE THOUGHT LEADERSHIP GETS THE ATTENTION OF TODAY’S BUSINESS BUYER • 9 of the top 11 effective ways of getting a business buyer’s attention involve Thought Leadership Marketing How would you rate the effectiveness of the following marketing vehicles in getting your attention? Mean Rating (N~344) Speech or presentation at a conference or trade show Case studies describing successful customer solution implementations Article in the business or trade press Invitation to a Webinar, seminar, or workshop Sporting or cultural event sponsorship Online advertisement Vendor's blog TV or print advertisement Phone call from a sales representative from the service firm Email from a sales representative from the service firm Direct mail brochure Conference sponsorship Electronic newsletter from the service firm White paper offered on the Internet Search engine hits when doing research or surfing the Web Analyst firm recommendation (such as Gartner/IDC/Forrester) Speech or presentation at a conference or trade show Case studies describing successful customer solution implementations Article in the business or trade press Invitation to a Webinar, seminar, or workshop Sporting or cultural event sponsorship Online advertisement Vendor's blog TV or print advertisement Phone call from a sales representative from the service firm Email from a sales representative from the service firm Direct mail brochure Conference sponsorship Electronic newsletter from the service firm White paper offered on the Internet Search engine hits when doing research or surfing the Web Analyst firm recommendation (such as Gartner/IDC/Forrester) 2.0 2.2 2.3 2.3 2.3 2.3 2.5 2.8 2.9 3.1 3.2 3.3 3.4 3.4 3.7 3.7 Source: ITSMA, How Customers Choose Study, North America þ þ þ þ þ þ þ þ þ
- 11. “Traditional approaches to B2B marketing are losing their impact. Today, B2B marketers are turning to thought leadership marketing as a way to differentiate their organization, products and services in an increasingly competitive market.” “Thought leadership marketing helps to position you as trusted advisor in your industry.” BECAUSE THOUGHT LEADERSHIP WINS THE SALE Source: Economist Intelligence Unit A Cahners Research study of business-to-business buyers shows that selling professionals who become trusted advisors and understand the needs of economic buyers are 69% more likely to come away with a sale.
- 12. BECAUSE MARKETING IS CONVERGING ON THOUGHT LEADERSHIP & INSIGHT SELLING
- 13. BECAUSE OF THE GROWING CHORUS OF TLM ADVOCATES • The Gartner Group cites Thought Leadership Marketing (TLM) as a major business trend that was incubated in high technology and consulting circles but is now rapidly becoming an established field in marketing and a basis of competitive differentiation. • The Economist Intelligence unit identified Thought Leadership Marketing as a top “Megatrend” in B2B marketing. B2B marketers view “positioning the business as a thought leader in the industry” and “standing out from the competition” as top challenges. • A recent analysis by the Corporate Executive Board shows that high value customers like business clients, wealthy individuals or chief financial officers are increasingly demand education and advice as part of the sales experience. • Forrester Research also has ongoing thought leadership research projects.
- 14. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 15. THOUGHT LEADERS ATTAIN THEIR STATUS IN THE MARKET – ONE CANNOT SIMPLY CLAIM THOUGHT LEADERSHIP “Thought leadership is the recogni4on from the outside world that the company deeply understands its business, the needs of its customers and the broader marketplace in which it operates.” Elise Bauer Thought Leadership Intellectual Capital & Content Thought Leadership Execution Resonance Industry Recognition Followership of Ideas Movement of Ideas in the Marketplace
- 16. INDIVIDUAL THOUGHT LEADERS RISE ABOVE THEIR PEERS ON THEIR UNIQUE POINT OF VIEW Competence, purpose and core market understanding inform the point of view & thought leadership platform. Thought leaders outshine their competitors who compete on price and advertising. Strategic use of TLM tools and channels with media collaboration garner your share voice in the industry and spark the industry dialogue around your ideas. As buyers seek out more real market dialogue, SOV is an increasingly important factor contributing to marketplace success. Thought leaders and trusted advisors occupy the greatest share of mind among business buyers. Share of mind predicts share of market. Thought Leadership Marketing steadily increases your SOM with buyers, growing your share of market. HIDDEN TALENT VISIBLE EXPERT
- 17. THOUGHT LEADERS DEVELOP… A THOUGHT LEADER’S MINDSET Love what they do Have the drive to teach Reach out & communicate Take risks with messaging Balance confidence & curiosity Put in the time today Persistent presence Everyone is in Marketing Source: RainToday.com Report on Thought Leadership
- 18. Thought Leadership Opportunity THOUGHT LEADERS RECOGNIZE OPPORTUNITY IN THEIR INDUSTRY Gap in the Conversation • Customers • First-mover • Economic Prediction Opportunity • Where is the market going? • What weaknesses exist? • Shape and shift the dialogue Significant Industry Shift • Trends • Competitors • Technology • Counter-cycle Window of Opportunity • Legislation • First-mover • Economic
- 19. THOUGHT LEADERS DEVELOP AND CURATE A UNIQUE POINT OF VIEW Source: The Bloom Group’s 2006 survey, Attaining Thought Leadership Point of View Novelty Develop a unique problem diagnosis Relevance Meet a specific market need Validity Provide a solution that is proven effective Practicality Demonstrate implement- ation Focus Develop a single, fundamental message Rigor Deliver your TL with tight, consistent logic Clarity Language that resonates with the target By "point of view," we mean demonstrating uncanny insights on a business problem in the world—its impact on companies, what’s driving it, why conventional approaches to solving it fall short. Even more important, a point of view must explain how to solve the problem at hand, with real examples that substantiate the solution. - Bob Buday, The Bloom Group
- 20. DEVELOP A SINGLE FOCUSED MESSAGE • Born of customer-inspired insight. • A strong point of view must have a single, overriding message that can be stated in one or two sentences. • All explanation and evidence should reinforce the main message. • The message should be clear, specific, and intriguing, because of its relevancy and novelty. • It should deliver one or more of the following: – a new way of thinking about an issue, – a new solution to an emerging or existing problem, – a new insight into a trend or phenomenon, – a new set of experiences that reinforce or contradict conventional thinking or practice.
- 21. EXPRESS A NOVEL PROBLEM DIAGNOSIS • A point of view must be unique and break new ground. • To ensure that their ideas are novel, a firm must be thoroughly aware of other points of view on the topic, both those in business and academia. • A novel point of view can address a topic that has been addressed by others (e.g., Sarbanes- Oxley, organizational change management, labor negotiations)—but only if it sheds new light on the nature of the problem and/or the solution. • A new “label” applied to a previously stated problem or solution, new case example of an existing issue, or new statistics underscoring an oft-discussed challenge do not make a point of view novel.
- 22. EXPRESS A SOLUTION WHICH RESONATES WITH RELEVANCE TO YOUR TARGET AUDIENCE • A point of view must meet a critical and specific market need. • It must demonstrate a “case for action.” • The target client must believe they share the problem and that they have to take action now. • If a target audience is unaware of a problem that a firm discusses, the firm must provide solid evidence that the problem exists. • This requires real-life examples, statistics that point to an inescapable trend.
- 23. PUBLISH CONCEPTS THAT ARE PROVEN AND VALID • A firm’s solution must be supported with strong evidence of how the solution works and where it has been used. • This proof must take the form of case studies of organizations that are willing to go public and will vouch for the efficacy of the solution. • If a point of view’s validity cannot be proven conclusively, it is just an interesting theory.
- 24. DEMONSTRATE THE PRACTICALITY OF YOUR IDEAS • A firm must demonstrate that its solution can be implemented. • The point of view must outline and detail the approach, and must demonstrate that the firm knows the biggest barriers to implementing its approach and how to resolve them. A firm must guard against communicating blatantly that its target clients need outside help to adopt the solution. • The difficulty of the problem and the solution— and the insights and experience the firm demonstrates through its point of view—should make it clear to the target audience that it needs assistance.
- 25. CRAFT YOUR SOLUTION WITH RIGOR AND LOGIC • A point of view must have tight, consistent logic throughout. • Assertions must follow from previous assertions, and must be grounded in fact and be defendable. • The logic of the argument must follow the form of problem/solution. • Logic “gaps”— assumptions made by the content experts that may not be held by the target audience—must be filled.
- 26. DELIVER YOUR POINT OF VIEW WITH ABSOLUTE CLARITY • A point of view must be communicated in language and concepts that the target audience understands—not the firm’s language and vernacular. • A point of view can be communicated in a compelling way through the use of such writing devices as analogies, metaphors, anecdotal leads, and hypothetical examples. • The structure of the point of view should be: – statement of problem; – brief statement of solution and benefits of solution; – elaboration of problem; – elaboration of solution (with examples); – challenges to implementing the solution; and – summary/case for taking action now.
- 27. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 28. THOUGHT LEADERSHIP MARKETER: MIRON CONSTRUCTION
- 29. THOUGHT LEADERSHIP MARKETER: PHEEDO • Start the conversation & set the tone for a new industry • First to market with data & expectations • Built on blogging & community • Strong media & speaking presence • Over 50% of growth attributed to TLM activities
- 30. THOUGHT LEADERSHIP CATALYST: THE PHEEDO PHEED READ REPORT • Created “industry first” data, reports and research • Generated over 2000 media men:ons, 20 analyst calls, 70 speaking engagements and over $1M in new business • Thought leadership posi:on is s:ll unmatched by compe:tors today • Secured stories in WSJ, NY Times, Ad Week, Ad Age, Business 2.0, and over 25 other major press hits in just 2 mos.
- 32. THOUGHT LEADERSHIP MARKETER: LIFEMEETSWORK.COM • Startup company successfully launched using thought leadership principles • Executed full 12 month social media & thought leadership plan • Chosen by Deloitte and Sara Lee to lead a Flex Work roundtable session & research project
- 33. LIFE MEETS WORK WORK/LIFE ISSUES RESEARCH REPORT • Take a thought leadership posi:on during Na4onal Work & Family Month • Industry wide survey that reached the top work-‐ life Fortune 500 leaders • Used to influence pending work/life legisla:on (gathered support from direct compe:tors) • Garnered over 100 media men:ons • Generated over 140 new leads for LMW services Thought Leadership Toolkit ü Research survey ü Whitepaper ü Media rela:ons ü Blogger rela:ons ü Webinar ü Lead follow-‐up and nurturing
- 34. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 35. PUBLISH CONTENT IN MANY FORMS
- 36. CONTENT THAT WORKS! FINDING CONTENT THAT WORKS – THE CHALLENGE THAT PLAGUES ALL THOUGHT LEADERSHIP EFFORTS 36 x What your brand can say to move consumers closer What consumers want to hear from your brand BRANDS THAT HAVE NOT GIVEN PEOPLE A REASON TO CARE IN THE REAL WORLD CANNOT DO SO ONLINE 71% OF MILLENNIALS WOULD RATHER GO TO THE DENTIST THAN LISTEN TO WHAT THEIR BANKS ARE SAYING. – SCRATCH/VIACOM, 3/14 § Awareness § Consideration § Purchase Intent § Purchase § Inbound Traffic DIFFERENTIATION CATEGORY
- 37. USE THE THOUGHT LEADER’S TOOLKIT
- 38. GET YOUR ENTIRE ORGANIZATION INVOLVED IN CONTENT CREATION • Content has emerged as the centerpiece of most companies’ customer engagement efforts • Due to the rise of lead nurturing programs, blogging and social media, search optimization, emphasis on providing richer user experiences, and consultative selling methodologies • “Content still seems to be everyone’s job and no one’s job.” 38
- 39. USE YOUR COMPLETE, CORRECT AND ACTIVE LINKEDIN PROFILE 1 2 3 4 5
- 40. AN EFFECTIVE LINKEDIN MARKETING APPROACH BEGINS WITH USEFUL AND SHAREABLE NATIVE CONTENT 40 Recommended LinkedIn Content • Articles • Blogs/micro-blogs • Case studies • Links to digital videos • E-newsletters (link to) • Illustrations and graphics • Industry events/trade shows • Infographics • Product demonstrations • Slide decks/presentations • Soundbites/comments in social media • Web copy (core and microsites) • Web-based tools/applications • Webinars • White papers/research reports/ e-books Content must match the context: keep it professional, helpful, and aspiraOonal. Display Ads (3 sizes) Text Ads Company Updates Develop a content calendar to share your best content Sponsored Updates “Boost” your best content from the newsfeed Direct Sponsored Content Content that won’t show up on the company page, but will show in target prospect news feeds Links to YouTube Videos * Video links play directly in the feed
- 41. www.marketingsavant.com 888.989.7771The MarketingSavant CONNECT WITH THOUGHT FOLLOWERS • Track who is looking at your profile, then research those people and their companies in more depth • Follow-up with a connection request, phone call, e-mail or InMail
- 42. SHARE ARTICLES FROM YOUR BLOG • Share with your LinkedIn connections • Email to your prospects and clients • Contribute to industry forums • Print out for your next client visit
- 43. CURATE INSIGHTS FROM INDUSTRY SOURCES • Use in status updates to LinkedIn • Send links to your network • Share in LinkedIn Groups • Share on other social media profiles
- 44. • WHAT IS THOUGHT LEADERSHIP MARKETING? • WHY BECOME A THOUGHT LEADER? • HOW DO WE BECOME A THOUGHT LEADER? • HOW HAVE OTHERS USED THOUGHT LEADERSHIP? • ACTIVATING THOUGHT LEADERSHIP • THOUGHT LEADERSHIP SELF-ASSESSMENT PRESENTATION ROADMAP
- 45. DOES YOUR THOUGHT LEADERSHIP EMBODY BOLD ATTRIBUTES? • To assess the strength of your thought leadership position, place a 1 in each box that you feel you have achieved. • If you score below a 7, your thought leadership efforts will not have the strength to drive business and your brand. • Strengthen your position on the missing attributes and rescore. 45Source: Forrester Research, Inc.
- 46. HAVE YOU CONSIDERED AN ONLINESS STATEMENT? The Onliness Statement distinguishes your organization from every other organization. It is a positioning statement that says what you do and for whom, and what makes it unique. Onliness Our brand is… Harley Davidson is… What: The only (category) The only motorcycle manufacturer How: that (differentiation characteristic) that makes big, loud motorcycles Who: for (customer) for macho guys (and “macho wannabes”) Where: in (market geography) mostly in the US Why: who (need state) who want to join a gang of cowboys When: during (underlying trend) in an era of decreasing personal freedom.
- 47. "OUR BRAND IS THE ONLY _____ THAT ______." 47 What: The only (category) How: that (differentiation) Who: for (customer) Where: in (market/ geography) Why: who (need state) When: during (underlying trend) What:_________________ How:__________________ Who:__________________ Where:________________ Why:__________________ When:_________________
- 48. WANT TO LEARN MORE? TRY THESE THOUGHT LEADERSHIP MARKETING RESOURCES • The Pyramid Principle, Barbara Minto • Get Slightly Famous, Steven Van Yoder • Sustainable Thought Leadership, Sari Aapola • Brand Stand, Craig Badings • Thoughts on Thought Leadership, Robert Buday and Bernie Thiel • Value Forward Marketing, Paul R. DiModica • The Challenger Sale, CEB • The Trusted Advisor, David Maister • How to Become a Thought Leader, RainToday.com