What is Thought Leadership and Does it Work?
I’m a bit of an old-school PR professional and love those academic PR tactics of decades past. One of those tactics used to be called “expert positioning.” It was essentially just what it sounds like - positioning someone as an expert. Today, this concept has really morphed into thought leadership (a bit of an overused term IMHO).
At MindBody PR , we do a lot of thought leadership for our clients. If it’s done right, it can be a very powerful brand building tool that translates to sales. The objective of thought leadership is to share a little bit of interesting industry knowledge and intellectual capital (without giving away any trade secrets) that will resonate with your audience.
Here’s an example: if you’re a CBD brand focused on skincare, you’ll want to share some high level thoughts on product formulation that make your product superior to others - perhaps it’s your nanotechnology of ingredient infusion, your fierce third party testing process, or your sourcing secrets on organic ingredients.
Again, you don’t want to give away your actual trade secrets, but sharing your knowledge for these types of topics shows that you know your stuff and that you’re an expert in your industry. If you’re a cannabis testing lab, perhaps you want to share your knowledge of why products fail testing or which states are setting the standard in testing and why.
Don’t share the mundane. Share the “Wow, I didn’t know that” facts.
Why It’s Important
When done right, thought leadership can build credibility and customer loyalty. It keeps your name and your brand’s in the news and top of mind, which can be especially important for fundraising and capital campaigns. For the executive, being a thought leader also opens doors to industry opportunities like sitting on association committees and being nominated for industry awards.
How Thought Leadership Works
A successful thought leadership campaign relies on two things: content and relationships. For content, you’ll want to pitch and expound on key industry issues, especially those that are timely like pressing or breaking news issues. If you’re pitching a journalist, maintaining ongoing relationships, either on your own or through your publicist (plug) is important. I often find that when reporters are working on industry stories, they’ll call me looking for a quote or interview on the subject from a client. LinkedIn is proving to be an important thought leadership platform many industries but it’s not just about posting, it’s about engaging like-minded individuals to share their expertise as well.
Check out our public relations campaign examples!