I’ve recently been working with a client on a series of “thought leadership” white papers. They have a lot of great, innovative ideas, but when I ask for case studies and proof points to prove their ideas work, they often come up short.
My research uncovered an excellent post from Candyce Edelen, the CEO and founder of content marketing firm Propel Growth, who said she’s run into the same issue in the financial services market.
She argues content marketing and thought leadership are two different things. Content marketing, she says, helps prospects understand their existing needs, build awareness of the benefits of what you sell, and driving sales of what exists today. (Emphasis added.)
Thought leadership, on the other hand, is about “being a longer-term change agent, building awareness of unrecognized needs and generating demand for what’s coming in 12-18 months.” She cited the example of a financial services firm that coined the term “naked access” in 2007 to describe the practice of allowing high-speed computerized stock trades without the proper filtering or checks.
The firm “launched an extensive content and PR campaign…They wrote about the topic, educated the press, and spoke at industry events. They even encouraged competitors to jump on the campaign to push for regulatory reform.” But it wasn’t until late 2010 that the SEC recognized the issue and took action.
I deal all the time with technology and services vendors who say they want “thought leadership” but lack the details to back it up. Especially in large organizations, a call for experts to develop “thought leadership” can produce intriguing, academic-sounding approaches they think might work but have never proven.
The Three Musts
The three things it really takes to produce “thought leadership” are:
- Prove Your Theory: Nobody cares if it doesn’t get results and has been proven to work. Getting it wrong with your high-blown forecasts or “paradigm-changing” insights can be worse than staying quiet.
- Keep At It: It ain’t thought leadership if you only talk about it when it springs to mind. Be consistent. Note how long the financial services firm had to fight to get its message out, amid initial skepticism from regulatory authorities and others. It takes time, money and effort to keep shouting into the wind. Make sure it’s worthwhile and you have the commitment of those who hold the purse strings and have the loudest voices.
- Focus: This means two things. First, make the tough choice to put most of your limited time and money into your true insights rather than the “just interesting” musings on industry trends. Second, determine what are the “next steps” you want your audience to take after reading your content. Is it downloading a gated white paper? Subscribing to an email newsletter? Or sitting through a demo?
Random efforts produce random results. You can pay me or another copywriter to whip some so-so naval-gazing into something readable now and then. Or, you can get more bang for your buck by proving what you’re claiming, committing to pushing it for the long haul, and focusing on the revenue-producing next steps you want your readers to take.
Filed under: Content Marketing
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