Thought leadership content has demonstrated effectiveness at positioning an organization, attracting key audiences, and helping to build the marketing and sales funnel. But companies should not jump into thought leadership strategies without thoughtful consideration of how they will manage and maintain the program. Since this is a new approach for many organizations, I am outlining the 5 biggest mistakes I’ve seen in thought leadership implementation, so that you can avoid them.
1. An organization thinks they must be perfect in their focus area, in order to talk about it.
They should have unique insight but they can also be working on this area as well. Let’s say the issue or topic was consumer digital privacy; this topic continues to evolve as there are new regulations or new approaches to monetization. The company should have a point of view, but they do not need to have all the answers. In fact, if a company has all of the answers, perhaps it is not a good fit for thought leadership; if something is solved or resolved, it’s not particularly interesting or worth discussing.
Here's a simple example; Fortune Magazine publishes the Best Employers to Work For list annually but Fortune Media Holdings does not top the list. This year’s list is headed by Cisco Systems, followed by Hilton. This does not stop Fortune from publishing the list and describing what companies can do to be better at attracting and retaining top-tier talent.
2. The topic or perspective is not unique or provocative.
Piling on an established topic is not thought leadership. Your organization needs to bring new insights to the discussion, or make a stand.
Areas that are rapidly evolving make interesting topics. Here are some examples:
· The implications on Web3 for brands and actions they should take now
· Preventing supply chain disruptions moving forward
· How block chain will impact your industry
· Reducing the risk of inequity to employees in a hybrid work environment
· How pandemic anxiety is affecting working parents and how companies can support them
A statement of “mental health is important” is less interesting than a statement that mental health services deserve equivalent access as medical health services, or that mental health services should be de-stigmatized in the workplace. It is important, however, that the organization is ready to incorporate that perspective, not just “talk the talk.”
For example, back in 2016, the American Medical Association decreed that gun violence is a public health crisis. This is a bold statement for the AMA to make, and it was based on their unique perspective of seeing the impact on health in the US, including suicide. They further made statements of support for a waiting period before purchasing a firearm. They defined health not just as what they see in hospitals but as harm that can be prevented as well.
An organization should take a perspective or point of view, even if unpopular with some, on their topic of interest. It may be, like the AMA, a rallying cry for change.
3. There are limited voices (speakers) on a topic
If there is only one person in your organization that can speak to a topic, it limits the potential for engagement there. The individual likely has a role in policy, operations, R&D or other areas, and has limited time for the content, speakerships, or other demands associated with thought leaders.
The solution is to ensure that the thought leadership topic is part of the corporate narrative. Depending on the company size, there can be several angles to the topic that several leaders could speak to. For example, implications on operations, people management, facilities, staffing levels, or investments.
A robust content calendar, speakers bureau, message framework, talking points, and media training are important for multiple speakers to carry the messages.
However, if there is just one voice to carry the message, it is important to ensure that this individual has the capacity, interest, and engagement to make this successful.
4. It’s not aligned with the corporate narrative or not coming from a place of relevance or credibility
If thought leadership is not aligned with the corporate narrative or message framework, it will have less of an impact. If it does not seem credible for the company to talk about these topics, it is worse than doing nothing at all. For example, oil companies that talk about sustainability on Earth Day are often mocked on social media. It needs to be aligned and sincere to be effective.
Research with the target audience may help to narrow or focus the thought leadership topics and confirm whether it enhances the perception of the company by the audience.
5. A short term approach and limited resources
Building a thought leadership strategy requires time and dedication.
At one company, we worked with a social agency to support much of our content and met weekly on strategy and results, then content was reviewed each week before publishing.
A robust thought leadership program can pay dividends, but it can be a long-term investment in the people doing the work, as well as sponsorships, travel and entertainment, and content development.
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