Chris Koch over at ITSMA (the IT Services Marketing Association) suggests that “Thought Leadership is Dead“. While I wouldn’t go that far (indeed many professional services firms are still producing high quality, research based content that would meet the standard of thought leadership) I certainly agree that the term “thought leadership” has been used and abused.
The “problem” with thought leadership stems from the diversity of content that professional services firms publish and how that content informs, educates and engages clients and prospects. Firms produce newsletters, client alerts, white papers, research studies, podcasts as well as share insights and expertise via conference speaking, webcasts and through the media. This activity covers a wide range of topics from a variety of perspectives. The majority of this content is almost certainly not thought leadership. But that doesn’t mean that those activities aren’t worthwhile.
Firms can provide value to their clients and prospects in a number of ways, such as:
- keeping them up to date on news and developments relevant to their business and roles
- helping them understand the implications of those developments and suggesting potential courses of action
- sharing their insights and expertise on handling other issues and challenges that arise in the regular course of business
This material will rarely be cutting edge. It may be relaying information that is readily available elsewhere and providing guidance that is accepted wisdom or simply good practice. Clients and prospects may be receiving similar content from competing firms. But this information still plays a useful role as a resource for clients and prospects as well as reminding them that you have the knowledge and expertise to help when the need arises.
Thought leadership moves beyond this by using original research, analysis or perspectives to generate new thinking on a topic or issue. It should stimulate clients thinking by challenging their assumptions and helping them to see issues in a new light. Ideally it will trigger a conversation – but as a minimum it should register your firm as thought leaders in the minds of clients.
So thought leadership, when done right, can play a vital role in building client relationships and growing the reputation of the firm. But thought leadership should be recognized as a component of the client relationship and marketing process not some kind of higher plane that if attained obviates the need for “lower” level activities. Firms should resist the temptation to badge everything they produce as thought leadership (muddying the waters for true thought leadership) and recognize there is also client value in the “blocking and tackling” fundamentals of producing client focused content.
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