Thought Leadership as a Marketing Strategy

One marketing strategy that hinges on our ever-expanding digital capacities is Thought Leadership.

If you rolled your eyes at the very term "Thought Leadership," you are not alone. The term has been criticized for years: It won Forbes' 2013 "Business Jargon Bracketology" tournament for most annoying business cliche, and, also in 2013, David Brooks lambasted Thought Leaders themselves in the New York Times:

As a college student, the future Thought Leader is bathed in attention. His college application essay, “I Went to Panama to Teach the Natives About Math but They Ended Up Teaching Me About Life,” is widely praised by guidance counselors. On campus he finds himself enmeshed in a new social contract: Young people provide their middle-aged professors with optimism and flattery, and the professors provide them with grade inflation. He is widely recognized for his concern for humanity. (He spends spring break unicycling across Thailand while reading to lepers.) (Opinion | The Thought Leader, New York Times, 2013)

But whether you think Thought Leadership is baloney or not, a recent study by Edelman and LinkedIn shows that Thought Leadership can be an effective marketing tool -- which means it's not likely to go away any time soon.

In the 2019/20 Edelman-LinkedIn B2B Thought Leadership Impact Study, their research shows that, "...B2B Decision-Makers are spending meaningful time consuming Thought Leadership content that, when done well, can significantly influence brand perception and buying behaviors." For the purpose of this survey and study, thought leadership refers to published essays, videos, webinars and other presentations, and more, all of which would not be as readily accessible to current and potential customers without our growing digital capabilities.

Three particularly compelling highlights from the data are:

• 89% of the survey respondents said Thought Leadership has enhanced their perceptions of an organization
• 48% of Purchasing Decision-Makers surveyed spend an hour or more per week engaged with Thought Leadership content
• 49% said Thought Leadership content influences their purchasing decisions

With numbers like that to reckon with, it's easy to understand why digital, content-driven marketing strategies are trendy for 2020. Looking forward, it's hard to think that any organization won't have to hire video production crews or ghostwriters to create content that will engage new customers, whether B2B or B2C. 

Since Thought Leadership isn't going away, to my mind, the real challenge in this space for organizations will be to avoid creating belabored, obnoxious Thought Leadership content that David Brooks would grimace at; rather, they'll have to focus on content that communicates a company's brand and mission effectively and honestly. If Edelman and LinkedIn are to be believed, doing so could significantly increase customer engagement and sales longer-term.