Thought leadership marketing is not a new concept, but the importance of it in the B2B sector continues to grow at a rapid pace.
More and more, suppliers are getting ahead of the sales process by making themselves known in the marketplace and facilitating conversation, which in turn leads to customers contacting them — rather than the other way around.
Effective thought leadership marketing (TLM) provides potential customers with information or advice that is useful to them, which:
— Makes customers aware of who you are, what you do, and how you add value
— Demonstrates (rather than simply states) that your company is an expert and leader in your industry
— Illustrates that your company understands and can address the specific needs of the potential customer
TLM can come in the form of a blog post, a newsletter, a speaking engagement, or a webcast, to name a few. Again, the key is to provide information or advice that’s useful to potential customers and, when possible, breaks new ground in the industry. Straight self-promotion that doesn’t provide the customer any value or insight is not thought leadership marketing.
The ultimate goal is to reach the point where customers view your company as a trusted adviser. The term “trusted adviser” is talked about a lot these days in business circles, but don’t mistake it for simple jargon. The data shows that “trusted adviser” is an enviable position for a business to be in.
A recent study published in the MIT Sloan Management Review reveals that customers that gain insight from an organization through thought leadership content exhibit higher loyalty scores, place greater value on the organization’s complete suite of services, and ultimately value the shared wisdom of the supplier as part of the overall value equation.
Thought leaders and trusted advisors begin to benefit from “pull marketing,” which means they increasingly are sought out by companies who want to do business with them because of their ideas, willingness to share, and transparency. In the RainToday.com publication, How To Become A Thought Leader, several interviewees attest to having seen their recognition in the industry increase, their “push marketing” expenses drop, and their revenue grow as a result of thought leadership.
Even when there is some direct selling to be done, companies that have earned trusted advisor status are at a huge advantage. In his 2006 book Lead Generation for the Complex Sale, Brian Carroll discusses a research report that revealed that salespeople who had reached the status of “trusted adviser” were 70 percent more likely to come away with a sale.
Add it all up, and it’s clear that thought leadership marketing is a wise move for just about any B2B supplier.
To borrow a quote from former presidential speechwriter James Humes: “The art of communication is the language of leadership.”
Image credit: clevelandleader.com