Developing a reputation as a thought leader in your respective industry is one of the most difficult yet valuable endeavors a marketer/business executive can undertake. The reason being is that it requires a strategic approach that convinces industry leaders and customers that you are an authority and a go-to resource for information in your field.
The importance of thought leadership is no secret, but making the case for its investment, determining long-term ROI, and most importantly, understanding its impact on your buyer's journey can be difficult.
So, let's break down exactly what thought leadership is and how it fits into the buyer's journey.
Thought leadership refers to the expression of ideas that demonstrate expertise in a particular field or topic. The buyer's journey, on the other hand, refers to the process of a prospective buyer's path to making a purchase.
The awareness phase is when a prospective buyer has just discovered they have a problem and are now in the process of researching to better understand what their problem is.
Thought leadership's role in the awareness phase of the buyer's journey comes into play when the content produced by a marketer, names and clearly defines a potential buyer's problem.
The consideration phase is when the buyer has defined the issue (giving the problem a name) and commits to researching, understanding, and considering all viable options to solve said problem.
Thought leadership's role in the consideration phase of the buyer's journey comes into play when the content produced by a marketer breaks down the buyer's problem and presents reliable solutions for the said buyer to consider.
The decision phase is when a potential buyer has decided on their approach to resolving their issue by, for example, collecting a list of potential products or vendors to go with. Once the buyer has reviewed all their options, the last step would be to make a purchasing decision.
Thought leadership's role in the decision phase of the buyer's journey comes into play when the content produced by a marketer provides information on where to obtain the solutions suggested.
Thought leadership is one of the most important marketing tactics a brand can use to help achieve company objectives. The benefits of incorporating thought leadership efforts can not only help guide prospective customers down a sales funnel, but:
Justifying the cost of thought leadership tactics on the surface may seem like a daunting task, but once you understand and can articulate the benefits associated, selling the idea to higher-ups in your company is a breeze. Here are 5 stats to help convince your C-suite to implement thought leadership efforts.
The benefits of an organization's thought leadership efforts can have a profoundly positive impact if the strategy is executed properly, and the statistics prove it.
For brands in need of help on their journey to becoming thought leaders, consider employing the services of Layup Content today.