How thought leadership can boost your business
A thought leader is defined as “an expert on a particular subject whose ideas and opinions influence other people, especially in business.” But, while influence is inherent to the concept of thought leadership, a “thought leader” is not simply corporate-speak for “influencer,” and thought leadership can offer business a lot more value than simply gaining followers on social media.
The benefits of thought leadership for business:
- Thought leadership boosts trust in your brand
According to some industry experts, the increase in trust can have a dramatic impact on the sales conversion funnel, with approximately 50% of consumers reporting engagement with thought leadership content as part of their decision-making process. - Thought leadership boosts your brand presence and influence
Thought leadership is a particularly effective form of content marketing for driving website traffic and increasing customer engagement. Creating unique, original, and valuable content confers authority on your brand – both in the eyes of consumers, as well as major platforms for discovery such as Google Search and website backlinks. - Thought leadership can help focus and refine your brand’s offering and value proposition
Producing quality thought leadership content requires extensive research, expert insights, and innovative thinking. It also requires focus on a specific area or topic, which in turn can help a brand to further refine exactly what they can offer and where their strengths lie. - Thought leadership can help your business attract top talent
Being known as a leader in your chosen field can give your company the edge when it comes to hiring, as well as inspiring current employees to develop their potential and become experts themselves.
How to become a thought leader
Thought leadership is usually not something that modern businesses undertake coincidentally; it’s a strategic undertaking that requires planning, focus and implementation to be effective.
The basic steps to follow in a thought leadership strategy are:
- Identify your area of expertise.
- Identify your audience.
- Conduct market research.
- Identify your thought leaders.
- Create your content.
- Distribute your content.
- Measure the results.
When it comes to supporting business, Standard Bank is proud to offer expert insights, analysis and practical advice throughout the BizConnect portal, as well as the innovative banking solutions that inspire businesses to become industry leaders.