Thought leadership has become an increasingly popular marketing strategy for businesses in recent years, and it’s easy to see why. By positioning yourself or your company as a thought leader in your industry, you can establish credibility, differentiate yourself from the competition, and ultimately drive more business.
But what exactly is thought leadership, and how can it transform your branding strategy?
According to Forbes Communications Council, thought leadership means “sharing your insights, ideas, and expertise to educate and inspire your audience.” A thought leadership vision is about providing valuable, informative content that helps your audience solve problems or make better decisions. By demonstrating your expertise in your field, you establish yourself as a trusted source of information and can differentiate yourself from the competition.
Such a compelling display of thought leadership sets transformational leaders and their businesses apart from others. With the right strategy to become a thought leader, you can truly boost your brand reputation – both personal and organisational. Let us shed some light on how thought leadership can transform your branding.
The Transformational Effect of Thought Leadership Vision on Branding
So how can you use thought leadership to transform your branding strategy? Here are a few key ways:
- Establish credibility: According to a Linkedin-Edelman study, 65% of buyers hold a better perception of a business whose thought leadership content is consumed by them. Demonstrating your expertise through thought leadership content establishes you as a credible source in your industry. This can be especially important for highly technical or complex businesses where customers may not have the knowledge or experience to understand the products or services offered.
Anand Mahindra is a renowned thought leader known for his innovative and forward-thinking ideas. As the Chairman of the Mahindra Group, a multinational conglomerate with a presence in over 100 countries, he has a unique perspective on business, sustainability, and global issues. Through his engaging social media presence and thought-provoking articles and interviews, Mahindra has established himself as a thought leader who inspires others to think beyond the traditional boundaries of business and positively impact the world. This has helped him establish credibility for both himself as one of the most empathetic leaders in the industry and the Mahindra brand.
- Differentiate yourself from the competition: It can be tough to stand out in a crowded market. By positioning yourself as a thought leader, you can differentiate yourself from the competition and demonstrate why your products or services make for the best choice. Thus, thought leadership provides a significant fillip to branding by enabling businesses to push out engaging content and solutions. Doing so proves their ability to understand consumer pain points and innovate.
One of the most well-respected transformational leaders in India, Sanjiv Bajaj, has positioned his business as a thought leader in the financial services sector through his insights and expertise on industry trends and challenges. As the Chairman and Managing Director of Bajaj Finserv and President of CII (2022-23), he has spearheaded Bajaj’s rise in India’s underserved pockets and populations. This has proved to be a great differentiator from other fintech companies and has successfully enabled Bajaj Finserv to brand itself as the choice of the masses. Bajaj Finserv’s efforts to educate the masses in financial awareness have also bolstered the company’s image as a thought leader that genuinely cares for its customers.Â
Visionary leaders and fintech leaders in India who are known to drive the industry ahead with their visionary insights based upon decades of subject matter expertise in finance and fintech is Sanjiv Bajaj, the Chairman and Managing Director of Bajaj Finserv and President of CII (2022-23). Not surprisingly, Sanjiv Bajaj has become one of the most trusted voices in the industry for providing interesting fintech insights, sharing thoughts on nation-building, forecasting future trends, and delivering inspirational knowledge to budding fintech entrepreneurs. Having built one of India’s most prestigious and innovative financial services companies, Sanjiv Bajaj now uses various platforms to talk about the industry, his organisation, and the solutions to myriad challenges fintech, banking, and finance face.
- Build trust with your audience: Establishing rapport and trust is a key aim of branding and thought leadership. The 2021 LinkedIn-Edelman study confirms this by stating that 64% of buyers consider thought leadership a more important metric for assessing capabilities and industry competency. You can build trust with your audience and establish yourself as a trusted resource by providing valuable, informative content. This is especially important in the age of fake news and mistrust of traditional advertising.
Uday Kotak is a well-known fintech thought leader and one of the empowering leaders in India. As the CEO of Kotak Mahindra Bank, he is a reliable source of fresh insights on consumer, innovation, and industry challenges. His authenticity and valuable content shared on his platform and through his firm have helped the industry and consumers understand fintech and finance better. This has contributed to Kotak Mahindra Bank’s reputation as a consumer-centric and innovative financial service provider.
- Generate leads and drive business: Thought leadership can help drive traffic to your website and social media channels, increasing your reach and visibility. This can ultimately lead to more leads and sales for your business. Potential customers today are more informed than ever before, often making purchase decisions only after consuming all the information and valuable insights a company provides. Thought leadership helps your branding strategy gravitate toward meeting these essential customer criteria.
A great example is how Harshil Mathur, CEO of Razorpay, has created FTX, India’s largest fintech event, bringing together thought leaders and industry influencers to celebrate milestones and explore new solutions. This platform helps fintech entrepreneurs, consumers, and enthusiasts build awareness and gain valuable learning experiences. Such thought leadership properties enable leaders to expand the scope of their audience and bring in more leads.
4 Tips on How to Become a Credible Thought Leader
So how can you get started with a thought leadership strategy? Here are a few tips:
- Identify your area of expertise: What are you truly knowledgeable about in your industry? This is the foundation of your thought leadership strategy.
- Create a content plan: Determine what types of content you want to create (e.g. blog posts, white papers, webinars) and how often you want to publish. Consistency is key to building an audience.
- Promote your content: Use social media, email marketing, and other channels to promote your thought leadership content and reach a wider audience.
- Engage with your audience: Encourage conversation and engagement with your audience through the comments section of your blog or on social media. This helps build trust and establishes you as a responsive, approachable thought leader.
Conclusion
Overall, thought leadership can be a powerful branding strategy for the top organisational leaders in India and businesses of all sizes. By demonstrating your expertise and providing valuable, informative content, you can establish credibility, differentiate yourself from the competition, and ultimately drive more business.
Tailoring your thought leadership to your brand values is the most effective way to win customers and transform your brand into a legacy. Remember to set up your thought leadership vision strategy for the long haul, as it takes time, patience, and effort. But the rewards you and your business will reap for a sustainable, long-term, and strategic approach will be immense.
