The Insight250 spotlights and celebrates 250 of the world’s premier leaders and innovators in market research, consumer insights and data-driven marketing. The inaugural list was revealed this April and created renewed excitement across the industry whilst strengthening the connectivity of the market research community.
With so many exceptional professionals named to the Insight250 it seems fitting to tap into their expertise and unique perspectives across an array of topics. This weekly series does just that; inquiring about the expert perspectives of many of these individuals in a series of short topical features.
This edition features Victoria Usher, a practitioner who knows our profession inside out, having held global leadership positions at Synovate and a decade ago founded GingerMay and still leads, as CEO, this multi-award-winning PR and communications consultancy. I spoke to Victoria to discuss the value of thought leadership and how to achieve it. As the sophistication of consumers increases, and “fake news” becomes more prevalent, credibility is becoming even more essential. A major component of this is through thought leadership. I learnt about some of the essentials from Victoria.
Crispin: “Why is thought leadership so important right now and how does it help your business?”
Victoria: “Thought leadership is vital for any business or individual looking to build a respected, authoritative, and distinctive voice in their industry. Its importance stems from the fact that business is now the only institution trusted by the public, according to the most recent Edelman Trust Barometer. In comparison to Government, NGOs, and the media, business is the one institution seen as both competent and ethical. As business leaders, this means we own an important role in society.
“PR and communications both play an essential part in profiling organisations and professionals as trustworthy sources of information. Sharing expertise, being actively involved in current industry conversations, and offering valuable insight into topical matters all support your position as a thought leader. Not only does this build credibility among target audiences, but it also creates and sustains relationships with clients, stakeholders, and the press.
“In short, thought leadership is the core pillar for developing a strong business reputation and a competitive edge. And it matters because external perceptions of a company influence its potential for growth and success.”
Crispin: “How do you develop a strong thought leadership reputation?”
Victoria: “The first step to building a thought leadership position is to differentiate yourself or your company from your competitors. Do this as early as possible in your business’s evolution.
“For instance, thought leaders can focus on a specific topic within their industry, as well as discuss issues that aren’t central to their business operations. Being proactive is key. PR and comms is a balance of responding to the latest developments and seeking out emerging trends. This enables a business or individual to get ahead of the competition and become the first authoritative voice in a wider discussion. Timing is everything here, so be sure to share insight when it’s most relevant — and when audiences are the most receptive.
“Identifying the best channels through which to execute this relies on understanding the position of your target market. A strong mix includes preferred editorial publications, social media platforms, and industry events – but it’s best not to stretch yourself too thinly. The channels that deliver the most impact against your business objectives should be prioritised. If your goal is to increase website traffic and lead generation, then set up a company blog that addresses the challenges of your prospective clients with quality content, key words, and backlinks. Or if you’re looking to boost business awareness and credibility, earning recognition through industry awards is a smart move.
“Building a reputation as a thought leader is a continuous process, which should keep pace with your business and industry. Effective thought leaders track their success by monitoring their share of voice in the media against their competitors, how much engagement they generate, and their business growth. From client surveys to website analytics, businesses can utilise a number of tools to assess the performance of their thought leadership initiatives.”
Crispin: “What are some good examples of individuals or businesses that have developed a thought leadership reputation?”
Victoria: “Companies and professionals with a robust, consistent presence in the media are those that offer the best approach to thought leadership. The sustainability sector, for example, is a space that’s rapidly growing in both visibility and commercial importance.
“Businesses such as Ørsted have built a strong voice in this space. Following its announcement for the completion of its largest onshore wind farm at the beginning of August, it followed up with its support for further renewable energy initiatives, offering commentary and action around current industry developments. Last month, Ørsted also shared its partnership with Microsoft and discussed its large-scale projects in other markets, maintaining its presence as a sustainability thought leader. By providing timely, relevant views on the industry’s progress as well as its own, Ørsted solidifies its authoritative reputation.”
Crispin: “Any tips or ideas on how other companies can develop a thought leadership reputation?”
Victoria: “First, keep your messaging topical and relevant. It should address something people are currently interested in. Businesses can tailor their thought leadership content further by doing research into their audiences, whether that’s investors or prospective clients. Thought leadership is all about providing valuable information that advances your sector, so learn what makes people tick and respond.
“Second, be a problem-solver. By understanding the issues of your industry, you can position yourself or your business as best suited to overcome them. Tap into the aspects of your company that make it unique in the market — is it your offering, your exceptional service, or the depth of expertise you offer clients? Knowing this forms the basis of your messaging.
“And third, remember that business leaders aren’t the only ones that can develop a strong reputation or contribute to an organisation’s thought leadership initiatives. Talent from your senior teams can also be profiled to offer individual viewpoints. To enhance your business’s reputation and reinforce credibility, ensure the most knowledgeable spokesperson on a topic is given the opportunity to discuss their specialism.
Thought leadership is undoubtedly an investment. But time after time companies that build a clear strategy gain a strong commercial and reputational advantage over their competitors. If you’re a CEO looking to succeed, a thought leadership strategy should be one of your first ports of call.”
Crispin: Hot Topic: “Victoria each week I ask about a hot topic but flipping this, what do you think the next hot topic will be that we should all be focused on?”
Victoria: “That would have to be sustainability and greentech. Data is increasingly showing irrefutable proof of the impact of human beings on the planet and the devastating results for future generations if we do not change our behaviour. I’m incredibly excited by many of the new businesses looking to help solve this issue and I’m going to make sure that GingerMay is front and centre of this as part of the solution not the problem.
TOP TIP
Victoria: “Post regular thought leadership content on LinkedIn: with quasi-working business models and individuals still not attending in-person events, LinkedIn now attracts more business eyeballs than ever before. Ensure you are posting content on breaking issues that affect your clients at least once per week. Aim to make the posts short, around 300 to 400 words, and make them action-oriented using lists of three tips to help articulate your point clearly.”
Crispin: Thanks Victoria – I couldn’t agree more with your comments about the importance of greentech to help solve the sustainability and climate change issues. Later this month there’s an online conference on this subject, #WeBetterBehave2021 that’s free to register for and has keynotes from previous interviewees including Pepsi’s Stephan Gans and Boot’s Pete Markey. Coming up we also have the MRS Sustainability Summit – I’d encourage everyone to sign-up for these events.
Our sector is full of bright and committed people, several of whom I’ve now had the privilege to interview as part of this series. On each occasion I’ve learnt something new and realised how important their thoughts on the topics we’ve discussed are … hopefully this article inspires more people to share thought leadership content and champion the great work and ideas that exist in our profession. Thank you.
