 |
 |
| |
|
Welcome to the seventh issue of Thought Starters! These are interesting times for Thought Leadership Marketing (TLM) in emerging economies. While the concept of TLM is well understood in developed economies, enterprises in countries such as China, India and Brazil often label it as just another marketing tactic. However, the tide is gradually turning and organizations are waking up to the opportunities that are in store for those who recognize and employ TLM. Here's a tip for those who are listening: The early bird gets the worm!
We would love to hear your thoughts & opinions. Please mail us at karthik.nagendra@thought-starters.com. We wish all our readers a Happy & Prosperous 2014!
Regards
Karthik Nagendra
Founder & Director- ThoughtStarters
|
 |
| |
 |
| |
|
 |
 |
| |
| Is Your Brand Geo-Smart? |
| Author: Karthik Nagendra |
| |
| Factor your Location into your Thought Leadership Strategy |
| |
Have you ever found similarities between the game of cricket and managing a multinational?
I have.
You see, in the game of cricket, unlike soccer and baseball, there are no specifications for the size or the shape of the field. Therefore each game presents a number of possible outcomes not only on the basis of team composition, but also where it is being played. For instance, most Cricket grounds in Australia are so large that getting boundaries is tough. Therefore they generally favour batsmen who can sprint between the wickets.
In a similar vein, the geographical location of business plays a critical role in designing the product/service. Businesses must not only adhere to the geo-specific rules and regulation, but engage with their audience and educate them about why they designed a product/service the way they did. In fact, a thought leader would go a step further and preempt geo-specific issues that might endanger their company’s reputation.
Let us take the recent car safety report by Global NCAP for example. The report rated five popular small cars in India as unsafe because they do not adhere to the global standards of safety. How did the majority of car makers in question respond?
They didn’t.
They chose to ignore the study, hoping for the story to die a media death.
But you know what: studies such as these can never be erased completely.
Sure, car sales are still on an upswing; buyers are still queuing up to buy the small cars indicted in the study; it seems to be business as usual.
Only it is not.
The germ of doubt has crept into the consumer’s mind. The next time they compare cars, they will remember that certain cars are not safe enough. They will make a mental note that the car makers’ promise of safety is not sincere. They will strengthen their innate psychological barrier that stonewalls marketing and sales efforts, and base their purchase decision on what they think is right. Not on what the carmakers promise and advertise.
The car makers have lost trust. That’s a pretty big blow in business parlance.
Now, here’s what a brand, that considers itself a thought leader, would have done.
Step 1: Look further
A thought leader would have noted the differences in local and global safety regulations. (After all, these are multinational companies.) Considering the high level of global interaction the average populace has, the brand would have foreseen the problems that the comparison of different safety standards might trigger.
With the problem area identified, the thought leader would have engaged with their audience and explained to them why they built a product the way they did. The brand would have highlighted the suitability of the product specifically for Indian roads.
Step 2: Be Available
We know that the brands in question did not invest in Step 1. But now that the report is out and the damage done, how should they have reacted?
A thought leader would not shirk the questions or waive off the audience’s concerns. A thought leader would be standing front and center, not wary of facing the questioning squad, and eager to put all doubts to rest. In fact, a thought leader would plug into the vast reserve of fans and customers and request them to voice their opinion regarding the damning study. Positive feedback from the existing customer base would offset the damage to the brand reputation.
Step 3: Arm yourself with knowledge
Proving yourself right is a lot more than a well orchestrated PR exercise. A video of a CEO apology or a press statement by the C-suite are likely to be shot down by discerning audience. A thought leader would counteract the study with more relevant research instead.
The car makers should question the suitability of global safety standards to Indian roads. For instance, if a majority of cars are driven within city limits where one rarely speeds past 40km/hr, safety features such as air bags are unnecessary. A thought leader would respond to the Global NCAP study with one of their own, complete with facts, figures and statistics that would explain their decision to do away with certain safety features.
Aim for Geo-specific Thought Leadership
Geo-centricity is a vital element of Thought Leadership. To excel in a particular location, businesses must assess their decisions in the light of the local culture, lifestyle and infrastructure. This entails detailing your thought leadership strategy to levels where it spots and closes all gaps; understanding your audience’s concerns; and educating them about what you, as an expert feel is best for them.
Now, if you were representing one of the car brands in question, how would you have tackled this issue? Do comment below!
(This article first appeared on Managing Americans) |
|
| What Makes Content ‘Great’? |
Author: Anusha jha |
| |
| “Elementary, Dr Watson.” |
That is how Sherlock Holmes would have answered the above question. After all, forensic analysis of all ‘great’ content would reveal consistent findings. No, these findings wouldn’t be about the right grammar, punctuation or style. Those parameters separate ‘good’ content from ‘bad’. For content to go a step further and be ‘great’, it must it must contain the following three elements.
First clue: Are you hooked yet?
We are a race that, for generations, has been huddling around camp fires and kitchen tables, around grandparents and raconteurs, under the starry sky or in cinema halls, consuming legends, anecdotes or stories. Why are we such suckers for stories? Because they give us an opportunity to enter another world, live somebody else’s life and feel somebody else’s pain or revel in their happiness. They enable us to learn from others’ experiences. They entertain, enthrall and engage us.
Yes, great content engages. It draws in the audience and makes them a part of the story. So does content.
The engagement can be conspicuous in the form of comments, feedback or affirmative action such as a consumer deciding to make a purchase. It can also be inconspicuous, and yet positive, in the form of building trust.
Therefore, while creating content don’t ask if it is funny, informative or SEO driven. Ask if it engages your audience. Once that criterion is in place, everything else will follow.
Second clue: Is it valuable?
Time is money. And so is attention. Why would anyone ‘spend’ their attention on your content if they do not get anything in return?
If you, as an enterprise, want your audience to value your content, offer them something valuable in return. Talk about what they want to know, not what you want to tell them. Share actionable information that will make a positive difference to their business.
They say it is not wealth, but the ability to give, that makes one rich. Ask yourself: Are you rich in your area of expertise?
Third clue: Does it contribute to the big picture?
Cardamom is a wonderful spice. So are Asafoetida, Celery, Coriander, Cumin and Nutmeg. However, have you ever had a dish made entirely of Nutmeg? No, I thought so too. These are but individual ingredients that go into making a dish.
Disparate pieces of content are like spices. They must be added together so as to contribute towards your brand’s big picture. A standalone article, irrespective of its excellence, will fail to stir your audience. However, the very same article when tied into your content marketing plan and taking into account your long term goals through appropriate messaging, will create ripples.
Any missing clues?
Truth be told, the audience isn’t Sherlock. They don’t have the time or the passion to decode your content. Or what went wrong with it. So engage with them, share your insights and aim towards your ‘big picture’. Soon the pieces will start falling together.
You know, why wait? Share your insights now as to what makes content ‘great’ by commenting below! |
| |
|
| |
|
 |
| |
 |
| |
|
| Interview |
|
1. In your opinion how important is thought leadership marketing for companies & why?
Thought leadership is very important today given the rate of change affecting global business.
Lenin once said that “There are decades where nothing happens; and there are weeks where decades happen.”
The times we are living in are like the weeks where decades are happening. At this stage of the growth of the global economy it is important not only to know the future but to also prepare our customers and stakeholders for the same.
I think this is the role of thought leadership and I would believe that companies would continue to invest in the same over long periods of time.
2. One interesting thought leadership marketing program that you admire & why?
In the B2B segment I personally like the KPMG Fraud Survey that comes out once in 2 years in India. Really admire the effort that goes into it and the perspectives it brings out. Also it sets a benchmark for fraud detection and the best practices are adopted industry wide. Another good example is the IBM C – Suite study. IBM does work extensively with academia and also has the Institute of business value as a organization dedicated to thought leadership. I think Wipro also does a good job around thought leadership.
On the B2C front I really like the Johnson & Johnson “Baby Center” initiative to drive thought leadership among the new and expectant months in the world.
|
| |
|
| |
|
3. Advice you would like to give companies planning to adopt thought leadership marketing. (Do's/Don't's)
Do's
• Focus on areas that your customers or stakeholders are looking for guidance from you
• Spend time and effort in defining the research objectives
• Put your best people on these initiatives
• Have an elaborate plan to take the messages to market
• Look for collaboration with academic institutes and research agencies while building the research
Don't
• Add sales or marketing messages to thought leadership
• Rehash existing content available in the market and pass it off as thought leadership
• Force research agenda on employees, enable employees to develop thought leadership through company policies
• Create an ecosystem of partners, innovators, academics and evangelists who can partner you in research
4.How do you see companies like ThoughtStarters playing a critical role in helping companies drive thought leadership marketing?
In my opinion firms like ThoughtStarters bring a balanced approach to thought leadership and can help develop a very neutral opinion of a future state. That neutral opinion reduces any bias that an organization might have due to its existing capability.
Also given the experience and the relationships that such an entity would bring to the table, I feel it makes a valuable partnership that can foster a climate of research and innovation. This also helps the organization to focus on its core competency while leveraging the expertise of professional organizations in developing market leading research. |
| |
|
Dr Vikram Venkateswaran | Marketing Leader
Dr Vikram Venkateswaran is marketing professional and independent blogger. He started his career as a dental surgeon eventually moving to sales and marketing in technology consulting. He has worked for technology firms like CSC-Covansys, Wipro and IBM. His areas of interest include thought leadership, social media and lead generation. He is an avid writer who has authored thought leadership papers in the areas on e-health, Healthcare analytics and social media. He is also a blogger and writes two blogs one on management and the other on public Health in India. He can be followed on twitter @drvikram. |
| |
|
|
 |
| |
|
 |
|
Take this simple poll on "Thought leadership: Drilling down to the details"
An assessment of how companies can leverage best results from their thought leadership marketing efforts & sustain competitive advantage
Click here
|
|
 |
|
Thought Leadership Essential to Professional Services Marketing
Read More
Thought Leadership Marketing in the Age of Online Influence
Read More |
| |
|
 |
| What’s a personality trait of a bad marketer? |
| Ans: Anti Social! |
| Courtesy: HubSpot |
| |
|
|
 |
|
| |
|
