Your thought leadership needs a strategy

The Rise of Thought Leadership in Business

Businesses are increasingly focusing on thought leadership. This trend is driven by two main factors. First, consumers are becoming more knowledgeable and seek expert opinions. Second, executives recognize the benefits of thought leadership in shaping perceptions and influencing decisions.

Despite its advantages, many companies see thought leadership as optional. A Harris Poll study shows that only a few achieve their target ROI. Additionally, only 20% of executives find their efforts effective.

Why Thought Leadership Often Fails

To improve ROI from thought leadership, companies must change their approach. Currently, many rely on events and reports without a clear strategy.

Companies often ask questions like: “What events can we launch?” or “What reports can we publish?” This outside-in approach leads to ineffective solutions that lack lasting value.

Many activities are uncoordinated and do not align with each other. Different departments may launch separate initiatives, resulting in mixed messages and missed opportunities.

Executives often conclude that these efforts do not impact profitability. Consequently, they become easy targets for cost-cutting measures due to their perceived lack of value.

A New Approach to Thought Leadership

To succeed with thought leadership, companies need a fresh perspective. They should focus on their unique competencies and internal strengths.

Thought leadership should be seen as a strategic imperative rather than just an event-driven activity. It can help rebrand the company or target specific customer segments effectively.

For instance, MTN is transitioning from a telecommunications provider to a tech company through targeted thought leadership.

Companies should also highlight their unique industry competencies through Intellectual Property as a Service (IPaaS). Unilever has successfully turned sustainability into a key value driver through deliberate thought leadership efforts under ex-CEO Paul Polman.

Additionally, businesses must shift from viewing these initiatives as cost centers to revenue drivers. The goal should be converting audiences into paying customers while measuring success based on tangible impacts on profits and brand equity.

Research by LinkedIn and Edelman indicates that about 30% of executives feel their companies underutilize thought leadership for sales or marketing purposes.

Delivering Effective Thought Leadership

A Harris Poll survey found that the ROI for thought leadership spending could reach 14x when done correctly. Companies need to adopt proven strategies throughout the process to achieve this level of success.

The Keynote Formula provides a step-by-step guide for developing effective thought leadership:

1. Assess business priorities and sales goals.
2. Identify high-value focus areas using the Thought Leadership Value (TLV) framework.
3. Align topics with senior leaders based on business goals.
4. Choose execution methods like webinars or conferences.
5. Select key partners and stakeholders for collaboration.
6. Estimate costs and set budgets.
7. Establish clear milestones for execution.

In today’s influencer-driven market, businesses cannot compete solely on products or services anymore. Successful companies like Microsoft and Salesforce use thought leadership strategically to drive revenue and build credibility.

To remain competitive, firms must treat thought leadership as essential to their brand strategy rather than an optional activity. Those who fail to adopt an ROI-driven approach risk losing relevance in the market.

Future winners will lead industries through innovative ideas rather than just selling products alone. Now is the time for businesses to rethink how they view thought leadership—as an engine for growth instead of merely a cost center.


Authors
Emmanuel Adu-Darko
Managing Partner
Washington DC

Precious Gyau
Partner & Country Director
Accra

Elizabeth Ewudiwa
Partner, Enterprise Thought Leadership
Accra

About Keynote Associates

Keynote Associates is a consulting firm specializing in thought leadership strategies for corporations and governments worldwide. We provide comprehensive solutions that elevate brands through impactful content and stakeholder engagement strategies tailored to our clients' needs.