Marketing

Do’s and Don’ts of Thought Leadership Building.

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erGo-250Being known as an authoritative resource is powerful in today’s marketplace. The more recognition your company gets, the more powerful it becomes. With so much at stake, it pays not to make missteps in the thought leadership arena. Here’s how to get your strategy off on the right foot.

Do

  • Establish goals you can reach—then move on to bigger things.
  • Immerse yourself in your professional domain.
  • Look for topics that your competition misses.
  • Encourage thought leadership development among your staff—thought leadership isn’t a one-person show.
  • Search for new things to say and add value through what you offer.
  • Be willing to risk rejection in the interests of finding better ways to do things—admit if you’re wrong.
  • Keep customer needs at heart—thought leadership shares the selfless characteristics of servant leadership.
  • Employ leadership vision—point toward a new future or a change in direction.
  • Deliver thought-leadership messaging that is actionable.
  • Ensure that ideas are relevant to your peer base—know your audience.
  • Present solutions grounded in experience.
  • Invest in good research.
  • Make your content actionable.
  • Be fair and balanced in your presentations

Don’t

  • Confuse being a thought leader with being a pundit.
  • Forget that you need to earn the trust of your audience.
  • Lose patience—your company won’t establish instant thought-leadership status.
  • Fear being a little controversial if you’re making a bold projection—just back up what you’re saying.
  • Use a voice that doesn’t match your company’s personality.
  • Fail to communicate thought leadership through multiple media—newsletters, by-lined articles, blogs, social media networks, webinars, symposiums, panels, white papers, case studies, surveys, research studies, speaking engagements and road shows.
  • Neglect to seek an outside perspective before publishing any thought leadership piece.
  • Trip customers’ “BS” meters with your content—demonstrate your desire to help them by being authentic, genuine, generous and accessible.
  • Obsess about giving away too much information—you’ll get more benefit from leveraging your knowledge than trying to hoard it in today’s fast-moving markets.
  • Make thought leadership purely a marketing responsibility.
  • Forget that thought leadership still needs to be part of a larger marketing strategy.
  • Get sucked into believing that thought leadership requires being big—quickness and agility can be huge advantages.

Be a Vertical Market Star. Becoming a thought leader doesn’t require being recognized when you walk down the street. The idea is to become a household word within your narrow business domain. Pick your audience and become famous there. And while being labeled the “rock star of nutraceuticals” might not seem all that glamorous, it can make a lot of money for you and your company.

Source: Larry Chase’s Web Digest for Marketers

By Larry Bauer

Boosting Your Brand With Thought Leadership.

By in Blog Posts, Branding, Marketing No Comments Tags: ,

suM-250Being a thought leader in your industry is critical to supporting and expanding your brand. The strongest brands are those owned and managed by thought leaders. That’s because thought leaders understand that there are key building blocks enabling their position.

Thought leadership building blocks:

  • Design & engineering (product/service, process, store, graphics, interactive)
  • Marketing & sales (multichannel media, sales methodology)
  • Service (phone, online, social media, mail, in-person)
  • Operations (raw materials, manufacturing, warehousing, delivery)
  • Ethics (your brand’s moral compass including aspects such as fair trade, labor practices, environmental responsibility and community support)
  • Empowerment (employees, vendors, partners, customers)

thought-leadership-circle-LG

The strength of the Thought Leadership Circle is only as good as its weakest link.

A solid network of thought leadership building blocks enables trust in the reputation of your brand. Imagine a perfect circle made of building blocks surrounding your customers. As the thought leader in your category, you must continually excel at all of the above to prove your leadership worthiness. Any misstep impacts your position and ultimately, your brand’s integrity.

In this article, we’ll review the design component of thought leadership.

Using Design As A Thought Leadership Building Block.

Looking the part of the thought leader ensures your customer pays even closer attention to what you say and do. For example, let’s look at IKEA, arguably THE thought leader in the modernist home furnishing market.

IKEA spent the past 50 years building its reputation as THE expert in affordable modern design for the home. Going way beyond just designing modern products, IKEA modernized the process of buying home products and designed stores that include everything for the home. They managed to instill a global and modern design sense in every aspect of their business, thus building the ultimate modern brand. IKEA is the thought leader of modernist home furnishings. It is the go-to expert if you want affordable, cool, modern stuff for your crib with that special IKEA shopping experience.

But, and you knew there was a ‘but,’ right?

Very recently, IKEA enlisted in a rebranding project and as a result, changed its corporate typefaces from their customized versions of Futura and Century Schoolbook (a.k.a. IKEA Sans and IKEA Serif) to Verdana. The objective was to unify the company’s online and print typefaces to save costs on global implementation. While a respectable goal, this brand maneuver is resulting in a huge outpouring of criticism in the blogosphere, Twitterverse, newsfeeds and online forums, ultimately questioning their future position as thought leader for modern home furnishings.

Why Is This Even an Issue?

On the surface, this may not seem like a big deal. But what IKEA failed to take into consideration is that the typography component of design is a method by which we express the brand’s voice, and a significant portion of their customer base is design-centered. Most of the commentary critical of this change focuses on the future:

What does this mean for IKEA’s position as modernist thought leader?
Who will they turn to for leadership in affordable furnishings for their homes?
Who do they trust?

To better understand why this venture is risky, let’s first review a little background info on the three typefaces and their applications:

  • Futura is a modernist typeface designed during the Bauhaus years and uses the perky geometric forms of that day. Because of it’s geometric and modern design, Futura is often used for both display and body text applications. IKEA Sans is a slightly customized version of Futura designed by Robin Nicholas.
  • Century Schoolbook is a serif typeface based on research that showed young readers more easily identify letterforms that used contrasting weights. It also has a larger x-height and slightly increased tracking to further improve readability at smaller sizes, making it perfect for body text where it enhances communication. This feature is so critical that the Supreme Court of the US requires briefs to be typeset in Century.
  • Verdana, designed by Matthew Carter in 1994 for Microsoft, served a very specific application: on-screen use in websites. Verdana includes features that make it more legible on backlit monitors including: larger x-height, added tracking and enhanced pair kerning. It is the extra tracking and padding that make Verdana inferior for print use. As a display headline, all that padding and special kerning requires adjustment downward to increase readability. Thus, using Verdana in print actually makes more work for the print designer.

Typeface usage falls within two traditional categories and one new one: display, body and screen typefaces. Display fits larger needs such as headlines in ads and text on outdoor billboards. Body faces are appropriate for smaller text such as paragraphs and captions. Screen faces are exactly that, faces that increase readability on computer monitors or overhead projectors.

Yeah, Yeah—Get to the Point.

Most consumers don’t purposefully think about the exact ingredients that go into the products they buy or the brands they love. They don’t think about the thickness of steel on the body of a Mercedes or the method by which Mercedes applied the paint. They just know that it’s the color they want, it looks good and they trust that the engine won’t fail them. But if the paint job were flawed, you can bet they’d notice it immediately, and the integrity of the Mercedes brand is then open to debate. This is a great example of the invisibility of good design and engineering.

Likewise, Futura reflects the modern IKEA product ‘design equals function’ aesthetic and reinforces their modernist thought leadership position even though consumers don’t directly think about it each time they open the IKEA catalog. Century Schoolbook reinforces that modernism while increasing readability in body text and again, consumers don’t directly think about just how easy it is to read the tiny type in the catalog. It all just works and looks good.

Verdana is arguably the best sans-serif typeface for use on websites, its specific design purpose, but it has no basis in print. Typeface selection, along with color, imagery and other seemingly aesthetic design choices, directly affects functionality and has the power to affect our emotional connection to a brand, thereby playing a key role in maintaining the thought leadership position of a company.

While functionality is obviously measurable, the emotional connections are harder to attribute to design. This is why corporations, even IKEA, so often overlook them.

So, is IKEA thinking ahead of the curve or are they driving blind?

“Design is no longer just about form anymore but is a method of thinking that can let you to see around corners.”
Bruce Nussbaum
Editor, BusinessWeek’s innovation and design coverage

Very few corporations understand that good design plays a key role in building a thought leadership position. For example, companies like Apple, Target and Trader Joe’s all use design as a method of creating and retaining their respective leadership positions. Companies that pigeonhole design as marketing department fluff are not taking full advantage of their thought leadership tools.

IKEA became the thought leader in modern home furnishings by integrating design as a key brand-building component. It will be interesting to see what happens next.

By Julia Moran Martz

Are You Creating the Right Recession Impression?

By in Blog Posts, Marketing No Comments Tags: , ,

hawkerDawg-250Maybe it’s time to give yourself and your team a little pep talk. Get your facts straight. Know what you’re talking about. Create a results-oriented plan that will improve sales today and better position your company for tomorrow. You can do it. What’s more, you need to do it.

Going “dark” to your customers is exactly what your savvy competitors hope you will do. They recognize that there are opportunities in today’s economy. Just as importantly, they are thinking about the mid-term and long-term gains they can achieve—at your expense—by being more aggressive now.

Accountants Can Put You Out of Business.

Cutting marketing to the bone might satisfy the accounting department, but some financial people (and operations, too) often question whether marketing really sells products. A down economy is just an excuse to do what they’d like to do all of the time. It’s up to you to demonstrate that crippling marketing is a bad decision.

I’m always reminded of the story where William Wrigley is riding on a train and one of his colleagues asks him why, with a dominant market share, did he continue to promote his chewing gum so aggressively. “How fast do you think this train is going?” Wrigley asked. “I would say about 90-miles an hour,” the colleague responded. “Well then,” said Wrigley, “do you suggest we unhitch the engine?”

That’s an easier position in good times than bad, you might argue. But there is not one shred of evidence that cutting marketing during a downturn will help your organization. Consider these recession research studies:

  • Yankelovich/Harris
    Execs agree that seeing a company in a down market makes them feel more positive about the company and keeps them top-of-mind when making purchase decisions.
  • McGraw-Research Laboratory of Advertising Performance
    Study of 600 BtoB marketers found that those who maintained or increased advertising during a recession averaged sales growth of 275% over the preceding five years.
  • American Business Press
    Study revealed sales and profits could be maintained and increased in recession years and in the years following by those who maintain an aggressive posture while others become non-participants.
  • Harvard Business Review
    Report of 200 companies found that sales increases came from companies that advertised the most during the recessionary year.

Is It Too Late?

No, but depending upon your situation, you may need to regain the confidence of executive management. And you will almost definitely need to be creative with your budget and reallocate money to areas that will generate the most measurable results. You should focus on:

  • Adding Value. The last thing you want to do is engage in discount battles—especially with your top brands. Price cuts not only hurt current profitability, but they also can be difficult to escape later. A low price tends to become the expected price. Demonstrate instead that you identify with your customer’s challenges and build on values such as durability, security, ease-of-use and timesavings.
  • Selling More to Existing Customers. Returns are so much better and less expensive than prospecting. Increasing your share of customer through more frequent and/or larger purchases can do wonders for your bottom line.
  • Improving Data Mining. Whether you are selling to existing customers or prospecting, nothing will increase results more that instituting database marketing best practices. Get your data out of departmental silos and into a centralized database that offers a single view of each customer. Then you can begin adding sophistication through data appending, predictive modeling and many other techniques often overlooked or underutilized by even large companies.
  • Adding Marketing Automation. You can streamline your marketing program and improve results through marketing automation systems. Good ones will not only help you efficiently manage and execute campaigns, but will also provide the valuable reporting you need. With a recent CMO study indicating that 20 percent of executive-level marketers don’t track their marketing returns at all, there is plenty of room for improvement.
  • Integrating Multiple Channels. Anyone who is paying attention knows that the best returns come from campaigns that skillfully integrate multiple channels. Just make sure you commit your limited funds to the right channels. Consider what Gregg Ambach of Analytic Partners said in an article that appeared in the July 2009 issue of Deliver magazine: “(Digital) is incredibly efficient, because the cost per thousand is low. But it’s just not moving a lot of volume yet.” So be careful about being penny wise and pound foolish when allocating recession marketing dollars.

By Larry Bauer

Want Expert Advice?

MondoVox Creative Group can help you develop cost-effective, multi-channel marketing campaigns—from strategy through execution—that deliver measurable results. For more information, email Julia Moran Martz.

You can connect with Julia Moran Martz on LinkedIn. Or follow her on Twitter.

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