The software companies are using Thought Leadership as their content marketing strategy where they are utilising their knowledge, experience and expertise inside the business or from their community, to answer the biggest problems in the minds of their target supply chain management market. The thought leaders are targeting to establish authority on their topics to produce deep research on the subject in order to present a depth of knowledge that no one else has.
Supply chain thought leadership can be defined as the qualification of your company, resources, or processes which are capable of developing new approaches to supply chain challenges of the future. To establish your company as a “thought leader” it is important to praise your capacity to unlock value or overcome obstacles with innovation beyond what your competitors have achieved so far.
The benefits of thought leadership start with brand affinity. By communicating thought leadership, you become part of the conversation early in the consumer journey. You allow your audience to get to know you. Ultimately thought leadership is one of the outcomes of a solid content strategy. And content is bigger than marketing. Leaders are everywhere. Expose your thought leaders, and you begin the process of setting up a successful business.
In the arena of thought leadership your company should aim for creative and unique understanding of the business with the ability to project effective and relevant insights which will attract and impact your customers in the market.
The secret idea of the software companies behind showcasing thought leadership is to sell their consulting practice. Thought leadership actually increases the sale ability of their smart and experienced resources. But in true sense it never brings down the actual significance of thought leadership in the industry. With thought leadership we are able to comprehend the innovative solutions for the existing business problems and also opportunities in future of supply chain.
The importance of the supply chain thought leaders are more important than ever given the impact of the supply chain in driving the success of modern organisations. The ability to understand all aspects of an end-to-end supply chain is essential for the thought leaders; this would refer to all activities that take place from “farm gate” to “consumer plate”. It is neither possible nor appropriate for the thought leader to try and acquire complete knowledge on “end-to-end” supply chain; rather it is more about collaboration among key partners that clearly understand their different value offerings and can align on purpose and objectives. Supply chain thought leaders must recognise this reality and understand the capabilities, needs and objectives of each key supply chain partner so the supply chain operations continue to be effectively realised.
Let’s talk about the companies who are not really investing or putting any effort in thought leadership. Most of the software companies who are there in business for more than a decade, have a vast knowledge of their industry, and have new and creative ideas on how to make a mark on their customers. It makes sense for a CEO or business owner to look closely at the bottom line and this is where sometimes they don’t see the ROI in spending time on thought leadership. But for their knowledge, now consumers are doing more research into businesses than ever before. They don’t just want a company that will get the job done; they want one they can trust. They want one that employs right resources. And they want to work with a company that can show them that they know the answers to their questions before they even realise the problem. The top leaders in the industries very well know that the true thought leaders inspire positive change and share their knowledge in order to make their business and their industry a better place.
As company CXO or business owner of a software company, if you are really looking forward in investing your time and money in developing thought leadership there are few ground rules which can always be followed to see the actual ROI.
Define the Road-map
First of all define your organisation’s definition on thought leadership and start defining the road-map to be able to define the desired outcome and define the steps to achieve it. Bear it in your mind that Thought Leadership is never a revenue stream. Create your road-map with an eye toward accrual of brand value, not revenue. If you want your organisation to be a thought leader, you need to make sure that what you create comes from the DNA of your organisation, and that it finds its way back.
Identify area of expertise
An end to end Supply Chain consists of multiple business entities so when acting as a thought leader it is important to be focused. The best way to develop your acumen in thought leadership is to leverage on your capability and skills which you have acquired in all those years of services. Discuss with your centre of excellence and identify the areas of expertise.
Customer Survey
Conduct survey to identify the business problems your customers are facing over specific areas which you are competent in brainstorming. Detect the questions your customers and the business owners are asking during a sales pitch or while you are attending a conference or seminar. Identify them all, make a list and prioritise them. Answer those questions across multiple formats and multiple channels in a way that adds value to your audience. Start with the most important and work your way down the list. Seek to be the best answer to those questions.
Competitor Analysis
A simple Google search can help you answer that question. You have to remember in current market brands are not just competing with their direct competitors rather they are competing with everyone. Anyone who publishes content in your space is competing for mind share and authority.
Market but don’t sell
Market your thought leadership as a product but never sell during a thought leadership presentation, discussion, or post. Consider your target audience for thought leadership represents the most sophisticated information consumers. The audience knows that the company delivering them the insight is a software service firm and that they are in the business of making money. Don’t tell them that during the course of an article about your supply chain service or product that you have the best answer to the most recent and trending business problem, and then showcase a bunch of product names or put up logos to convince them of your market position. If your ideas are valuable and meaningful, buyers will come to you. They will ask how you uniquely deal with the problems. When that happens, the thought leadership conversation becomes a pre-sales conversation and then you can shift into a more traditional sales relationship.
Smarter and not looser
Don’t think about losing your idea or solution to your competitor who attends a thought leadership session on social media and then implement your ideas in his/her company. The person sharing his or her learning expresses a certain level of trust in the source, which they may well return to you setting up a virtual relationship transforming the learning experience into a purchase.
The benefits of thought leadership are not just limited to acquiring new customers. Here are some of the other benefits of thought leadership:
- Acquire potential Resources from the Industry: Potential employees who have become more aware of your company may seek employment with you.
- Free publicity and branding: Research and Marketing companies may look to your company for insight on breaking news and trends, offering free exposure in trade publications or national news outlets
- Business Development Opportunities: Business development opportunities may arise, such as partnership requests, investment opportunities, or buyout offers
- Industry publications: You may be offered speaking engagements or opportunities to write for industry publications
Let me put some figures from the latest research report on Thought Leadership published by AMCF (Association of Management Consulting Firms).
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