How thought leadership can grow your business in 2024
“Today I want to tell you three stories from my life. No big deal. Just three stories.”
This is how Steve Jobs opened his infamous 2005 Stanford commencement speech. It’s one of the best examples of an effective thought leader: there’s no mention of his business or work, but there doesn’t need to be.
95% of your audience isn’t ready to buy or partner up just yet. They’re browsing, and connecting with people.
Thought leadership allows organisations to express wider values and visions in a more relatable form: people. That in turn helps foster a connection with the 95% that aren’t looking to buy, kicking off a relationship that leads to future business success.
If you don’t believe us, believe business leaders.
2,600 senior executives were asked to rank the reasons they chose to do business with someone. At the top of the list was the “quality of a firm’s ideas and their thought leadership” ahead of “attractive pricing, the strength of the product and a brand’s global reach”.
If you’re picturing quotes from a CEO or a video of your executives convening at a meeting, think again. The best thought leadership takes the form of an authentic and organic interaction.
To illustrate this, let’s look at a thought leader that leveraged his role to further the business: Steve Jobs.
Focus on shared values over value proposition
Steve Jobs’ 2005 commencement speech at Stanford seems to have an unlimited shelf life.
It’s the perfect example of why thought leadership often does better than organisation-led communications: it was vulnerable, relatable and authoritative.
While Steve Jobs wasn’t talking about Apple, he was (and still is) the face of it. When such leaders share content, deliver speeches or engage on social media, they’re not just sharing a message: they’re building a community around shared values and interests.
Seeing a relatable (but very successful) human with his own cuts and scrapes share his stories humanises Apple. It’s easier to align yourself with Steve Jobs and his failures than to a sleek laptop.
The video now has 43 million views. Not all those 43 million people will own an Apple product. They might not be in the market for a phone.
Either way, Steve Jobs is on their radar. The 95% are being reached in a relatable way that aligns with their values rather than their purchasing needs.
Mentions of Apple are littered through the speech. From the ‘beautiful typography’ to the ever-growing ‘$2 billion company with over 4,000 employees’, Jobs shares the same core messages that Apple does, in a voice that is more accessible and less corporate.
Same story, different approach – one that is key in an increasingly digital world where buying decisions are founded not just on the value proposition but the values alignment.
Feed the beast. Some algorithms promote thought leadership
LinkedIn introduced Thought Leader Ads and Conversation Ads, encouraging companies to elevate their employees and prompt personal users to share and connect on a wider scale.
Google added an extra element to its Search Quality Rating guidelines that focuses on experience where “content produced by someone who has first-hand, life experience on the topic at hand,” is valued most.
As platforms continue to favour expertise and experience, so should your content.
Thought leadership has to come from someone with something to say, and the expertise and experience to back it up.
Positioning your subject matter experts as reliable sources of industry insights assures your audience that they’re engaging with a voice of authority – as well as playing to the algorithm’s rules.
It’s hard to measure the direct impact of this: trust. But shares, comments, and time spent on articles or videos can show how thought leadership’s reach and resonance can lay the groundwork for future interactions.
In 2024, thought leadership is a must for any organisation engaging on a global stage.
Here are some top examples we’ve seen:
5 Things Stopping Us From Fast-Tracking The Energy Transition — from Dr. Thomas Fritz, Co-Head Climate & Sustainability Europe at Oliver Wyman
What does trust mean when it comes to climate change? — from Martin Baxter, Deputy CEO, Institute of Environmental Management and Assessment (IEMA), and Chair of ISO subcommittee on environmental management systems
Adaptation can help safeguard the blue economy — from Amy Barnes, Head of Climate and Sustainability Strategy at Marsh
Nature: our greatest ally for a net-positive future — from Nollaig Forrest, Chief Sustainability Officer at Holcim