19 Jan Thought Leadership Market Research: Staying Relevant in the Future
Thought Leadership Market Research: Staying Relevant in the Future
Any company that understands the marketplace better knows its customers and the business, innovates continuously is considered as a thought leader. Thought leadership and its growing influence on corporate agenda are increasing in the recent years. Thought leadership enables the company to market itself better and improve brand image. It is a product of both the employees and the management committing to a deeper understanding of the forces responsible for shaping the company.
Thought leadership was first mentioned in the early nineties by Joel Kurtzman and defined as “futurist and known as a product or service that can have a huge impact on the society”. Thought leadership is becoming increasingly relevant due to the spread of the internet and social media.
What is thought leadership?
A thought leader is any person or company that is recognized as a leading authority in its field and when an industry seeks its advice and expertise. These are the people or companies who are sought for their opinion on the industry related events. Thought leaders act as a trusted source of information and they are an inspiration to the future generation to generate new ideas and foster innovation.
Thought Leadership and Market Research
Whenever any market research company conducts market research about a particular product/service/business, it requires the expertise and knowledge of thought leaders in that particular field. These thought leaders can provide valuable inputs to the research that can then be added to the research findings. These research findings are then analyzed and then relevant reports prepared for the companies to take suitable decisions. Generally, chief executive officers [CEOs], chief financial officers [CFOs],
Directors, UNHWIs or ultra high net worth Individuals and stakeholders in that industry are sought for their opinion and expertise and these are considered as thought leaders. Thought leadership inspires the customers and partners to connect with the company in meaningful ways. Recognized thought leaders play a crucial role by expressing their opinion and sharing their ideas on their areas of expertise. Such sharing of views and opinions by thought leaders enable market research companies to prepare reports about the particular industry.
In order for thought leadership market research to be implemented effectively, there has to be a thorough analysis to derive meaningful insights. Effective thought leaders demonstrate their influence in a combination of offline and online media platforms such as Facebook, Twitter, online blogs, and LinkedIn as well as writing for industry journals and speeches at industry association meetings. This enables the enhancement of visibility, reputation, and social influence of such thought leaders.
Thought leadership market research agencies usually specialize in areas such as private equity, mergers, and acquisitions of companies, economic outlook, banking, finance & insurance services, and so on. Thought leadership if effectively applied can be a marketing strategy to improve growth to the next level.
Thought leadership market research services providing agencies make sure that the research produces contents that are more actionable and such reports display the depth of knowledge of the company to be truly called as a thought leader.