Your Thought Leaders Should Be Thought-Provoking. Here’s How to Make It Happen

All corporate leaders strive to establish themselves as experts in their industry. This is especially important in healthcare, digital health, life sciences, and any market that’s both segmented and competitive. Demonstrating an understanding of foundational topics as well as the latest trends shows that a company has unique expertise and can be a trustworthy partner.

Of course, there’s a fine line between thought leadership that sounds authentic and thought leadership that sounds like a product pitch. While authenticity sounds genuine, a pitch suggests that an executive can’t add much to the conversation beyond the stock set of corporate talking points.

It takes time to develop a cogent thought leadership platform. Companies need to identify who has the expertise to talk about what – and ensure they’re comfortable speaking with the media or otherwise having their name in print. That said, a thought-provoking thought leadership platform is worth the effort, as it gets people talking about a company for all the right reasons.

Why thought leadership matters for health and life sciences

Companies in healthcare, digital health, and life sciences benefit from demonstrating that they understand the impact of emerging trends that can range from artificial intelligence to the impact of new cancer therapeutics. News publications need objective sources who can address these topics in news articles, podcasts, or bylines. Companies that can call upon their internal experts quickly and reliably when reporters or editors ask can boost their visibility with little money spent.

As the term implies, though, the most effective thought leadership should be thought-provoking. A company and its leaders need to get ahead of – or define – a trend, not ride its coattails. A company should take a unique or firm stance, not merely echo what others have already said. Leadership should articulate a value proposition or general benefit, not get into the weeds discussing their latest product.

When thought leadership is done right, it shows that a company and its executives understand the market segment they’re in. In industries that grow rapidly and pivot frequently, this allows a company and its leaders to show why it would be a good long-term partner.

The three steps to building a thought leadership platform

Before companies can begin to tout themselves as thought leaders, they need to know what they can say, who can say it, when they should say it, and to whom they want to say it. This process will ultimately look different for every company, but it consists of three general steps.

Build a bench of experts. A company should have multiple subject matter experts (SMEs) with personal and professional experience to address emerging topics. Many will come from the C-suite, but others may come from different roles, especially when technical, scientific, or medical expertise is a key part of the conversation. It’s also important to identify up-and-coming leaders who can address emerging topics that the executive team is less comfortable speaking to. This lets a company still be part of the conversation – and helps raise the profile of younger employees.

Tease out experts’ perspective. Once SMEs are identified, it’s time to get to know them. First, have both guided and off-the-cuff conversations with each SME to learn about their current and former roles. Then, use this information to build a profile for SMEs, matching their expertise to topics that continue to make headlines. Pay particular attention to SMEs who have points of view that are unique, forward-looking, or otherwise contrarian compared to what the rest of the industry is saying, as this increases the odds that a publication will be interested.

Plan for the long game. Thought leadership is much more than placing a byline or getting quotes in a piece. The long-term goal is establishing a company and its SMEs as reliable sources of expertise. Pitch SMEs as valuable contributors to editorial calendars, conference agendas, or other opportunities to speak. Don’t forget the value of making introductions to reporters and editors who cover the specific topics an SME knows well. Even if they can’t connect immediately, this helps establish credibility and build a long-term relationship.

Avoid the most common thought leadership missteps

Just as every company will have a unique approach to building a thought leadership platform, there’s no template for strengthening that platform and promoting thought leaders in the press or on social media. That said, there are three common practices to avoid.

The piggyback. Most journalists have lost count of how many times they’re received a pitch to speak to a company’s leaders about a topic when they quite literally just published a piece on the same topic. (In the old days, we’d say it was “before the ink was even dry.”) This doesn’t help build thought leadership, as the company is chasing old news that’s already out there. In these situations, it’s important to think like a reporter: What’s the new angle, and what can a thought leader say that no one else has said yet?

The square peg in the round hole. No one wins when a company sends out the wrong SME to talk about a topic. This could be an MBA trying to discuss science, or an MD stumbling through a conversation about business strategy. This hurts for a few reasons. It comes off as ill-informed, and it suggests a company may not be an expert after all. It also hurts the long game; a publication that remembers how poorly the first interview went isn’t likely to want to schedule a second one.

The ever-present product tie. Thought leadership is less about what you do and more about what you know. Not every conversation needs to mention a company’s latest product release or service offering – especially if a thought leader is offering commentary on breaking news, regulatory policies, or other topics where objectivity is key. The more a publication hears about a product, the less authentic the interview becomes – and the less material the publication can include in its piece.

Companies benefit from demonstrating their expertise on the topics that are on everyone’s minds. However, they must recognize that cultivating thought leadership won’t happen overnight and won’t immediately increase website traffic or sales.

Knowing how to strategically identify the right SMEs to speak to trending topics will help companies prepare to pitch themselves at the right moment while establishing credibility and authenticity in the long run. And that will provide the boost that will help a company stand out from the pack.