According to Go-to-Marketing Strategies author Steven Van Yoder -

• Thought leadership centers on sharing your knowledge and giving your expertise generously and frequently in a variety of formats.
• Thought leaders position themselves as centers of influence who are always “present” within their target markets. Seek opportunities to be seen, read, and heard on a regular basis by the people who matter most to your company.

Since thought leadership was explored at this fall’s Demand Analytics Conference in New Orleans, we’re seeing an a great deal of buzz around the concept of thought leadership across various industries not just in the Consumer Packaged Goods. In fact, we’re seeing a movement among leaders in respective fields that explore what makes a thought leader in an organization? We discovered some important points:

1. Be assessible and freely share best practices to those in your department or field – in today’s competitive economy where every job is on the line, individuals may be afraid to collaborate or offer insight that could help another person in their organization for fear of losing value if they do. The total opposite is true. You can ensure your ‘thought leadership status’ by authoring documents and getting your ideas in front of people. By holding back, you cannot be successful – no one even knows you exist.
2. Establish yourself as an expert – Anyone who feels shy, timid or afraid to share ideas need not apply. To establish yourself as a thought leader you must be front and center. If you aren’t easy with putting yourself out front, start by establishing social media and small speaking engagements within your organization. Once you find your groove, you’ll feel more comfortable presenting your ideas to larger audiences. There’s no easy way to becoming a thought leader, either way you slice it… it takes time.
3. Deliver value to your organization – Always being aware that the information you bring to an organization should offer some kind of value i.e. increased productivity, better customer relations, reduced inventory, enhanced ROI. The goal is to define the value when presenting your ideas to upper management to be seen as a thought leader. Most high-level executives want the bottom-line right up front.
4. Promote innovation and align with your company’s vision – Thought leaders are always aware of innovative new technologies and ideas that can align with the company’s vision. This may be in the form of analzying or introducing new software, new business models or new products. Again, the idea is to lead your peers and fuel innovation and growth that contributes to a sustainable future for the company.

Thought leadership is an increasingly vital driver of business success.The term was first coined in 1994, by Joel Kurtzman, editor-in-chief of the magazine, Strategy & Business. The term was used to designate interview subjects for that magazine who had contributed new thoughts to business. There isn’t a better time than now to become a thought leader and deliver valuable insight in helping your company evolve.

1. Encourage Ideas
2. Designate Creative Time
3. Have a Submission System
4. Keep Track of Current Trends
5. Combine Need and Technology
6. Implement and Incentive Program
7. Communicate

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1. Encourage ideas
   Ideas are the foundation of creative innovation! Encourage creativity and be receptive to all ideas- even if they aren’t that great. Employees should never feel embarrassed or afraid to submit their thoughts or creative suggestions. It only takes one idea, good or bad, to be the starting point of something big.
2. Designate creative time
   While it’s certainly not cost effective to let employees sit around all day staring into space while they dream up the next great invention, it IS a good idea to set aside some time to let the creative juices flow. Whether it’s once a week or once a month, designating a certain amount of time for employees to brainstorm and share ideas is a great way to promote creative thinking.
3. Have a submission system
   Good ideas will never grow into something tangible if there isn’t a process to keep track of them, so adopt a system for employees to use in order to submit their ideas. This system will keep submissions from getting lost in the shuffle, and will make sure that they reach the appropriate department that can make the necessary steps to bring the idea to fruition.
4. Keep track of current trends
   Sometimes good ideas are not altogether new- they are simply inspired by a product or practice that already exists. Keep track of what other businesses in your industry are doing; know what works; know what has already been tried, whether or not it was successful, and why.
5. Combine need and technology
   New and improved technology is being produced at an increasingly rapid rate. However, if it were to no one’s benefit, what would be the point? Make sure your team knows where innovation is needed most within your industry, and keep them up to date on current technological trends. This information can then be used to your company’s benefit, as your team can effectively combine all this new, advanced technology with the existing needs of your target audience. Be sure to look for technology that can drastically improve efficiency. In times of economic turbulence, improving productivity is the key.
6. Implement an incentive program
   Use an incentive program (which does not necessarily have to include monetary compensation) to motivate your creative team. Recognizing staff members for innovative thinking can go a long way, and rewards based upon various levels of achievement are always a great way to encourage hard work and promote employee loyalty.
7. Communicate
   Communication is extremely important. Listen to your consumer and be aware of their current needs and wants. Make sure that the lines of communication are open between staff members, C-level leaders, and vendors. When employees are appreciated and acknowledged for bringing valuable innovation and profit to your company, they will be motivated to continue on the path of creative thinking.

” 64% are purchasing more generic brands
” 47% are brown-bagging lunch instead of purchasing it
” 43% have been going to the hairdresser/barber/stylist less often
” 36% have switched to [a] refillable water bottle instead of purchasing [a] bottle of water
” 34% have canceled one or more magazine subscriptions
” 22% have cut down on dry cleaning
” 21% have canceled a newspaper subscription
” 21% have canceled or cut back cable television service
” 20% have stopped purchasing coffee in the morning
” 15% have changed or canceled cell phone service
” 14% have begun carpooling or using mass transit
” 12% have canceled landline phone service and [are] using only [a] cell phone

There are many differing opinions about how much longer this recession will continue. On a positive note, experts have

begun to see noticeable differences in profit outlooks- predominantly in retail stores. For instance, companies like Kohl’s, J.C. Penney Co., and Target were able to boost their projections after September’s back-to-school sales were more successful than expected. And last month, for the second month in a row, the retail market achieved earnings that were greater than original predictions, with the most significant profits since July 2008. Even so, the decreases in consumer spending habits aren’t likely to radically change soon. As the holidays are fast approaching, companies are strategizing on how to make the most of our current situation and see an increase in profits for the upcoming season. Here is an excellent example of how to accomplish this:

The frugal consumer is always looking for a bargain. Go beyond “On Sale.” Offer significant savings in valuable coupons, freebies and samples. Building an email database is an indispensable tool for companies to send special savings codes/coupons/vouchers to customers. Emails save money and is a much more “green” sales approach. They eliminate the need for postage and paper. They drive website traffic. And for companies that offer e-commerce, providing coupon codes eliminates trips to the store, saving the customer’s gas. (This is something that can be pointed out to them, too.) Sales are rampant during the holidays and can get to be so common that they don’t stand out to the customer. Special promotions with an expiration date- that can be applied on top of an already existing sale- create a sense of urgency and give the customer a reason to shop at a particular store. Allowing customers to pass along these savings to their friends and family is simply free, positive word-of-mouth advertising that generates more sales and increases a company’s loyal customer base.

Especially during this time of year, companies having access to real-time data will have a crucial edge in answering the W’s- who, what, when, where, and why. These companies will be the true industry leaders of tomorrow. Soon, it will be possible to have real-time information in the palm of your hand; but until then, you too can be a thought leader by staying abreast of the latest demand data trends facing the consumer packaged goods and retail industry.

The second E is empowering the supply chain. The information Retail Link provided would allow Wal-Mart’s suppliers to make adept changes when necessary to sell better. Suppliers have a better understanding how their products perform, and can be ready to make changes to perform better. It helps suppliers move more of their products and Wal-Mart’s cash registers to keep gathering money and data at a furious pace.

This symbiotic relationship is the nature of the third E: extend. The whole point of Wal-Mart’s empowering of their supply chain with massive amounts of demand data is so that the product sales of the supplier can be extended. Wal-Mart’s offer to producers: use our data management system to figure out the most efficient way to sell your product, cut your costs on the production and distribution end, cut your prices to us, we will cut costs to customers, and thereby we will aggregate an even greater number of customers to buy even more of your product.

Wal-Mart is a fairly nuanced example, but it isn’t difficult to see the path on which the three E’s can take any company. Gathering demand data early and in real time is important, but companies will have to use that data wisely after the gathering. Embracing the supply chain, empowering your business partners and extending the profitability of all parties involved is a proven way to grow business, and actionable insights on demand data is the resource to make it happen.

Learn more about Author Ron Bienvenu’s discussion on the Four E’s and The Fourth Shock.

Use truthful advertising
The advertising industry has often been criticized for making inaccurate or exaggerated product claims. Because this is the age of the empowered consumer, and information can be accessed instantaneously, honesty and brand authenticity are utterly essential. For today’s buyer, authenticity is the equivalent of truth. What with our present economic situation, topped with widespread skepticism in the wake of political misconducts and corporate corruption, the general public is exhibiting intolerance for fraudulence and deceit. If a product or service is imperfect or has a potential drawback, it is much more appropriate and beneficial to use skillful tact to share this with the public. Instead of faking it and getting caught, use sincere, heartfelt, and genuine advertising to market your business; because buyers’ negative opinions can be brutal, and word-of-mouth (WOM) travels much faster these days.

Make contact
A key step to building and implementing a brand is establishing and maintaining a personal contact with the buyer. “Personal contact” translates as people talking to people. (This does not necessarily mean going door-to-door or making personal calls. However, when done correctly that approach probably won’t hurt.) These days, the approach that can hurt is the more aloof, automated messaging and answering systems that have become so common. Especially during a recession, people are more critical about when, where, and what they buy. Instead of relying solely upon automated methods, businesses using emotional advertising and creating emotional ties- making buyers feel special with personal contact- are unquestionably strengthening seller/buyer relationships and consumer loyalty. Companies should take the stance, when it comes time to close a sale, that there is no substitute for personal contact- whether that be WOM, a phone call, a handshake, paying a visit, social bookmarking, etc. Each new prospect or returning customer should be considered a potential brand advocate. From a business standpoint, customers should be thought of as an asset- like gold. And even if they are not “right,” they should always be treated “just right.”

Guided Innovation
Trying to understand and meet buyers’ needs does not have to be like trying to find the fountain of youth. Better understanding the general public will help business owners, advertisers, and marketers to find ways to relate to their target audiences. What do we know about people today? We know they desire honesty in the corporate arena and integrity in the government. They want healthier, more wholesome, less-processed foods. They want to return to the basics, make life simpler, and spend more time with family. By merging brand strategies with consumer insights, it becomes much easier to provide desired products and services. It’s also easier to create advertising and branding messages that the consumer will be interested in- because what is being said will be profoundly relevant to them. Simply knowing the consumer can facilitate a company’s ability to launch the right ad messages at the precise time, and use the right media in the precise place, to phenomenally increase sales. This is called guided innovation, and it is crucial to the success of marketing efforts of the future. 1.) Relate to the consumer. 2.) Stay true to the brand. 3.) Combine those basic elements to develop consumer-desired products and services.

Pinpoint the W’s: Who is going to buy what, when, and where
Finding the answers to the W’s has plagued marketers, advertisers, and business owners alike. This is one of the most beneficial ways having access to real-time data can benefit these decision makers. Making educated guesses and assumptions based upon data that’s a week old or more is not the most efficient way to run a business. Having immediate access to why consumers go to a particular location and choose one promotion or brand over another allows marketers to provide consumers with the exact products, promotions and services they desire at that moment. The companies who are leaders in pinpointing the W’s will be forerunners in their industry, have greater market share, and own more space in their category.

Nowadays, people have become tired of an overabundance of advertising messages, tricks and gimmicks. People do not like having products pushed on them. They want to select their own purchases and make their own choices. Sellers must learn how to cater to a buyer’s proposition instead of the other way around. Ongoing brand development is crucial in establishing a rapport- between seller and buyer- that is based on the buyer’s ability to make choices. Whether or not a company delivers on promises made through its brand directly affects a continued seller/buyer relationship.

Moreover, social media has given the general public a voice. People are tech-savvy; they can and will “Google,” “Yahoo,” “Facebook” and “Twitter” (just to name a few) anything and everything. It is the age of the empowered consumer. A lot of companies truly fear this, as consumers’ word-of-mouth power can potentially do one of two things: it can build up a business, or it can destroy it. Because of this new power, it is imperative for business owners to recognize the significance and real value of brand development as it correlates to both obtaining and retaining customers.

A brand and how it is accepted by its target audience is an exceptionally valuable marketing tool. The proper development and execution of a brand is definitely not the same as the use of tactical marketing. Brand implementation should be consistent and comprehensive, almost holistic in nature; it should inspire loyalty and stir up emotion. In truth, people come to love their favorite brands because they can identify with them. Brand solidity, and what it symbolizes to its target audience, is comforting. Also, people relate to others through brands: clothing, cars, sports equipment and apparel, cosmetics, appliances, etc. In essence, people become their brands. The power of a brand, and the strength of the customer/brand relationship, creates a powerful incentive for a buyer to remain loyal to a product or company.

A brand that is implemented effectively should not rely on tactical marketing, tricks and gimmicks. Instead, a brand should be built on a foundation of trust and reliability. It should spark a sense of pride and loyalty within the buyer, which plays a central role in strengthening a lasting seller/buyer relationship. Successful brand development is ongoing; it secures buyer loyalty and promotes brand advocacy. Without that, all that a company has to rely on are purchasers who may or may not come back for return business.

A keen sense of the obvious doesn’t make someone a visionary. And the “obvious” today is that there are 4.1 billion active mobile phone subscriptions and this will have an impact on the way the world works. To compare this staggering number, there are approximately 850 million active personal computers, 1.5 billion televisions, 1.5 billion Internet nodes and 1.4 billion credit cards in use in the world today. read more…

About the Author

From his early years growing up in a small town in Louisiana through two software start-ups and a hostile takeover on Wall Street, Fourth Shock author Ron Bienvenu has always been deeply involved with technology and its impact on the world at large. As current CEO of alqemyIQ, he continues to shake the business world by delivering cutting edge technologies to mainstream markets.In 1988, he founded his first successful software company, while his second company, SageMaker, became a global provider of knowledge management solutions for some of the largest organizations in the world. During his varied career he has led a division of a public company with more than 2,000 employees and over $500 million in sales, served as the lead investor in a hostile takeover attempt of a public software company, been involved in over 50 public and private M&A transactions, and raised over $250 million in various financing ranging from venture capital to senior secured debt. He is the author of numerous articles and has been an active participant in the lecture circuit since 1996. His comprehensive view of the industry and his unique way of looking at the world gives him interesting and relevant insights on the impact of new technologies on every aspect of business.

alqemyiQ (a.k.a. DataAlchemy) will introduce educational opportunties in the near future for category managers to capture new trends that will be shaping the industry. This is an important step as the company launches its new vision for the future.