We’ve arrived at the final article in our series for franchise business owners about how to achieve the top business goals for 2023. If you missed any articles in the series, we’ll share them at the end. But for now, it’s time for us to dive into thought leadership. 

Becoming a thought leader can take your franchise business to the next level. Thought leadership is about establishing yourself as an authority in your industry, sharing your ideas and insights with others, and contributing to the ongoing conversation in your field. When done right, you will become the ‘go-to’ source when people have questions about your industry or area of expertise. So how do you do it? That’s what we’ll talk about today. This article will explore what thought leadership is, how to expand it, how to create a thought leadership strategy, and why it’s essential for franchise business owners.

What Is Thought Leadership? 

What Is Thought Leadership? definition of thought leadership

Thought leadership is a concept that has gained a lot of traction in recent years, especially in the business world. Simply put, thought leadership is the process of establishing yourself as an expert or authority in your industry. It’s about being recognized as someone who has unique insights and perspectives that can help others.

Thought leadership can take many forms, such as publishing articles, speaking at industry events, hosting webinars or podcasts, and creating social media content. Thought leadership aims to build trust with your audience and establish yourself as a go-to resource in your industry.

Why is Thought Leadership Important for Franchise Business Owners?

In the franchise business world, many competitors are often vying for the same customers. By establishing yourself as a thought leader, you can set yourself apart from the competition and build a loyal following of customers and partners.

Thought leadership can also help you stay ahead of industry trends and changes, which is critical in the fast-paced franchise industry. By staying up-to-date on the latest trends and sharing your insights with others, you can position yourself as a leader in your field and stay ahead of the curve.

Thought leadership matters, especially to decision-makers. Research indicates that decision-makers engage in 3-5 pieces of content before talking to a salesperson. This could include: 

  • Videos
  • White papers
  • Blogs
  • Webinars
  • Case studies
  • Research/survey reports
  • E-books

In other words, decision-makers will evaluate your content to determine if you know your area before they decide to do business with you. They engage with your content to see if you are a thought leader.

In a recent survey, two-thirds of marketers (66%) considered thought leadership a top priority. However, only 26% believe their program is “very successful.” This means that if you understand how to do it (and do it well!), you can quickly rise above the competition in your industry or market.

5 Ways to Expand Your Thought Leadership

Now that we’ve discussed what thought leadership is and why it’s important, let’s dive into some practical tips for expanding your thought leadership.

1. Start a Blog or Podcast

Expand Thought Leadership - start a podcast

One of the most effective ways to establish yourself as a thought leader is to start a blog or podcast. This allows you to share your unique insights and perspectives with a wider audience and establish yourself as a knowledgeable and trusted source.

When creating content for your blog or podcast, focus on providing value to your audience. Share your experiences, best practices, and insights that can help others. Promote your content in your email and on social media to reach a wider audience.

2. Speak at Industry Events

Speaking at industry events is another effective way to establish yourself as a thought leader. This lets you share your insights with a live audience and network with other industry professionals.

To get started, research industry events in your area and submit proposals to speak. Focus on relevant topics to your audience and showcase your unique expertise.

3. Publish Articles and Whitepapers

Publishing articles and whitepapers is another effective way to expand your thought leadership. This allows you to share your insights with a wider audience and establish yourself as an authority in your industry.

When creating content, it’s essential to consider what your target audience finds helpful and engaging. Share your best practices, industry trends, and insights that can assist your customers in solving their problems or achieving their goals.

4. Engage on Social Media

Thought Leadership Tips and Strategies - social media

In today’s digital age, social media has become a crucial tool for franchises to establish themselves as thought leaders in their respective industries. By leveraging the power of social media, franchisees can connect with their customers, share their unique insights and perspectives, and ultimately elevate their brand reputation.

To make the most out of social media, franchises must first identify the platforms where their customers are most active. Once you’ve chosen your platform(s), create original, engaging content that resonates with your target audience. Consider industry trends, share best practices, and provide valuable insights to demonstrate your expertise and thought leadership.

5. Collaborate with Other Thought Leaders

Collaborating with other thought leaders in your industry can help you expand your reach and credibility. Look for other experts with similar views or complementary perspectives and explore opportunities to work together. This could involve co-authoring a blog post or whitepaper, hosting a podcast together, or collaborating on a research study. Working with other thought leaders allows you to tap into their networks and gain new followers while expanding your expertise and knowledge.

Creating a Thought Leadership Strategy

Thought leadership strategy

Expanding your thought leadership requires a strategic approach. Here are some key steps to create a thought leadership strategy:

Define Your Audience

Defining your audience is the first step in creating a thought leadership strategy. Who are you trying to reach with your thought leadership content? What are their pain points and challenges? By understanding your audience, you can create content that resonates with them and establishes your franchise as a go-to resource.

Set Goals and Objectives

Next, set clear goals and objectives for your thought leadership strategy. What do you want to achieve through your thought leadership efforts? Do you want to increase your visibility in your industry, generate leads for your business, or establish yourself as an expert in a particular area?

Identify Key Topics and Themes

Identify key topics and themes relevant to your audience and your business. What are the most pressing issues and trends in your industry? What unique insights and perspectives can you offer on these topics?

Create a Content Plan

Once you have identified your key topics and themes, create a content plan that outlines the types of content you will create and how often you will publish. This could include blog posts, podcasts, videos, whitepapers, and social media content.

Promote Your Content

Finally, promote your content through social media, email marketing, and other channels. Engage with your audience and participate in industry conversations to build your reputation as a thought leader.

Grow Your Thought Leadership Now!

What Is Thought Leadership? Tips and Strategies for Franchise Business Owners start now

Establishing yourself as a thought leader is a powerful way to set yourself apart from the competition and build a loyal following of customers and partners. You can become a knowledgeable, trusted go-to resource in your industry by sharing your unique insights and perspectives.

This concludes our series for franchise business owners about business goals. If you missed any article in this series, you can catch up below: