The Economist Group recently published a report that provides several interesting perspectives on the development, use, and effectiveness of thought leadership content. Thought leadership disrupted: New rules for the content age is based on a survey (conducted in association with Hill+Knowlton Strategies) of 1,644 global marketing and business executives that was fielded in April 2016.
Survey responses were segmented based on whether the respondents were marketers (those who plan, develop, or manage thought leadership content) or executives (those who consume thought leadership content). In this post, I’m focusing on the survey data relating to executive respondents.
To set the stage for the data, it’s important to understand how The Economist Group defined thought leadership. Here’s the definition the firm asked survey participants to read before they took the survey:
Collect and act on NPS-powered customer feedback in real time to deliver amazing customer experiences at every brand touchpoint. By closing the customer feedback loop with NPS, you will grow revenue, retain more customers, and evolve your business in the process. Try it free.
“Thought leadership is the practice of influencing a community of interest by developing information, analysis and insight that helps its audience understand its world and plan for the future. It can be delivered through any medium, and can help companies raise awareness, shift perception and increase the status of their brand.”
Obviously, this definition is fairly broad, and it gives survey respondents some room to apply their own interpretation of what constitutes thought leadership.
Executives are Becoming Selective
More than two-thirds (68%) of executive respondents said they consume thought leadership content at least weekly, and almost as many (63%) said they have increased their consumption of thought leadership content over the past 12 months. But 75% of the respondents also said they have become more selective in their content consumption over the past 12-24 months, and 82% said that the volume of thought leadership content available is what has made them more selective.
The increased selectivity on the part of executives has made it harder for marketers to create break-through thought leadership content. Surveyed executives reported that, on average, they engage with only about 25% of the thought leadership content they see every day.
What Drives the Consumption of Thought Leadership Content?
The Economist Group also asked executives to identify three factors (from a list of 15) that drive their consumption of thought leadership content. The following table shows the top five consumption drivers chosen by the surveyed executives:
What Makes for Good (and Bad) Thought Leadership Content?
When executives were asked what qualities made thought leadership content compelling, the most popular qualities were:
- Innovative (40% of respondents)
- Big picture (36%)
- Transformative (36%)
- Credible (35%)
Top image courtesy of Abhijit Bhadurl via Flickr CC.