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4 Benefits of Becoming a Thought Leader

Posted by Anne Laffin on March 15, 2019

Thought Leader. You’ve likely heard the slightly abstract, marketing sounding term, but do you know what actually it means? Or maybe you know what it means but you aren’t sure why or how becoming a thought leader could benefit your advisory practice. Either way, becoming an identified opinion leader or go-to person in your field (aka thought leader) can be extremely valuable for a financial advisor.

So should you become a thought leader?  Let’s discuss four benefits to your practice of becoming an expert.

  1. You’ll create an arsenal of content.
    • It’s impossible to become a thought leader without being able to prove you are an expert. So whether you are writing articles for your blog, creating videos for your YouTube channel, or contributing quotes to news publications, thought leadership goes hand in hand with content creation.  Having a stock pile of content at the ready allows you to employ an inbound marketing strategy, where prospects find you through their search efforts or social media.  So put your work to work for you. Not only will it help you become a thought leader, it will help generate new business for your practice.
  2. You will create a following of potential customers and advocates.
    • Experts don’t exist because they sound like everyone else, think like everyone else, act like everyone else. Otherwise, they would just be everyone else. A thought leader is willing to put themselves ‘out there’.  Your potentially unorthodox or out of the box thinking will get other people thinking and talking about your ideas. Nurture that buzz on the worlds large platform for discussion: social media. Promoting your ideas and content through social channels allows you to gain potential access to a wide variety of contacts.  And as you strive to become a thought leader, you will develop a following of people who want to learn from you or be your advocate.  Finding someone who is willing to share your beliefs is almost as valuable as finding a new client.
  3. You’ll be forced to develop a strong brand identity.
    • Thought leaders are not experts in everything. In fact, they have a very clear sense of what they know and do not. Taking a long hard look at where you excel will help you determine: what your practice stands for, what types of clients you want to work with, and what areas you feel most comfortable discussing in your arsenal of content. A strong brand identity will help you focus your marketing efforts, ultimately connecting you with the right customers. As a thought leader, you should be passionate about your brand and your beliefs.  If you aren’t, take another look at why you want to be seen as an expert.
  4. Proof to put in the pudding.
    • As a financial advisor, your clients are trusting you with their life savings and their livelihood. No pressure, but that is a huge deal. The good news is, they want to trust you. And more importantly, they need to trust you in order for you to provide them with the best possible experience. Being seen as an industry expert provides a level of credibility and hopefully comfort with your recommendations that can often be hard to come by.  Your clients won’t have to guess if you are ‘legit’ or pointing them down the right path because you have already publicly established that you are an expert.

Something to think about

So should you become a thought leader? If you are willing to put in the time and effort needed to establish yourself as a true opinion leader, it is a great tool for business and personal growth. 

Not quite ready for a full commitment to becoming a thought leader? No worries. Creating content, having active social media channels, developing a strong brand identity and creating solid relationships with clients is something you should be doing whether you are a ‘thought-leader’ or not. Showing your clients that you are willing to provide them with the best possible service and tools, like RightCapital financial planning software, can help demonstrate that you are their best resource for achieving financial success.

Want to learn more ways to grow your practice? Check out our award winning software.

RightCapital is the leading financial planning software for advisors. Click here to schedule your demo.

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Topics: Practice Management

Written by Anne Laffin