MSMEs & Thought Leadership: A True Balancing Act
Updated: Nov 1, 2022
Every business leader aspires to become a thought leader in their respective field. One with the power to guide people while keeping in mind the best interests of the brand. To define it simply, thought leadership requires having great expertise, strong insight and an amalgamation of knowledge and strategy, to make sure that your brand thrives in the best way possible. After all, thought leaders are masters of climbing the success ladder!
Combining this concept with the widening success of MSMes can work wonders for the economy of our country. It will not only improve employment opportunities but will also give every MSME an equal environment to thrive. But, this needs to be done the right way!
So what is the right way?
Good question! If you haven’t already gone through our blog about Digital Presence and its importance, allow us to bring it to your notice again. Brands are about people, and if you fail to engage them, your marketing efforts will stay limited. In a technology driven world, it wouldn’t be wrong to say that most forms of engagement are happening digitally. This showcases the importance of having a strong presence across digital platforms, if you really want your company to thrive in the long run.
Worry not, we’re narrowing down three main points for you to help your brand reach more people, while also showing the exemplary potential of thought leadership. Let’s have a look.
1. Do you know your customer?
From a wide range of customers that engage with a business, we can narrow them down to two basic categories - internal customers and external customers. Internal customers are the ones who you regularly interact with within your company, aka your employees, the HR team, etc. But a much larger group of customers - the external ones- are not always able to experience your services first hand. Therefore, you need to build a strong presence online. Think smartly, narrow down the criteria of what external customers you want to serve, then go and connect with them through social media platforms.
2. Balancing the “Me” and “You”
It is as important for your products/services to reflect your customers’ demands as it is to reflect your brand’s persona. A recent research states that 92% of customers consume content that they can relate to. So, once you have decided to build a digital presence, make sure your content speaks to your customers.
3. What’s your budget?
Lastly, determine your budget. Have a look at what your total budget is and then think about how much you want to spend on digital marketing. It should be done according to the type of brand and the people that are being targeted.
We hope these points will help you start to build a digital presence! The quick wit of thought leaders and the strong presence of digital marketing can do wonders for MSMEs, don’t you think?