Introduction to the Attention Podcast
00:00:03
Speaker
Welcome back to the Attention Podcast, where you learn how to gain and retain the attention of your buyers to build an audience.
Interview with Pete Larkin on Thought Leadership
00:00:10
Speaker
I'm Dan Sanchez with Sweetfish, and today I interviewed Pete Larkin, who is the Senior Director of Marketing at Angle Point, about the power of thought leadership in B2B audience growth. In the episode, we cover the definition of thought leadership, his four quadrants on how to develop thought leadership, and how thought leadership impacts audience growth.
What is Thought Leadership?
00:00:30
Speaker
All right, let's get into it.
00:00:35
Speaker
Pete, welcome to the show. Hey, thanks, Dan. I'm excited to be here, man. So I'm excited to talk about this topic. It's one of those topics that's kind of like near and dear to my heart, even though so many people around the world call the topic of thought leadership is kind of cringy. Some people love it. Some people hate it. Some people actively fight against anything that smells of thought leadership. But it's funny to me because it seems like even though a lot of people are confused by what it is,
00:01:05
Speaker
it's still an active ingredient that a lot of people are using in their B2B content marketing. And every time I hear Chris Walker say demand gen, I'm like, yeah, but really, I think you mean thought leadership. You're generating demand through thought leadership. So I wanted to kick it off by asking you like, even before we jump into what I had as my first assigned question for this interview is how do you P define thought leadership?
00:01:30
Speaker
Yeah, man. And I love listening to you and your guests talk about thought leadership. I'm such a student of the topic and especially in B2B marketing, what that means. And so for me personally, as I'm still kind of in this journey of kind of
00:01:49
Speaker
defining and redefining and learning and adding upon what this definition is to me. Thought leadership is the ability to have something original to share, something unique to offer, but also a deep expertise in your particular field, but then also building authority and audience in your particular field where you become a trusted source
Types of Thought Leaders
00:02:16
Speaker
But I think there's a little bit of nuance when you're talking about those who are seen as trusted sources on a particular topic and those who are real visionary experts in their particular field that are leading change and leading industries to evolve to the next step or the future of that particular space.
00:02:41
Speaker
And so to me, a visionary thought leader is someone who is original, has unique things to say, has deep expertise, has authority, and who has an audience. You can't be a thought leader if there's nobody there to follow or following you, that is. You said there's some nuances there. What do you think some of those nuances are that are commonly overlooked?
00:03:02
Speaker
And specifically a little bit of the nuance between thought leader and what I would term as a visionary thought leader. I think there's just a slight nuance there. And maybe I'm wrong and maybe I'm just kind of on my own thing here. My personal perception of this is that there could be people who have audience that people look to as experts in a space and who get valuable information from them, but aren't necessarily evolving the industry, exploring new
00:03:32
Speaker
new and undiscovered paths and who are really leading people into new territory. And so there's kind of that component of the progress and innovation in a space that it's necessary to have a unique vision of where things are
Examples and Challenges of Thought Leadership
00:03:53
Speaker
gonna go. So that's a little bit of the kind of the nuance that I see there.
00:03:56
Speaker
I love words, I love the nuance, I love properly defining things so we can even be on the same page as far as what we're talking about. What do you think the gamut is? Because I feel like there's thought leaders, but then there's other things and they're worthwhile things. I wrote a book.
00:04:13
Speaker
on thought leadership, maybe a year ago, I can't remember, I think it was called like the ideas marketplace or something like that. And they, the whole book when used two different terms to create a juxtaposition, there was thought leaders and then there was, it was a public intellectuals.
00:04:29
Speaker
who are also experts and they have authority, like they actually have an audience. You think of like some journalists or columnists can be public intellectuals, but they don't offer new ideas. They don't do what you were calling a visionary thought leader. They're not leading a new direction. They pretty much just criticize other people.
00:04:47
Speaker
people, which is honestly, that's a needed thing. What else, who else do you think is out there? So public intellectuals might be a known space. What else do you think is out there that are like close to thought leadership, but not quite thought leadership? Yeah. Yeah. I'll give a quick example. And I don't, I don't want to use his real name because I don't, you know, I don't want to talk bad about anybody. I'll call him Kyle.
00:05:11
Speaker
Sorry to tell you Kyle's out there. So Kyle, a particular individual in MySpace, in the world of IT asset management, software asset management world, it's a pretty unique and niche space. But this individual, he is
00:05:28
Speaker
seen as, quote unquote, thought leader. He has a pretty good audience. He's sharing his expertise and people are looking to him for that expertise. And he has some pretty good things to say. Sometimes in all reality, he's just kind of regurgitating what everybody else says, but he has an audience that's larger
00:05:51
Speaker
And so he is perceived more as the thought leader because he has the combination of expertise and audience, but it's not like anything necessarily that's groundbreaking. It's not anything that's evolutionary. It's not anything that really drives any particular new and interesting thought that he's not really helping the industry evolve. It's just pretty good stuff, but also
00:06:18
Speaker
for other experts in the space, it's like, I've been saying that for years. We've been talking about this for a long time. You just have a bigger audience. And so you're considered to be more of a thought leader and people are following you for what you're sharing, but it's kind of a little bit vanilla to the other experts of the space.
00:06:40
Speaker
What would you call that person? Still working on that one. I would consider them like absolutely an influencer and I consider it like if you look at kind of three different levels from the bottom of someone who has audience but maybe they're not necessarily groundbreaking. They're the kind of audience builder, influencer,
00:07:01
Speaker
thought leader and then visionary thought leader.
The Quadrant Model of Leadership
00:07:05
Speaker
And I think that that person fits somewhere between influencer and thought leader, but not necessarily like that peak top level visionary thought leader. Man. I mean, and sometimes those people like at the worst end are charlatans, right? Right. They're masquerading, they're pretending, even stealing other people's intellectual property and calling it their own. Yeah, intentionally or unintentionally.
00:07:31
Speaker
Yeah. Right. Sometimes they're doing it on purpose. Sometimes they don't realize that that's what they're doing. Or on the best side, maybe they're giving credit to where credits do, you know, so they're properly footnoting all their stuff. That would be, that'd be okay. But they're just better at doing it because there's a lot of experts, even in the academic world, this happens to like where there's people with PhDs and they actually bring some groundbreaking research. But I don't know if you've ever read it like a doctoral dissertation. They're just like freaking, you want to gouge your eyes out afterwards.
00:08:00
Speaker
It's like so hard to read and consume the material and most academics like suck at creating content that's consumable. Hence, and I know a Harvard Business Review, like everybody who's not an outside contributor, like for people who are like PhDs in Harvard, they have ghostwriters writing all their stuff.
00:08:18
Speaker
because they can't write for the medium. Yeah. And it's funny that you talk about, especially about academics. I'm a adjunct professor and some of the full-time professors that I speak with and talk with, I'm just like, man, this is so boring.
00:08:34
Speaker
And then I don't actually have my MBA yet. I know for a lot of schools that's a necessary, or sorry, your master's, but I'm currently, I was just accepted to an executive master's program, which I'm looking forward to. In preparation for the interview that I was having with the school, I knew who I was going to be meeting with. So I went through and I started looking at all of their, the articles and publications that they have in different journals and whatnot.
00:09:01
Speaker
started reading through those to make sure I was properly prepared for that interview. And holy cow, man, I'm like, if these are the classes I'm going to be taking, count me out because this is dry, boring, man, like I'm going to die right now, like I'm so bored. But luckily, the interview itself actually was fantastic. So I give them a lot of credit and I'm looking forward to the program. But man, I tell you what, some of that writing is just so boring.
Trust in Thought Leadership and Marketing
00:09:30
Speaker
Oh man, it's bad. I mean, they have their own language and fields, right? In academia. They're not writing for normal people. They're writing for other academics. Even in the business academia world, they're writing for other academics. You're like, eh.
00:09:43
Speaker
There's a place for it. It can't keep up with business too well, but at least, you know, people are like, Oh, who's, I don't know. And this happens in thought leadership all the time, right? Where thought leaders are putting forward ideas that are somewhat untested, right? Or maybe it worked for them, maybe in a few other, their clients or whatever, but it's still set in a small particular industry. Academia will always come behind the biggest ideas and you know, actually do the proper research to validate whether it works, but it's usually 10 years.
00:10:08
Speaker
behind, right? Hence at least I did my marketing degree, I don't know, four years ago, and it was just starting to talk about Twitter and Facebook.
00:10:19
Speaker
You're like, yeah, those are kind of on their way out right now. Social media, broadly, in general language, I was like, okay. So there's lots of different shades of gray when it comes to thought leadership. And it's kind of interesting as language is being developed about how to define different people within the gamut of thought leadership and influencer and coming up with the original ideas.
00:10:42
Speaker
Question for you is, where would you have somebody start if they wanted to be more influential? If a company wanted to be seen as an innovator and actually do proper thought leadership like you're talking about with a visionary thought leader, where would you say they start in order to build the kind of credibility, the original ideas, and then start building the audience? Or maybe you start with the audience. I'm kind of wondering, how do you organize the journey there?
00:11:07
Speaker
Yeah, man, it's funny that you ask that particular question because that's something that I've been for years have been trying to been working with others, my own company as a freelancer, other clients and customers on how to get the balance, right? Because if you focus too much on audience and not enough on the subject matter expertise or the originality, kind of this visionary component, then
00:11:34
Speaker
you lean more towards audience builder or influencer and not enough into the visionary thought leadership piece.
Balancing Audience Building and Expertise
00:11:42
Speaker
So over the years, I kind of putting together these ideas, I've distilled it down into, I use this kind of quadrant graphic that I put together where you have this X, Y axis and in this bottom left corner, you have this box that right now
00:11:58
Speaker
And this is still in flex. I'm still exploring how to really put this together properly. In the bottom left hand corner, I have, I call them dreamers. And it's because, you know, they're usually new, either just coming out of school or new to a particular space, but they don't have an audience yet. And they may not have a lot of subject matter expertise or originality yet. So those people in the bottom left corner, they need to both work on
00:12:27
Speaker
their subject matter expertise, but also building an audience. Because if you don't balance it right, if you don't focus on both audience and subject matter expertise, then you're either going to become more of an audience builder or influencer side in the sense that the word influencer is so confused and so it's just defined so differently by so many different people.
00:12:52
Speaker
some people may consider influencers, oh, someone who actually influences the way that people act and what they buy, real impactful influence. And other people consider like, for example, you see these Instagram accounts or TikTok accounts of like the influencers of Instagram, right? And it's just a bunch of people, you know, doing wacky things and being caught on, you know, on camera. And so there's even like a negative, almost derogatory, like, oh, look at this influencer over here.
00:13:21
Speaker
where it's like someone who, it's just another way of saying an audience, right? You've built an audience, but may or may not actually have influence. One example of this is like Fail Army on Instagram. You know, there's showing my maturity here. I love that account, it's hilarious. But Fail Army, like people don't look to them for thought leadership. There's just entertainment.
00:13:47
Speaker
And so they're technically, like they do business with others who are leveraging them in their influencer marketing campaigns, but they're not really an influencer, right? They're just someone with a big audience. Somebody with attention.
00:14:02
Speaker
attention, eyeballs, ears, right? Absolutely. So if you're focusing too much on audience and not enough on the originality and expertise, it's going to be very difficult to build authority, which is going to help you move into thought leadership, right? And on the other spectrum, if you start moving up,
00:14:19
Speaker
into too much subject matter expertise and not enough audience, you'd become the expert, maybe even visionary that nobody knows. You can't be a thought leader if there's nobody there to listen, to follow your thoughts. And so you may have originality and expertise, but don't necessarily have enough authority within your space or audience within your space.
00:14:43
Speaker
to really be considered much of a thought leader. Here's a quick example. I have someone in my company. They are one of the most genius, you know, tenured experts in our space and nobody knows them, except for the people that we do business with who are, you know, our customers and our partners. And when this person sits down and starts talking, everybody listens.
00:15:06
Speaker
and they listen with intent and excitement and dedicated attention because what they say is fantastic. And they're like, oh man, I need this guy. Like we need this company because this is gold. But there's just not enough ears. There's not enough eyes, right? So that's where we're working on building attention and building audience for that particular person. So in the bottom left corner of this quadrant, you've got what I call dreamers or just new people trying to like determine where they're gonna go.
00:15:34
Speaker
And in the bottom right hand corner, as you start building, this is more towards audience building, you have audience builder in this bottom right hand quadrant who don't necessarily have the expertise, subject matter expertise or originality yet. So in the bottom right hand corner is audience builder moving up into kind of influencer and then into thought leader is that top right corner.
00:15:58
Speaker
So that top right corner is thought leader where an audience builder moves up in authority into thought leadership and on that left hand side where that dreamer is moving up into subject matter expertise and into you know this originality and can build authority
00:16:14
Speaker
to the few with their visionary concepts and ideas, but where they converge in that top right corner with the thought leader is where it's a mix of audience, authority, originality, and expertise, and that's where people I think really want to go.
00:16:31
Speaker
So you asked the question, I kind of laid that as the foundation because you asked the question, you know, what do you, do you start with? Do you start with audience? Do you start with, you know, how do you start? And I would like, ideally it's a diagonal arrow that's going straight up and to the right of that towards thought leadership and visionary thought leadership, where it's a balance of focusing on awareness and audience as well as authority and trust.
00:16:57
Speaker
So that's what I would say, like don't get too heavy on one or the other. Try and have a balance between the two. It's interesting, because if you go, like a lot of people will go to school.
00:17:08
Speaker
never be on social, earn their PhD, and then start emailing me to get on the B2B growth show. Be like, Hey, I've come out from ivory tower. I haven't published. Have me on your show. I'm the expert. You're like, never heard of you. Don't know if you're legit. I'm not going to go call your schools to make sure you even have a PhD.
00:17:28
Speaker
Yeah. So no. Zero audience and zero credibility, even though they have a PhD and have probably done some pretty good research and probably actually have some good insights. Um, but on the other end, if you're building an audience without expertise.
00:17:44
Speaker
you're just coming out, I don't know, usually you've had to do a lot of stunts to get there, right? Or you've maybe had some unfair advantages and you leverage someone else's audience. You think of people who've leveraged Dave Ramsey's brand and grown their audience and then broke off from Dave Ramsey and now they have bigger audiences.
00:18:00
Speaker
lots of ways to get there, but to grow slowly in your expertise while posting it on social and getting probably feedback from people as you go is probably the better route.
Future of Thought Leadership in B2B Marketing
00:18:09
Speaker
So you build trust and credibility and authority as you learn and become the expert.
00:18:14
Speaker
Harder to do. Yeah, it's hard to do. And the thing that you just hit, building trust, in my opinion, especially in B2B marketing and this idea of thought leadership, that is what is the focus. It's trust marketing, right? The entire focus is to build that trust, authority, and credibility.
00:18:33
Speaker
And that's anything that we end up purchasing or interacting with, even paying attention to. It's because we have some sort of notion or idea that I trust that this thing is going to do a certain job or have a certain result that I'm looking for. Even the food that we eat could be an impulse buy that you're at the store about to check out and you see something
00:18:54
Speaker
And you see it and you're like, that looks delicious, right? You trust that that thing is going to be enjoyable and it's going to be a, at the end of the day, a positive experience with you to them on a much larger scale, especially in B2B space where you're looking to make a, maybe a multimillion dollar purchase.
00:19:12
Speaker
for your organization for maybe a specific software. And it's, I trust that this, after my research and after everything I've done looking into this, I believe and I trust that this company can help solve my problems and get me to where I want to go. In both scenarios and everywhere on the spectrum is some sort of component of trust or helping people believe that what you are offering is what they need.
00:19:41
Speaker
Man trust is such a factor even hearing you articulate it talk about it i'm like yes i can think of some influencers out there who actually do have an audience and they're even putting out some original ideas and the only people that believe them.
00:19:56
Speaker
are like, I don't know, I don't know what to call them other than gullible people. I feel like there's probably a whole class of people, probably wantrepreneurs are probably some of the most vulnerable are people that are desperate, you know, buy into it and love it and just eat what they put down. But you're like, all the people that kind of like know what they're talking about are like, uh, that person. It's for some reason they have tens of thousands or a million LinkedIn followers and you're like,
00:20:23
Speaker
Really? I think we can all think of those people on social media and they could be categorized as thought leaders, except they don't actually have the trust of the people who count. But maybe that's okay. Maybe their whole thing is making a couple hundred thousand dollars a year on being an influencer, selling low level products to people that don't know any better.
00:20:42
Speaker
Yeah, absolutely. So thought leadership, just curious to know like, do you think thought leadership only becomes more important or less important in the decade or two to come in B2B marketing specifically? I think we're almost at like a
00:20:58
Speaker
A really interesting point where, well, let me say this. In short, yes, it's going to be more important, but I do believe, and I think that we'll start moving in this way, but I think that it's going to be dependent on the way that marketers and sales people and just business people in general look and view at thought leadership for really what it is.
00:21:23
Speaker
And again, it's this notion of trust marketing or building trust and credibility. Everybody knows that that's what they want to do. They want to build credibility for their company and for themselves as individuals.
00:21:38
Speaker
But this idea of thought leadership, you said it at the beginning, sometimes it's a little cringy for people or it's something that people kind of push against or mock, right? Like, oh, look at this, got these thought leaders over here. And like, sometimes it's used as a derogatory term.
00:21:53
Speaker
And so I think that especially in the B2B space and as we talk about influencer marketing in this particular space and the difference between influencer marketing and thought leadership marketing and building trust and credibility, I think that we're just kind of scraping the surface of better defining it and understanding it because there's been just so much confusion around it and so many people defining it in different ways.
00:22:22
Speaker
There is a lot of confusion around it i even thought about pursuing it i mean i pursued a pretty aggressively and studying and learning and learning how to do it but i ended up going after audience growth and this podcast is the topic that i like want to spend.
00:22:35
Speaker
years probably developing and going after. But I feel like even if you're going to develop an audience in B2B thought leadership kind of is the mark. Like that's the, that's the fuel for the fire. There's probably some other routes, even in this conversation, I've recognized that there's probably a gamut to different kinds of ways you can get an audience in B2B. Like being a news aggregator is probably one like they're doing with the record, right? With the recorded future.
00:23:00
Speaker
And they're doing it more of a news and journalist way. And it's probably a little less thought leadership there. So there's probably multiple ways. I'll probably have to figure it out as someone who's now studying how to grow an audience. I'm like, there's probably a few categories of how to do this. And I think thought leadership is probably the easiest and probably the most, I'd probably say the most profitable one. Because if you can gain their influence and their trust in a specific category, then the likelihood that they're going to want to pay you
00:23:27
Speaker
a premium for whatever product or service you're selling is probably going to be pretty high, but it's probably not the only one.
Applying the Quadrant Model to Strategies
00:23:33
Speaker
Yeah. And I really think that the idea of thought leadership marketing, like the whole intent and premise around it is to build that trust and authority and credibility. And so regardless, if you call it thought leadership marketing or trust building, they're the tactics to do that. And especially with this idea of the importance and
00:24:00
Speaker
dependence of audience to do that properly. The tactics to do that, you know, are, there's a lot of different tactics to move from this quadrants that I'm talking about to move from one quadrant to the other quadrant rather if you're in the visionary quadrant need to move over to thought leadership, or down in the audience builder side and need to move up.
00:24:20
Speaker
in authority towards that leadership, a lot of different tactics, but you'll see, we're going to see a lot more focus and intent on these things that build trust and thought leadership, and it's just going to continue to rise. So it's, again, on definition, they may call it something different, but ultimately, it's all pretty much the same thing. We're just talking about it in different ways.
00:24:45
Speaker
I love the idea of the quadrants. I'll probably have to mock it up and put in the show notes for this episode. I almost feel like there's a lot of different plot points you could put on the quadrants kind of like you'd see in a G2 or something like that because there's a bunch of different titles that might fit in different things with your visionary thought leadership being kind of like the North Star of where you want to hit in the upper right.
00:25:08
Speaker
So are you writing a book on this topic? If you are, when's that coming out? Yeah, I appreciate you asking. I am working on it. It's going to be a little bit with stuff going on at work and my executive MBA starting here pretty soon. I'm really trying to put some more time and attention.
00:25:26
Speaker
I don't have an exact date on when that's planning on coming out, but I have been thinking so deeply about this quadrant and trust building and thought leadership and develop these ideas around, no matter where you are, it's important to be able to identify and to be objective in plotting yourself on this quadrant. And this is what makes the quadrant powerful in my opinion, is if I can identify where I am
00:25:55
Speaker
and help maybe have other people in my company or trusted loved ones help me identify where I'm at, then it can give you direction on where you need to start focusing, which then can help you understand what are your tactics, what are your channels, what are your platforms, what are your metrics, what are all of these things that I need to be focusing on to shift or to move.
Publishing on Thought Leadership Models
00:26:14
Speaker
into more of this upper right space. Here's a quick example. Let's say that this guy I've been talking about in my company, incredible visionary, deep expertise, everybody loves talking to him, but doesn't have a lot of audience. Focusing on awareness and audience tactics, building your awareness and audience, podcasting, influencer marketing, partnership marketing, events, publishing,
00:26:39
Speaker
social media, right? There's like so many different tactics that can be employed to help move you over to the right in authority and more towards the right. And when I say authority, I mean, of a general view from the market and the industry at large as a whole, but then more in that audience, you know, building up. And on the other side, if you don't have like, if you're in the audience builder side, but don't have maybe a ton of the originality and expertise,
00:27:07
Speaker
and the authority that you need. Like, yeah, you do need to spend more time on your trade, but podcasting, content creation, community involvement, social media, email, events, publishing, these are different tactics that the way you approach them is going to be different from that top left quadrant where you don't have audience than you are in the bottom right quadrant where you have audience but not enough authority to be considered a thought leader.
00:27:33
Speaker
Fantastic. Pete, this has been super insightful. I can't wait for this book to be published because I think the quadrants are so helpful. Hopefully you work it into your degree, so maybe your thesis becomes a book or something like that. Yeah. Double dip. Where can people go to connect with you online in order to learn more about this topic? Yeah, absolutely. I'm on LinkedIn. I love LinkedIn. I'm there. I'm active. I would love to connect with more people and chat about just all things marketing. I love talking with people about.
00:28:02
Speaker
Fantastic. Thanks again for joining me today. It's been awesome. Thanks, Dan.
Reflections and Audience Growth Strategies
00:28:07
Speaker
Now let's talk about what caught my attention in this interview. I love having dialogues like this and just kind of like diving in and wrestling and picking it apart and defining words and figuring out how to dissect a topic because you learn a lot about the practice and the assumptions and the ways of doing things in the process of like breaking down a topic like thought leadership and how it impacts audience growth. Some of the things that I walked away with for this episode were actually questions. Questions.
00:28:36
Speaker
questions that I want to have answers to and questions that are going absolutely are going to be defining for the show later on. One of those questions is, what are the different types of audience a B2B company or an individual within B2B can grow? There's different types of things you can put out there other than thought leadership. There's curation, there's news, and I'm sure there's other types of ways to build audiences. Each has pros and cons.
00:29:04
Speaker
But there's a lot of room to be explored there, and I really want to go into the types of audiences. I feel like that would be valuable and give some definition, even for your own efforts, certainly for my efforts of what I'm trying to do with this podcast. So that's one question. The second question is around B2B audience growth strategies.
00:29:22
Speaker
which we kind of got into a little bit, but not very much. And I don't know why, just stuck in my head, like it's something that needs to be defined are the different types or different ways to grow an audience. So there's different kinds of audience, but there should be different ways in order to grow an audience, or at least roughly like different categories, different approaches to audience growth. And I mean less about the tactical ways of like, oh, promote it here, promote it there, get influencers to share it, collaborate with influencers, all well and good. I love all those things.
00:29:50
Speaker
but different philosophies like going up a level and approaches to developing an audience. It occurred to me in the meeting that I don't have it. I think there probably are different ways. I've developed one in particular tactical way and kind of strategy called the audience growth flywheel.
00:30:06
Speaker
but i feel like there's probably a bunch of different viable approaches that might suit you better than the audience growth flywheel depending on your particular circumstances or maybe unfair advantages you already have stacked with your things stacked against you that might be able to work better so as a practitioner of audience growth i still have a lot to figure out and a lot to learn.
00:30:25
Speaker
And this episode has really spurred me on to go and explore those questions. What are the different strategies for audience growth and what are the different types of audiences you can build as a B2B company or an individual selling to B2B?