Gene Kathol

Gene offers an in the trenches perspective on thought leadership in action with valuable insights on how companies can leverage participation in standard bodies to elevate their company’s profile.

Attain Marketing: From your perspective, why does a company like First Data believe standards participation is important?

Kathol: Using a hockey term, standards participation allows a company to “skate to where the puck will be”. While industry secrets are not divulged during standards development; industry trends, industry-wide developments, foreign developments, and related or adjacent industry developments are often discussed during the development of standards. Knowing where the market or industry will be in the future allows your company to stay viable and reinvent yourself, rather than having your competition reinvent the products you used to provide.

Attain Marketing: What are some of the primary benefits that companies gain by participating in standards groups?

Kathol: First, it is important that your clients’ needs and requirements are included within the industry standards that define your industry. Exceptions and variances to most any product increase production or marketing costs. Second, participation allows you to represent the needs and requirements of your company’s products. In addition to the negative impacts of increases in production or marketing costs by being “out of standard”, there are positive market advantages to be leveraged in the areas of purchasing, development, production, employment, marketing, and sales. The videotape industry comes to mind…Beta was a higher quality and more reliable product, but VHS became the industry standard…and Beta tapes were relegated to the Smithsonian.

Attain Marketing: In your opinion how does participation in the standards bodies demonstrate “thought leadership”?

Kathol: If you’re declaring your company to be an industry leader, you need to act like it. Participation in standards is the right thing to do AND your customers will recognize you for it.

Attain Marketing: What is one of the most unexpected benefits companies can gain through participation in standards work?

Kathol: Companies that get involved in standards work have the opportunity to rub shoulders with some of the best people in the industry and their most influential peers. You never know what opportunity will present itself at the next meeting…maybe you will meet that talented employee you’ve been searching for, forge a productive partnership or earn a new customer.

With all of the buzz today about social networking, everyone is re-thinking the value of their connections. While the verdict is still out for many on how Internet networking may or may not help companies successfully connect with influencers, participation in offline industry forums like standards bodies offers a tried and true form of networking. Whether you are a start up company or the industry guerilla these forums provide a level playing field that can help reinforce your position as a thought leader and industry influencer.

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Future-focused companies that provide meaningful insight and guidance to support buying decisions (vs. just marketing fluff) are often rewarded with more press coverage, better lead generation results, and a shortened sales cycle. To succeed, companies need to directly focus on industry relevant issues and approach the marketplace strategically by building communications platforms that establish credibility and position the company and its stakeholders as subject matter experts.

We’ve boiled down some basics for thought leadership success:

• Take the 40,000-foot view. Look beyond your technology-focused issues and geeky acronyms. Identify hot trends and determine how your company and products relate to the most current events. Companies should expand their network of contacts and company messaging to embrace the bigger picture. Innovative campaigns like rapid response media programs can provide a systematic approach to introducing your company to key industry influencers who will help bridge the perception gap.
• Be an evangelist. Select one or several company spokespersons that can be both seen and heard as the voice of your industry. Scrap the tradeshow budget in favor of a limited presence at key venues. Although speaking opportunities can be difficult to secure, event coordinators will bend the rules to accommodate a cool customer case study. Of course you can host your own speaker’s webcast series, but the key is to invest in a good list of prospects to invite to your events. Today’s social media forums like blogs and online communities offer a great vehicle for company evangelism, but avoid preaching. Don’t just follow the herd mentality – taking a controversial position will increase your chances of being heard.
• Involve customers and partners. Realize that your customers and partners might be very interested in claiming a thought leadership position in new markets as well. Use this to your advantage – instead of asking them to endorse your products, invite them to participate in an industry forum that addresses hot market issues (Thought Leadership webinar example). And for your next product launch tour, offer “select” customers the opportunity to meet with analysts and press to discuss key industry issues and position their company as a visionary – you’ll be much more successful getting them on board and be rewarded with more press coverage had you gone it alone.

The Bottomline: To escape today’s marketing black holes, adopt a thought leadership strategy that elevates both principal and firm above the fray.