Taxonomy results for: thought leadership

When searching for an effective thought leadership strategy, many of our clients ask us: “Where do we begin? How do we know what to publish?”

That’s a fair question. Publishing with impact is hard no matter who you are.

And then there are those clients – admittedly far fewer in number – who have the exact opposite problem: they simply publish too much. That’s to say, they saturate the market with commentary on every little development, trusting that volume alone will win the battle for more influence.

What these clients forget is that discernment and balance are also vital factors in any sound publishing strategy. We all know that friend who talks too much, much to the annoyance of his fellow dinner guests. After a while you begin to nod mindlessly at the sound of his voice – or tune him out completely.

Another parallel is found in the world of luxury travel. Five-star service is not only knocking on your door at evenly spaced intervals to inquire if you need your shoes polished or desire another complimentary fruit basket. Five-star service is also about knowing when to leave you alone.

These same principles apply to the world of thought leadership publishing. If you don’t publish at all, well – you can’t become a thought leader. If you publish too much, clients and consumers will tune you out.

So, at risk of talking too much and ignoring my own advice, here’s a few tips to help you find that elusive balance.

1. Clean your internal publishing pipes
Clients who publish too much often suffer from the same problem: they lack a formal publishing process and everyone internally – from VPs to MDs – wants a piece of the action. They simply turn on the tap and hope what flows out is good enough. This results in too much content from too many voices – much of it mediocre at best.

Solution: Identify who internally owns which pieces of your company’s editorial output, and give them the authority to set the tone. Have the confidence to say no to those who shouldn’t be publishing – and also resist editing everything you publish via committee. The more editors involved, the more you water down your output.

2. Allocate clearly-defined content budgets
Knowing how much you have to spend on thought leadership (as opposed to other types of marketing) encourages you to make strategic decisions and take a structured approach. It also helps you figure out what’s possible with the budget you have, forcing hard decisions about expenditures and desired ROI.

Solution: Mark the budget at the beginning of each year (or the beginning of each quarter) to establish a clear view of the potential size – or limits – of your publishing programme. And then work backward to define and shape your editorial calendar.

3. Be honest about what you’re qualified to talk about
Let’s be honest – no one is an authority on everything. Take Amazon for example. The e-commerce giant can easily talk about literary trends, because it has the sales data to back up its observations. But it’s better qualified to talk about e-commerce, or internet book retailing in general. More traditional publishers are better positioned to talk about literary trends.

Solution: Be honest about where you stand in the market and pick your sweet spot. Be confident enough to let others – even quasi competitors – to lead a conversation that you aren’t uniquely qualified to speak about.

4. Know what else is out there
Far too many aspiring thought leaders don’t know their place in the public conversation simply because they aren’t aware of what has already been said and what needs saying.

Solution: Read up on the best out there – whether that’s on Bloomberg, Reuters, or in the Financial Times – and do so frequently. That will give you a better view on the value of what you’re saying, and how it is likely to be received in the marketplace of ideas.

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Content marketing remains a nascent, if growing, industry in Asia so it’s always great to have to chance to hear the opinions of other professionals working in this area. That was one of the pleasures of a recent panel discussion I attended in Hong Kong (as well as the complimentary wine…) In addition to providing plenty of insight, it brought into sharp relief some of the miscommunication common between marketing teams and the agencies that serve them.

So in the interests of bringing greater harmony to Asia’s content market industry, here are some of the main talking points from the night and New Narrative’s assessment.

Budget or no budget in the brief?

This question produced the biggest divergence in opinion on the night. The agencies speaking at the event felt very strongly that clients needed to provide a budget when commissioning a project. If not a precise figure, then they needed at least to give a range or upper limit to give some sense about what the agency should be aiming for.

Marketers, though, were quite opposed to the idea. In part, this was borne out of their previous experience of agencies far exceeding the budget limits given to them. It also came from a feeling that agencies would inevitably pitch a solution that used up the whole budget regardless of whether it was justified.

New Narrative’s take: While an unscrupulous agency might be looking to squeeze their clients dry at every opportunity, the best ones are trying to build long-term, strategic partnerships. As part of that, they want to understand a client’s needs — and that includes budget. Having a budget allows agencies to recommend the correct mix of content at a price the client can bear. Otherwise they are left guessing, which means their proposals might be rejected multiple times before they meet a client’s requirements, leading to frustration all round.

Clients need to trust agencies to come up with the right solution at the right price. Likewise, if a budget is available up front, agencies need to accept that not every project needs to max it out to succeed. Of course, trust on both sides needs to be earned!

Information vs instruction

How much detail is the right amount for a project brief? A lively discussion on this was prompted by a question from the audience. For the agencies, it was felt that having as much information as possible about the context for the campaign meant they were able to present better ideas to the client.

More information doesn’t necessarily mean more instruction, though. Marketers and agencies agreed the key was for a client not to be too prescriptive in which ideas could be put forward. In addition, both sides viewed the process as one of evolution, where ideas can be discussed, adapted and revised until the best outcome is reached.

New Narrative’s take: Generally speaking more information is better, but let our creative juices flow! That’s what you’re paying for, after all. On top of that, we always advise clients not to view a proposal as the final say, but rather as the beginning of the conversation. As a strategic partner, we understand a client’s need for a flexible and collaborative approach and it’s also how we prefer to work.

Trust me, I’m an expert

Finally, during a discussion about pet peeves, one frustration clearly voiced by agencies was not being treated like the expert. This was less about ego and more about asking clients to recognise they had hired an agency for its expertise (and, as mentioned, its creative talents), and should listen to the offered advice rather than force through bad decisions that weaken rather than strengthen campaigns.

The marketers took this on board but didn’t look happy!

New Narrative’s take: This is one of the biggest challenges for agencies and marketers. At New Narrative, we always advise clients on what we think is the best course of action and will be clear if we think a decision will undermine the project objectives. This is especially crucial when it comes to creating a credible editorial voice, an issue content marketing (as opposed to plain old marketing) always has to grapple with.

But we also understand that marketers have internal relationships and pressures to manage that sometimes no amount of good advice can overcome. And we are always willing to help marketers craft a convincing argument to use with internal stakeholders to get the best outcome.

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2017 was a year of expansion for New Narrative with the launch of our New York office and three new team members in Hong Kong. And we’re continuing this growth into 2018. We are pleased to be hiring for a talented financial writer and editor to join our team. Full job details are below. Interested parties, please email a CV, cover letter and two examples of your writing to careers@new-narrative.com.

JOB DESCRIPTION

New Narrative, Asia’s leading financial and professional services content marketing agency, is expanding and looking for a talented financial writer and editor to join its growing team in Hong Kong.

From our offices in Hong Kong and New York, New Narrative delivers compelling content to the world’s leading banks, asset managers, law firms, fintech companies, consultants and others. Our clients rely on our unwavering dedication to editorial quality and our deep understanding of their businesses–and what resonates with their target audiences–to help them publish world-class research and thought leadership.

New Narrative’s management team has decades of experience in senior editorial roles in leading international media organisations, reporting on major events and producing commentary and analysis for an audience of senior decision-makers in the financial and professional services sectors.

Role: Editor, Financial Services

The company is looking for a dynamic and ambitious writer and editor to create content across a range of media for discerning and demanding clients. The role calls for a motivated and confident writer and editor with experience of covering financial markets, and the ambition to show what they can do at a young and fast-growing company in a new and rapidly evolving industry.

As Editor you will be responsible for producing content on a range of topics, in a range of formats, and to a range of deadlines. One week you might be writing a blog series on blockchain; the next you could be crafting tweets live from an asset management seminar in Shanghai; the next setting down to write the agenda for an event on the economics of the Belt & Road Initiative. The appeal of the job lies in its constant variety: no two client briefs are alike!

Skills and Experience Required

The successful candidate should have:

— A minimum of three years’ experience in an editorial role at a major publishing business

— Experience producing high-quality content across a range of formats, including long- and short-form written content, infographics, video and other digital formats (NB: we are looking for editorial quality; graphic design and video production skills are not required)

— Experience writing about the financial and professional services sectors for audiences of senior executives (samples of both unedited and published work will be required)

— Knowledge of the traditional, new and social media communications strategies of financial and professional services firms

— Impeccable written English skills and a commitment to editorial quality in everything you do, from text messages to tweets to treatises

— A network of contacts among marketing and communications decision-makers in these industries would be a distinct advantage

— The right to work in Hong Kong

— The willingness to travel overseas for work

Salary

The role offers a generous base salary, based on experience.

Other benefits include medical insurance, paid holidays and a company mobile phone.

Why work at n/n?

New Narrative offers a progressive working environment. While the hours don’t always fit easily into 9-5, we actively pursue a policy of work-life balance for all staff.

As a small but fast-growing company in a nascent industry in Asia, we offer unmatched opportunities for advancement. The right candidate can help shape the future direction of our business and the region’s content marketing industry.

New Narrative is an equal opportunities employer.

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A couple of interesting articles that caught our eye recently got us thinking about the growing importance of — perhaps even dependence on — data in media and marketing. Data is now the foundation for a lot of journalism and increasingly fuels publishing and marketing campaigns as well, both as a source of insight (on audiences and how to reach them) and collateral (by demonstrating an organisation’s knowledge or expertise).

This piece from Germany’s C3 references a couple of great examples of the latter, including dating site OK Cupid, which trawls through its data to produce interesting tidbits on the contemporary dating scene (shock finding: older men are more inclined to message younger women than vice versa) and Expedia’s crunching of data to generate sound travel advice for the jam-packed US Labor Day weekend.

We could add others with which we had the pleasure to be involved, including this groundbreaking report from Philips, which combined the results of an ambitious international survey with third-party data to develop a roadmap for the future of healthcare.

So far, so good. But as C3 rightly points out, whether you’re a journalist or marketer, in approaching and using data it’s important to be aware of its limitations. Data is no more inherently conclusive or free of bias as any other source of information, and should be subject to the same levels of scrutiny.

This isn’t a new story, of course: the phrase, “There are three kinds of lies: lies, damned lies and statistics” was popularised by Mark Twain more than a century ago. Which means that if you’re not questioning your own data, someone else very likely will; a recent survey by KPMG and Forrester Consulting found that most decision-makers don’t even trust the data insights their companies generate internally.

Beyond the issue of trust, there’s the question of whether data really connects on an emotional level. As one of the most powerful quotes in this excellent Vanity Fair piece on how data has transformed decision-making puts it:

“No one ever made a decision because of a number. They need a story.”

Having seen firsthand what data can (and can’t) do, we’re staunch advocates of putting it to good use. But as our recent reading has underlined, it’s important that data is used with principles in mind. Here are those that we see as the bedrock for any solid data-driven storytelling:

*Strive for transparency: Being as open and specific as possible about where the data comes (without sacrificing privacy standards) will add to its credibility; avoiding the matter will do the opposite. In publishing the results of a survey, this would include details such as the methods used and the number and composition of respondents.

*Practice acceptance: Maybe you’ve commissioned a poll and the data doesn’t quite tell the story or support the thesis you had envisioned. That’s okay, and no reason to discard the results — surely they contain other information worth sharing, and if they’ve confounded your expectations chances are other people would find them interesting as well. Also avoid cherry-picking findings to fit a pre-generated thesis, as it’s almost always obvious when this tactic has been adopted and it risks discrediting the whole exercise.

*Be selective: At the risk of appearing to contradict the above point it’s also important to be at least somewhat selective about the data you use and share. The ‘big data’ term exists for a reason; any data-gathering exercise inevitably produces a staggering amount of statistics. Rather than attempting to ‘go broad’, pick one theme or issue to target through research or a survey and ‘go deep’; the results will inevitably be more interesting. And when you do have findings, don’t plan to publish them all. Instead, look for consistent patterns or data points that seem to challenge conventional wisdom, and concentrate on examining and sharing those if they stand up.

*Remember data is a starting point: Regardless of the topic (yes, even the wild and wonderful world of online dating) audiences aren’t engaged by data alone, and a page chock-full of statistics or charts, no matter how tastefully designed, will cause a lot of eyes to glaze over. Proprietary data should be seen as a starting point for stories and campaigns that are fleshed out with anecdotes from internal and external experts, case studies and research from other sources, to build credibility and bring the numbers to life.

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Given the nature of our business, you’d think we welcome the news that content marketing is the top priority of marketers in Asia Pacific this year, even beating out getting return on investment — at least according to this study by consultancy NewBase. And don’t get us wrong — it is indeed good to see the industry reaching new levels of maturation, with (as NewBase says) most enterprises now fully accepting that producing “relevant and engaging content is a necessity.”

But (there’s always a but) the report contains some troubling findings as well. Content itself might be seen as important, but content quality and content relevance, less so, taking a dismal number seven and number eight on the priority list, respectively.

There’s no shortage of possible reasons for these low showings. Things like audience measurement may simply be seen as more pressing. Perhaps good content is so abundant that most organisations aren’t in the least worried about finding or producing it (though what we hear from our clients, sadly, suggests otherwise).

More likely is that some are more concerned with being seen publishing, or saying something (anything!), rather than the substance of what they’re communicating. Another possibility is that content has attained enough critical mass as a buzzword that marketing departments feel like they should be prioritising it, and say so, even if they’re not quite sure why, or how.

We wouldn’t be so bold as to deny the importance of some higher-priority items on the list. Or to potentially discourage marketers from exploring a field that means a lot to us. But generating content for content’s sake, or to populate different channels without careful consideration of the audience and how pertinent the information is to them, probably won’t yield the desired results, and can in fact be counterproductive.

That’s because though ‘content marketing’ might sound new, it’s been around in various guises for a very long time. And even if it’s produced with reputational or commercial goals in mind, content is subject to the same laws as any other creative endeavour. Less is sometimes more. Quality is infinitely more important than quantity. Audiences will quickly sniff out the vacuous or fake, and learn to look elsewhere. The smartest, most respected voice in the room doesn’t need to drone on, or to shout, to be heard.

It’s also important to keep in mind that just like any other business function — whether corporate social responsibility, human resources, or, well … the rest of marketing, content is most effective when it’s part of a bigger strategy or vision, and makes the most of internal expertise and resources. Achieving that alignment, and making the most of those resources, can take time, but it’s not a process to be avoided.

So by all means, create, publish and experiment. Pay keen attention to the possibilities of emerging formats like mobile video. Ensure anything you publish is distributed in the optimal way and carefully tracked. But don’t forget quality is the ultimate differentiator, and the soundest of all investment strategies in the long run — even if it means you’re slightly slower out of the starting gates.

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HONG KONG/NEW YORK, June 13, 2017 — New Narrative, Asia’s leading custom media agency, today announced that Lorraine Cushnie has joined the firm as a partner in its Hong Kong office.

New Narrative creates custom research, thought leadership, multi-platform editorial content and publishing campaigns for top-tier corporations and media organisations worldwide.

Cushnie, an award-winning financial journalist and editor, has spent 15 years covering financial and professional markets in Europe and Asia. Drawing on her extensive experience in banking, asset management and the legal industry, Cushnie will consult on, devise and execute market-leading content campaigns for New Narrative clients across these sectors.

Cushnie joins from Euromoney Institutional Investor where she was the managing editor for the banking and capital markets group in Asia. Based in Hong Kong, she oversaw the editorial teams and publishing schedule for the company’s financial titles including Asiamoney and GlobalCapital.

While at Euromoney, Cushnie established the first news site dedicated to covering the internationalisation of the renminbi, which now publishes under the brand GlobalRMB and is the leader in its field. She also produced custom reports and content for the region’s leading banks and has been a regular moderator of panels and roundtables at major industry conferences.

Cushnie holds a degree in German from King’s College London and a postgraduate diploma in Newspaper Journalism from City University London for which she received a bursary from the Guardian Media Group.

Cushnie joins at an exciting time for New Narrative which launched an office in New York in February and is expanding its operations in Hong Kong.

“We are delighted to welcome someone of Lorraine’s calibre,” said Joseph Chaney, Hong Kong-based co-founder of New Narrative. “Her joining is a tremendous boost for our team from both the editorial and business development standpoints.

“Since its founding by experienced financial journalists in 2013, New Narrative has shown consistent growth in a wide range of sectors, particularly financial services. Lorraine’s credentials as an experienced journalist and editor mean she is ideally positioned to drive the company’s expansion in this field in Asia and beyond.”

About New Narrative

New Narrative Ltd. (n/n) is a content consultancy and custom media agency founded in Hong Kong in 2013. The firm conceptualises and creates tailor-made content campaigns that drive value for a range of global companies, media organisations and research institutions.

New Narrative partners have decades of experience as senior editors and executives in leading media organisations, reporting on market-leading events and producing insightful commentary and analysis for an audience of senior decision-makers.
Press enquiries:

US:

Glenn Mott, Partner
glenn.mott@new-narrative.com
+1 646 330 3282

Hong Kong:

Joseph Chaney, Partner
joseph.chaney@new-narrative.com
+852 9411 7441

 

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