1. How are Trusted Advisors and Thought Leaders different?

This is an important distinction.  The critical difference is that Thought Leaders do not necessarily have a personal relationship with the audience who listens to them.  For instance, Robert Reich would be considered a Thought Leader in the area of labor economics, and we might read his writings on the subject as part of an information gathering process relative to growing the human capital at Community Analytics.  But, he is not the person we will call or meet with to get advice. We would meet with our select Trusted Advisors, the individuals we know personally and whose opinions we trust and admire, about specific issues or decisions that arise as part of developing and implementing a strategic plan to achieve that growth.

2. How are Trusted Advisors different than everyone else in the community?

The truth is that different individuals are Trusted Advisors for different topics and products.  And based on the topic or issue, the characteristics of the Trusted Advisors vary within a community.  In our work across a variety of industries, we find that the characteristic which cuts across these diverse groups is a willingness to share knowledge and a certain intangible quality that speaks to trustworthiness and integrity.

3. Can you predict which individuals are most likely to be Trusted Advisors?

As noted above, the characteristics of Trusted Advisors are all over the board depending on the nature of the community as well as the topic or product of interest.  There is no predictive model for trusted relationships.  This is why it is so valuable to understand the relationships through which a community vets ideas, evaluates products and makes decisions.  With an understanding of this existing network of trust and advice-seeking, our clients and partners have the unique opportunity to become a meaningful part of the conversations and relationships that exist within the network.

4. Can organizations attract Trusted Advisors?

If we’ve learned anything in the past few years, we know that people do not want a pitch, they want advice.  Organizations must meet the Trusted Advisors and their communities where they are – in the context of the relationships, dialogues and information sharing activities that matter most to them.  To truly grow a loyal customer base while simultaneously increasing the rate of new customer acquisition, organizations can engage interested Trusted Advisors. Our clients have learned  to participate in the communities that matter most to their target audience rather than try to create an artificial network – more listening and less “telling”.

5. What role do Trusted Advisors play in the buying process?

Trusted Advisors are the individuals you call when contemplating an issue, wrestling with a decision, solving a problem or just looking for new ideas. 

For instance, one of your Trusted Advisors relative to fitness might say, “You have got to join this new gym – it is the best fitness program I’ve seen and has made a huge difference in my energy level and productivity.”  In this case, you may not even be in the market for a new gym, but because you trust and admire this person’s opinion on fitness, you are now excited to look into a membership.  In another case, you might be researching retirement products for your company to make a decision about whether to stay with the current offerings or switch to a new vendor.  You call your friend and colleague whose opinion and experience you trust and ask for her advice.