Lets us not waste any time and dive right in there. Here are our Analyst Relations Programs: The Top 5 Common Mistakes
#5: Vendors approach analysts with an undifferentiated message and lack of thought in their vision and strategy.
Downside – why should an analyst pay any attention to a boring, me too vendor, especially if the market is crowded and fragmented?
#4: Vendors provide the wrong information, not supporting the analysts’ communication methods with end-users. This problem is widespread with product companies run by engineers who are totally in love with the features and functions of their products. These vendors only want to talk speeds-and-feeds and ignore the more critical types of information that analysts need.
Downside – vendors can miss impacting an analyst’s verbal communication in a client one-on-one by providing only the facts and figures used in written research.
#3: Vendors use the same approach for all analysts and firms. Some firms have bureaucratic briefing request procedures, while others permit vendors and PR firms to call the analysts directly. Market researchers need numbers while advisory analysts provide customer success stories. Some analysts are very structured in the information they want and the briefing structure, while others are informal, even at the same firm.
Downside – analysts want to do things their way. Vendors who ignore fundamental differences between analysts and firms risk irritating the analysts, not providing needed information and wasting the analysts’ time.
#2: Vendors obsess with conducting formal face-to-face meetings instead of using a mix of interaction types. The analyst roadshow is the most expensive interaction regarding time and money and the most challenging way to interact with analysts.
Downside – AR programs miss the opportunity to interact more effectively with analysts by ignoring other interaction avenues like the phone, e-mail, teleconferences, webinars and summits.
#1: Vendors misuse their analyst briefing lists. AR programs target the wrong analysts because:
• They don’t have analysts with the proper coverage on their lists
• They talk to analysts with business models that do not fit their AR or corporate objectives
• They have too few or too many analysts on their lists
• They do not rank and tier their analysts so they can concentrate on the most important tier 1 analysts
• They have a one-size-fits-all list instead of breaking it out by product lines
Downside – Talking to the wrong analysts is a waste of time with the huge opportunity cost of missing the analysts who could impact your company.
Bottom Line: Many AR programs suffer the same mishaps regardless of the company type: software, hardware, services or Internet companies. Founders and heads of business need to look seriously at their programs to see if they fall prey to these mistakes. Then they need to root out the practices that lead to these mistakes ruthlessly.
Do you have any questions after reading this blog? We are always looking for meaningful interactions. Moreover, we appreciate you providing us with the information needed to make that happen.