Success breeds success: When we talk to technology vendors about starting an analyst relations program, we receive all kinds of reactions. One way or another, most technology vendors have had first or second-hand experiences with the analysts’ community. Either they’ve seen competitors promoting the latest research publication that favourably featured them, or they have had buy-side telling them that they need to be ‘on the analysts’ radar to be considered a supplier.
At this point, most vendors start thinking about ways to work with analysts with the goal in mind to be featured in the research. At Kea Company, we work with vendors from various maturity stages, from start-ups to established multibillion-dollar enterprises. What strikes us as quite interesting is the fact that those who, in the end, decide to enter the shark tank of analyst engagements are the ones most confident about their capabilities and the ones with the most significant ambitions to succeed in the market.
Here are five attitudes we see with technology vendors who decide to take on analyst relations:
- They are convinced that they can stand up to a critical and informed audience: The analysts
- They are confident they have a story to tell that is relevant for a broader audience
- They feel that they are bringing innovation to the market
- They have a competitive offering which they are sure to succeed if they get shortlisted
- They are confident that they will achieve significant growth and expand their market presence
In the end, it all comes down to a single message: Companies who embark on the analyst relations journey do so because they feel they are at least as good as the competitors already featured in the research. Moreover, they are convinced that their offering meets a demand in the market.
On the other end of the spectrum, many vendors fear that they might be too small and their footprint not global enough. They think their references might be too small or too local or that their solutions are not sophisticated enough and still need feature x, y, and z before they are finally ready to be presented to the analysts. As a result, these vendors typically keep postponing analyst relations indefinitely. Even if they decide to start working with analysts, they tend not to stick with it long enough to harvest the fruits of their efforts.
Engaging analysts to tell your story sends a clear signal to these analysts and your customers and future customers: “We are a force to be reckoned with. We are confident that we can offer value to our customers that no other company can deliver.”
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