If you think back on the many occasions when you’ve heard this phrase, or for that matter used it yourself – how many times has it been a good idea to give it a try yourself first? Trying something implies that there is the potential to try again if the first attempt fails, or where it is possible to get professional help to get something done after trying once it becomes clear that it isn’t something that can be done “on your own”.
There are some occasions where trying is certainly a valid option. You can try to cook your dinner and if it fails you can still order a pizza. But trying to fix the brakes on your car might not be such a good idea if you don’t exactly know what you are doing.
When it comes to running your business it is in most cases not such a good idea to rely on trying. This is probably one of the reasons why you have job interviews and do your due diligence when you hire someone to work for your company. You want to be sure that the person you are hiring is qualified and experienced enough to get the job done properly.
So how come there are so many people willing to take on the risks involved in engaging external “influencers” on their own without any previous idea of how to get things done?
I am not saying that getting analyst relations wrong is going to threaten your life or the very existence of your company, but it is certainly an important part of building your brand and shaping the perception of your company in the market. So you should better be sure how to get things right.
As in most cases involving interpersonal relationships it is the first impression that counts the most. You probably would not consider sending a junior inexperienced sales rep to an important client. So how come you are willing to approach the handful of relevant analysts for your technology niche without making 100% sure that you understand how the game is played?
I have listened in, and helped prepare dozens of vendor presentations and analyst meetings. It is fair to say that the range of professionalism I have seen varies greatly. Chances are that the analyst you are talking to is covering a large number of vendors and has listened to a huge number of companies trying to “sell” the superiority of their solution. Part of that sales process is also the level of professionalism you are showing in the way you engage with the analyst community.
So if you are willing to compete with your competition in the field of analyst relations, make sure that you are well prepared and have all the tools at hand to win the game. Trying to get it right will not be enough when you are competing on a global level and when messing things up might mean that you won’t get a second chance to fix things.