06/06/2016

Why Analyst Relations

Analyst Relations plays an essential role in building your brand and shaping the perception of your company in the market by interacting with the right analysts at the right time. As most cases involve interpersonal relationships, the first impression counts the most. Why would you approach the handful of relevant analysts for your technology niche without making 100% sure that you understand how the game is played?

The chances are that the Analyst you are speaking with covers a large number of vendors and has listened to a considerable number of companies trying to “sell” the superiority of their solution. So if you are willing to compete with your competition in the field of Analyst Relations, getting that interaction right is critical. Trying won’t be enough when you want to compete on a global level and when messing things up might mean that you won’t get a second chance to fix things. 

Why Should you care?

Your buyers are influenced by research and analysts. For example, over 70% of the Fortune 1000 firms and many smaller firms leverage analyst insight when buying technology solutions, validating their strategy and acquiring promising technology vendors. Subject to respecting analyst independence and objectivity, you can indeed control analyst influence by exploiting the opportunities to share the information you want to convey.

Analyst influence could mean both recommendations for your offerings to potential buyers and partners and coverage of your company in research read by your clients and prospects. Analyst Relations is the amplifier of their success for any successful technology vendor.

Why Shouldn’t I do it myself?

Analyst Relations plays an essential role in building your brand and shaping the perception of your company in the market by interacting with the right analysts at the right time. As most cases involve interpersonal relationships, the first impression counts the most. Why would you approach the handful of relevant analysts for your technology niche without making 100% sure that you understand how the game is played?

An Analyst Relations programme is a managed sequence of interactions by a technology provider with relevant members of the IT Industry Analyst Community, which include vendor/analyst briefings, analyst inquiries, industry events, workshops and other types of engagements, designed to gain credibility, better control influence and enable superior decision making.

The chances are that the Analyst you are speaking with covers a large number of vendors and has listened to a vast number of companies trying to “sell” the superiority of their solution. So if you are willing to compete with your competition in the field of Analyst Relations, getting that interaction right is critical. Trying won’t be enough when you want to compete on a global level and when messing things up might mean that you won’t get a second chance to fix things.

Analysts have to be selective in their research scope

One aspect of the analyst industry that research end-users and vendors often don’t realise is that industry analysts do not have infinite resources to conduct and publish comprehensive all-inclusive research. Usually, data is gathered from client inquiries and vendor briefings.

If you fail to inform the analysts about your newly developed product or your roadmap for future development, the chances are that analysts won’t find out, or if they do, it’ll be too late. More so, if their information about you is perceived to be incomplete, incorrect or at least confusing, the analysts may decide to leave this information out of their research. In the worst-case scenario, unfavourable and possibly false coverage might result. Having a proper Analyst Relations programme in place makes sure that you know which Analyst is covering which topic at what time, ensuring that you optimise the analyst coverage. 

Analysts influence buying behaviour

According to Kensington Group researchers, industry analyst groups such as Gartner, Forrester, IDC, and Ovum influence commercial technology sales between 40% and 60%. This means that being mentioned by analysts – either in written research or in 1:1 inquiries – will open up indirect access to many potential customers.

Analyst research can serve as powerful sales support

Coverage in official research publications is the most powerful tool for your salespeople and your marketing materials to demonstrate that your technology, company, products and service offerings and methods are highly recognised and credible. Credibility wins business. 

Analysts as your strategic advisors

Industry analysts are not only there to support your customers’ decision making, but they also can support technology vendors. Analyst firms provide their technology vendor customers with comprehensive insight about potential customers, new technologies, markets, competitors, target industries and business processes. The insight gained from solid interaction with the right Analyst will help you make superior strategic decisions.