“What About the Analysts?”
Deborah L. Cox, a 20-year veteran of the software industry, has led corporate communications programs for both large and emerging growth companies. She currently serves on the board of TAG FinTech with Scott Mills. 
Since the ‘80’s, industry analysts have evolved as critical influencers of technology purchase decisions, resulting in fear and concern in the executive suite. The CEO worries that the company will be left out of research or not recommended, while competitors are showcased. The CTO is uncertain as to when to validate product innovation plans with analysts since they constantly talk to competitors. And the CMO is charged with making sure that analyst relations (AR) efforts are directed at the analysts with influence so not to waste precious executive time.
To reduce the uncertainty around dealing with the industry analysts, AR needs to be a part of a company’s DNA. Every strategic business and product decision should consider analysts’ perceptions, what information to share with the analysts and when, who is best suited to deliver the message, and ultimately how to measure success.
Traditional AR activities such as briefings and outbound communications increase market awareness for a company and its solutions. But to grow revenue and gain market share by leveraging the influence of analysts, a strategic AR program is needed. Strategic AR provides (1) consistent dialogue with analysts – building trusted relationships, (2) tools to leverage analysts’ influence and mitigate risk and chaos during the sales process, and (3) a reliable source of market and competitive intelligence to guide product development initiatives.
Delivering a strategic analyst relations program requires….
- Aligning AR activities with corporate goals.
- Extensive knowledge of research/analyst landscape, including insight into the level of influence of target firms and specific analysts.
- Innovative communications practices that resonate with analysts.
AR liaison to communicate benefits of complex technologies, as well as discuss business model objectives and operating results. - Constant monitoring of analysts’ assessment of market dynamics and competitors’ solutions.
- Timely delivery of information, demonstrating high level of commitment to relationship.
- A sales team trained to recognize analyst influence at each stage of the sales process.
- Established metrics to evaluate the ROI of AR activities.
If you are considering a dedicated AR effort, consider including the following services:
- Development of 6-month Rolling Strategic AR Plan
- Internal training of sales and marketing teams
- Resources to leverage analyst involvement in sales cycles
- Timely response to RFIs from analysts
- Briefing support, including executive coaching, presentation development and post-interaction evaluation
- Development of inquiry sessions on a quarterly basis
- Business case methodology for evaluation projects such as Gartner’s Magic Quadrant or Forrester Wave
- Monitoring of research agendas that secures inclusion in reports
- Monitoring coverage of competitors and alerts to new trends
- Brand/message testing
- Securing quotes and media references for marketing collateral and press announcements
- Analyst conference/summit strategies
- Analyst audits
Analysts are often in a position to validate new concepts, make recommendations and provide valuable industry insights. Successful AR requires building relationships and providing superb, timely content.
