By Shawn Whalen
Industry analysts such as Gartner, Forrester, IDC and others hold much weight among corporate America when it comes to technology purchases. These independent, third-party
experts track technologies and industries with market research and consulting. Industry analysts also serve as frequent media references, providing quotes on companies and
markets. As such, these analysts can be a vital component in the public relations mix.
What the best approach to get on analysts' radar screens? And once you secure those analyst briefings, how do you make the best impression? What the secret to landing plum
spots on their leadership grids, and citations in their reports?
While many think that you need a paid relationship to get attention from analysts, this is not the case. Good analysts cover their market in totality, and that includes all of
the major and many of the minor players. If your company is a major player, it's likely that you will find analysts receptive to briefings a few times a year, and in turn you will
be included in research reports. If you are a start up or second-tier vendor, you may have to work a little harder to secure briefings.
When cultivating industry analyst relationships, be forthright and honest in communications about your company as well as your industry. If analysts feel your executive is a
thought leader, and not just a company-line talking head, they're more likely to use your CEO as a source.
Think carefully about your briefing schedule. Determine the two or three most important announcements in the next six months. Pursue analyst briefings around each piece of
news. Another potential strategy is to meet with analysts every six months with strategic updates that summarize your achievements over the past months and communicate your
strategy going forward.
When you do secure that important briefing, make most of your time with the analysts.
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Articulate Your Business Strategy: It sounds basic, but an analyst can only know as much about your business as you tell them. You need to be sure that your business
strategy comes across clearly and cogently. Relate your business to significant market demands or technology shifts that have created new market opportunities. Describe the
benefits you offer customers, not just the technical features. And make your presentation concise by sticking to the big picture rather than getting bogged down in minutiae.
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Think Competitively: While demonstrating your product and sales strategy is important, so is competitive positioning. Analysts specialize in looking at entire markets from
the buyer's viewpoint. Help the analyst see where you fit in the larger landscape. Also, think very hard before attempting to create a new category. It takes a lot of marketing
muscle - or a truly revolutionary offering - to build industry-wide momentum around a new category. You may be better off creating a unique niche within an existing category.
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Provide Customer Access: Customers tell your story better than you ever can. They're the third-party validation you need to prove that your business strategy works and that
your technology and products are for real. That's why it's important that analysts have access to these customers. Even if the customer does not let an analyst quote them
directly, the analyst can at least use the information on background. The customers will also be able to provide the hard facts and anecdotes that the analysts need to create
reports.
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Cultivate Relationships by Adding Value: It's the analyst's job to look smart in front of their own clients. Analysts need you. Those vendor executives that provide
industry insights, background and "word on the street" perspective are valued by analysts more than scripted executives who only talk about how great their product is.
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Keep the Communication Flowing: ?While your briefing times may be limited, the information flow can keep going. Send analysts periodic updates on your progress through e-
mail. Sales wins, management changes, partnerships, acquisitions and product announcements are all part of your corporate picture and will help the analyst get a sense of who you
are and where you are going. Have your executive offer perspective and insights on industry news, which will bolster your thought leadership.
Analysts have a lot to offer your company by way of industry research, customer contacts and market insights. While in the past, many analyst firms required customers to take
out expensive, all-inclusive contracts, most will now allow you to purchase services in a more a la carte fashion. Not only does this give you more control over your analyst
budget, but it also enables you to play to the strengths of each analyst. A strong and comprehensive analyst program can help drive sales, partnerships and penetrate new markets.
CONTACT:
Shawn Whalen is the EVP of Schwartz Communications. He can be reached at [email protected].