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Analyst Relations Relies on a 3-Step Process

By Judy Anderson, PR and marketing vice president

Getting industry analysts on your side is critical to building credibility and being seen as a “player” in the information technology industry. Analysts’ opinions hold great influence over investors, the media and your buyers. In addition, analysts are an excellent source of market intelligence to help you determine the optimal way to position your company and/or your products.

Yet many technology firms view industry analysts as an afterthought because they don’t understand the importance of analysts in market development. Or worse, they ignore analysts altogether, usually because they’re intimidated by how to approach this group of influencers. And then, of course, there are companies that have approached analysts and made costly mistakes that have led to adversarial relationships. The result: they miss out on the valuable exposure this group can provide.

If you want to implement a successful analyst relations program, you must take special care to develop a separate communications effort targeted for analysts’ specific needs, which is based on a three-phase process:

  1. Get on the radar
    First, spend time learning about the key analyst firms and individuals that cover your industry. Read their coverage of your competitors and learn about their perspectives and opinions.

    Once you’ve identified and prioritized your target list, schedule meetings and/or teleconferences to brief them about your company and its products. This process can take a few weeks to several months. Be flexible and try to accommodate their schedules, particularly in this early stage of the relationship.

    Many analyst firms have meeting-request forms on their websites. Always include a brief synopsis of your company’s market differentiation and outline the compelling reasons of why they should meet (or talk) with you now.

    Industry analysts are typically flooded with inquiries from vendors so it can be extremely valuable to have an expert with analyst relations experience help you get started on the right foot.
  2. Create a dialogue
    Analysts have strong opinions about and deep expertise in their coverage areas. Rather than just providing information about your company, use the opportunity to get feedback about your strategy, competitors and industry trends.

    Be prepared to answer a different set of questions in analyst interviews than you’re used to with media interviews. Analysts tend to drill much deeper into strategic, business and technical issues. The best approach is to address these and other questions in a presentation that you practice several times before your first interview.
  3. Leverage the relationship
    Treat your analyst relationships with the same care and attention as you do your relationships with key customers. Keep analysts up-to-date about company news and events on an ongoing basis, and brief them periodically about your progress. Remember, it’s their job to keep track of what’s going on in the industry and often it’s their briefings with vendors that help them do this.

    Analyst firms also offer services that can add value to your marketing initiatives. These include ongoing consulting, research reports and white papers about your company’s technology. To fully leverage the relationship, many IT companies exploit these value-added services and develop a close relationship with one or two top firms.

    Maintaining positive relationships with industry analysts can dramatically boost your company’s credibility and market presence. Follow these guidelines and you’ll be well on your way to making them allies rather than critics.

copyright 2005, KC Associates, LLC

 

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