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Analyst relations: Leveraging the power of technology analysts
- Published: 28/07/2015
- (Revised: 02/02/2023)
- Reading time: 2 minutes
Looking to develop analyst relations with technology analysts? Marketing is no longer a one-on-one process thanks to our current social media-driven society. Now, the art of marketing involves attracting the attention of ,and gathering approval from, the people that are most influential to your market and your targeted clients. There is one valuable segment that most SMEs neglect – that of industry analysts.
Why are analysts so important? They act as a strategic source of information for the entire industry by providing your clients with accurate statistics, targeted recommendations, as well as reviews of innovative products and services within the industry. These reports are used by your industry buyers to strategically shorten the purchasing process.
How can SMEs “grab” technology analysts’ attention? Either they make a big splash through an expensive and flashy marketing campaigns, though this is not a guaranteed way to draw analysts’ attention, or they build analyst relations through vendor briefings. Most SMEs cannot afford a flashy campaign, which is why they rely on the latter. During vendor briefings, IT vendors have the opportunity to present their products and services to analysts. If they successfully communicate the innovation or the value of their solution,analysts may choose to include the SME in their industry report.
There are four major benefits to being incorporated in an analyst’s industry report:
- Selling more. Analyst recommendations (and industry reports) shape the thinking of technology buyers. Potential clients will be more likely to consider your organization if you have been publicly recognized by an analyst.
- Building and establishing a company’s credible reputation. In today’s highly competitive market, it is challenging for young companies to compete against those who have 10 or 15 years experience and a long client list. By using technology analysts and vendor briefings, companies may increase their chances of building a solid, reputable name for their business.
- Achieving more positive press coverage. An analyst quote may strengthen and help shape the thinking of journalists. The media plays an important role in influencing the buyer’s action towards a certain product or service. If the solution is represented positively by a relevant journalist’s coverage, there is a greater chance that a potential customer will be persuaded to purchase it.
- Improving your products and services. An independent perspective on your company’s direction and positioning strengthen thinking and go-to-market strategies. Analysts are constantly in sync with market trends can quickly assess just how innovative your solutions may be, and sometimes provide feedback.
Many SMEs are reluctant to approach analysts due to two major myths behind vendor briefings:
- “Vendor briefings are only for large companies” – in fact, vendor briefings are for any company size, whether you have 3 or 300 employees. The best way to get a briefing is to develop an innovative product or service, demonstrate the market need for such a solution, and provide the required resources to bring the solution to market.
- “Vendor briefings are too expensive” – most vendor briefings are FREE. In order to assess solutions in an unbiased manner, analysts do not charge for vendor briefings. The only cost that companies may incur is that of conducting a bad vendor briefing when they are not fully prepared, having an insufficient understanding of global markets, or failing to differentiate their innovation.
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