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Top Tips: How to Run an Effective Industry Analyst Relations Program
March 13, 2007
Top Tips: How to Run an Effective Industry Analyst Relations Program
NEW YORK -- March 13, 2007 -- Affect Strategies, a public relations and strategic marketing firm, announced today top tips designed to help technology companies build an effective industry analyst relations program. An analyst relations program involves identifying and influencing industry researchers or consultants on an ongoing and consistent basis.
"Similar to an effective media relations campaign, a highly targeted analyst relations program can help companies increase visibility, differentiate from the competition and, most importantly, sell products," said Sandra Fathi, president of Affect Strategies. "With more than 400 analyst firms, it can be a very challenging and daunting task to get a successful program up and running and capture the attention of key industry analysts. To take a little pain out of the process, we have outlined a few small steps that can yield big rewards for your company."
- Understand the basics. Many people tend to associate analyst relations with pricey marketing programs such as subscription services, advisory sessions, ongoing consulting or research and event sponsorships. While these opportunities may provide value to your organization, there are also unpaid opportunities that you can leverage, such as vendor briefings (typically a one-way presentation focused on product or corporate updates), scheduled interviews at tradeshows or events or informal communications (phone/ e-mail conversations, press release dissemination, etc.). Recognize the benefits. An industry analyst relations program can produce numerous benefits if executed properly. First, it can help you secure coverage in an analyst report, blog or podcast (a report, for example, with a favorable mention of your company can then be used as sales collateral). Second, it can also help generate additional media interest as reporters often interview analysts for their expert opinion. Third, it can open the doors to new RFP opportunities as analysts are constantly talking to and advising vendors on their technology purchasing decisions.
- Identify key analysts. In order to lay the foundation for a highly effective industry analyst relations program, first identify the key analysts whom you wish to target. Visit the websites of leading technology firms-such as Gartner, IDC, Jupiter, Forrester and Yankee-to determine who's covering your industry. Consider using Cision (formerly Bacon's), or a similar database, to refine your search and uncover additional analyst bio information and areas of coverage. It's important to target the niche players as well. In recent years, a number of smaller, independent tech firms - such as Collaborative Strategies or Enterprise Strategy - have emerged on the industry analyst scene. Getting in front of the smaller guys is just as important as solidifying relationships with analysts from the large firms as they, too, have access to information, resources and vendors with technology budgets. For a complete list of analyst firms-big or small-visit: http://analystfirms.tekrati.com
- Understand the difference between media and analysts. Although they certainly have similarities, analysts perform different functions than the media, and they certainly have different goals and objectives. As researchers, and not reporters, analysts gather market research and competitive intelligence and consolidate that information in comprehensive reports. They also often have longer 'lead times' than reporters for preparing and disseminating their information. 'Pay for play' tends to be more prevalent with industry analysts as they rely heavily on revenues from the technology providers they cover to fund their business (hint: don't be overly surprised if a sales rep joins your next analyst briefing!).
- Read, and read often. In the world of analyst relations, things can change at lightning speed. In order to keep your finger on the pulse, it is important to regularly read research papers, industry news articles, press releases and blogs written by and about the analysts you wish to target. One interesting and useful blog is GartnerWatch which, as the name implies, covers tips and tricks on securing Gartner coverage.
- Understand the briefing process. Each industry analyst firm has its own unique briefing process. For some firms, it is acceptable practice to get in touch with the industry analyst directly via e-mail or phone; others require you to fill out extensive paperwork in order to secure a briefing. Before you begin your outreach efforts, do your homework first to understand the most suitable method of communication.
- Set expectations. So you've secured a briefing with an important analyst; now you need prepare for it. Before you roll up your sleeves and get to work, it is important to 'set the agenda' with the analyst or person coordinating the briefing. You can do this by asking some key questions: How familiar is the analyst with your company? What do they want to cover? How technical are they? What materials would they like to receive in advance? How much time do they have? Who from their end will be participating? Uncovering key information in advance will help you more effectively prepare for the upcoming meeting.
- Create and deliver a compelling presentation. Before building your presentation, find out if the analyst firm with whom you are speaking has a suggested outline on their website. This will help tailor the presentation to the firm's specific needs and requirements. Also, make sure the presentation is clear, concise and compelling. Avoid jargons and highly technical diagrams; do use colorful examples, statistics and case studies. Also, ask interesting questions throughout the presentation to keep the analysts engaged and on topic. At the end of the briefing, be sure to find out what reports the analysts are working on, when they would like to be briefed again and if they are speaking to any vendors who might be interested in your services.
- Stay in touch. If you want to stay in an analyst's 'good graces' (translation: profiled in their next influential report), be sure to reach out to him/her on an ongoing and consistent basis. Send thank-you notes, holiday cards, press releases, briefing requests and 'I read your latest report with great interest' e-mails regularly. Since repetition is key to any successful campaign, be sure to stay in touch often!
- Partner with a PR firm. If setting up an industry analyst program still seems overwhelming, consider working with a PR firm that has extensive experience in technology and a reputation for developing and implementing results-driven programs. This will help to ensure you are targeting the appropriate analysts, delivering the optimal messages about your services and company and securing the coverage you deserve.
