As a tech start-up or scale-up, you may be wondering how to approach industry analyst relations (AR), a practice of relationship building in the tech industry that is seemingly (but only seemingly) the preserve of large vendors.

True, you do need a strategic resource, and to invest time and effort in developing relationships with analysts – the expert advisers on how, where and why IT-related products and services are bought and used. There is no reason though why a growing tech company could not establish mutually beneficial relationships with industry analysts and gain their mindshare.

So, what are the first and essential steps towards successful AR? Read our top tips below.

Securing executive buy-in and ‘selling’ AR within your organisation

An analyst relations programme will require a cross-departmental effort as well as support from senior executives who will also act as analyst relations spokespeople. Securing financial investment and investment of time and effort by senior executives and product managers is key.

The first step is to eliminate the misconception that analysts are just a more ‘corporate’ version of journalists and can be ‘covered’ by PR. Too often, analyst briefings are tagged onto press days or, worse still, analysts are invited to executive briefings when the response from journalists is low.

Industry analysts require a dedicated, strategic and sustained effort that is managed by AR professionals who have the required tools, know-how and access to executives and product managers in order to be able to drive a strong AR programme. This is the only way to ensure analysts receive the right information (with an appropriate level of detail) at the right time and through appropriate channels.

AR training for spokespeople

Industry analysts are extremely knowledgeable in their particular segment of the market, allowing them to influence, on average, from 40-60% of all IT buying decisions. As such, their views and perspectives are highly focused and insightful. Conversations with analysts tend to be longer (usually one hour) and more detailed compared to press interviews, with analysts expecting an in-depth discussion rather than a classic press Q&A.

Your company spokespeople need to be prepared to interact with analysts in a way that meets their requirements and generates value both for your company and the analyst. An AR-focused training session will bring your executives up to speed with analysts’ ways of working and enable them to forge long-term partnerships (sometimes even friendships!)

AR audit

As with every investment, you will be expected to demonstrate impact and showcase the value of your AR activity. An analyst audit establishes a benchmark against which progress can be measured over a certain period of time, usually a year.  

An audit is an in-depth survey of your key analysts (they are a friendly and helpful bunch!) on what they think about your organisation, your products, market performance, competitive advantage and the industry at large. Such insights not only serve as a reference point when measuring the impact of your AR programme but can also inform your AR and go-to-market strategies.

Tools and monitoring

A robust targeting, monitoring and reporting tool that keeps a detailed record of all engagements is a key component of an AR professional’s foundational toolkit and critical to a professionally executed AR programme.

AR is all about nurturing close relationships with (often) a relatively small group of people so, having an easy-to-use tool that provides a 360° overview of all interactions with an analyst enables a more personalised and tailored approach. Ideally, your platform should allow you to log all engagements, add notes, and serve as a searchable database with analytic capabilities.

Adding Analyst Relations to Your Toolbox

It’s never wise to put all your eggs in one basket. Having a variety of growth techniques will help you build the brand from several fronts at once, even through market fluctuations and other changes.

To start forming your analyst relations strategy, reach out to our specialists today.

When businesses want to grow their revenue, they typically turn to the age-old technique of paid advertising. Ads may have their merits, but you’re likely to be missing out on a powerful way to grow your business.

Analyst relations, or AR, is a way to establish a reputation and build your brand in a way that will have positive long-lasting impacts.

What is Analyst Relations?

In the same way that public relations focuses on building your relationship with the public, analyst relations is a way to build your relationship with analysts. We work to form a connection between you and the independent analysts in your industry, like research and consulting firms.

This is particularly important for B2B companies. Because your customers are businesses, not consumers, and the investments involved are considerably greater, they put higher levels of research into their decisions and look for third party counsel. This is where analysts’ opinions and findings come to the fore.

What Problems Does an Analyst Relations Strategy Solve?

The benefit that analyst relations afford you is by enhancing your credibility. When you build a relationship with analysts, they’re more likely to mention and vouch for you in their publications and referrals. In B2B purchases, that extra credibility goes a long way.

Beyond establishing your reputation as a reliable vendor, analyst relations will boost your brand awareness too. Some potential customers will discover you for the first time through the recommendations and findings of analysts, and this can lead to a great jump in revenue.

Phases of an Analyst Relations Plan

Analyst relations is a tricky task that requires specialized AR strategies and expertise. A strong AR plan goes through three critical stages:

Adding Analyst Relations to Your Toolbox

It’s never wise to put all your eggs in one basket. Having a variety of growth techniques will help you build the brand from several fronts at once, even through market fluctuations and other changes.

To start forming your analyst relations strategy, reach out to our specialists today.