Bland analyst relations satisfies no one. But the right chef using the right ingredients will whip up results that vendors hunger for. Hunger for!
Most business leaders sample the appetizer and move onto other activities before the main dish is served. They even miss dessert. They go for some coverage and aspire to appear in an analyst report. That’s a great start, but there is so much more.
Gourmet analyst relations deliver these 10 tasty benefits:
Gets you on the map. No matter how great you are, if no one’s heard your name, it’s the tree falling in the forest, one hand clapping, or whatever metaphor suits. When you impress an analyst with your unique and disruptive approach, they will talk about it in reports, blogs, and traditional and social media. Analysts can also be leveraged for demand generation and content marketing by appearing at your events and webinars, creating custom content, licensing their research, and more.
Shows you the truth. Don’t your ideas and strategy sound good? Every leader, from startup founders to presidents of huge business units, find themselves inside a bubble of belief. It’s hard to know what is real. Analysts will pop that bubble in a minute and show you a view from the outside that can open up the world.
Helps you learn to listen and act. Nobody wants to hear that their baby’s ugly. It hurts. But when you regularly open yourself up to feedback, you get better at it. Throw “not invented here” out the window. Take input and act with agility. Building strong relationships with analysts can create a feedback loop that helps you understand how your business is perceived in the market and what you can do to improve. And analysts love vendors they've helped improve.
Makes you a whiz on your space. Analysts have a deep understanding of market trends, competitive landscapes, and emerging technologies. Engaging with them can provide your business with valuable insights, helping you make informed decisions and stay ahead of the competition.
Brings you customers. Analyst briefings can lead to new business opportunities as analysts may recommend your solutions to their clients or the media. Let them “discover” you and wax poetically on your virtues.
Tunes your product and roadmap. Analysts have insight into what customers need, and get that insight from talking openly with thousands of them. It's near impossible for vendors to have that many conversations. Engaging with analysts gives you constructive feedback on your products and strategies. They provide insights on areas that need improvement and suggest enhancements that make your offerings more competitive.
Nails your killer story. Ever spend hours and hours getting your story perfect, then finding you’ve missed the mark? Analysts hear all the stories and see the white space. They have a unique feel for what will make you stand out.
Validates your credibility. Analyst reports and discussions carry weight in the industry. Positive assessments from reputable analysts enhance your company's credibility and validate your products or services.
Builds your network. Analysts seem to know everyone in the ecosystem and have relationships with would-be partners, investors or employees. They like to be matchmakers.
Impresses investors. Investors tap analysts to understand the dynamics of the market, including hot vendors. When an analyst knows and can vouch for you, sweet things happen. Positive analyst assessments can influence investor sentiment and investment decisions. A good relationship with analysts can show you the money.
Can every analyst help your business in all these ways? No. Are all analysts stellar? Also no. Good AR chefs understand who the best firms and analysts are, and apply them according to a smart recipe.
So eat up! Work up a good analyst relations appetite and enjoy the whole meal.