The Power of Analyst Relations — More than Magic Quadrants
Edition 12: An Overview of AR
Welcome back to SWYA - a practical Substack focused on Applied Product Marketing strategies and tactics. Today, we're diving into Analyst Relations. As a former analyst, I'm intimately familiar with both the inner workings of research firms and their external reputations. I've also seen the many ways analyst firms can be leveraged - and how they're often underutilized by companies that pay for their services. Given the significant investment required for analyst firm subscriptions, let's explore how to maximize their value.
The Secret Weapon of Analyst Relations
While most people know analyst firms for their flagship reports like the Gartner Magic Quadrant - which drive awareness and credibility for featured companies and influence purchasing decisions - a robust Analyst Relations program can be much more than that. When leveraged strategically, Analyst Relations can become a genuine competitive advantage. Analysts can contribute throughout the entire go-to-market lifecycle: from identifying opportunities and developing products to validating markets, enhancing marketing efforts, and generating sales. In this series, we'll explore the world of Analyst Relations and uncover ways to leverage these firms that you might not have considered.
Understanding Analyst Relations (AR)
Analyst Relations (AR) typically operates within a company's corporate communications department - and for good reason. AR significantly impacts brand reputation and works closely with Public Relations (PR) on various initiatives.
The primary focus of an AR program is building positive relationships with industry analysts across relevant firms in your sector. While the ultimate goal is generating positive influence to increase market awareness, credibility, and sales, the most effective relationships involve bidirectional information exchange.
The AR team facilitates these exchanges through a variety activities, including but not limited to the following:
Analyst briefings and inquiries (yes, they are different, each serves its own distinct purpose);
Securing placement in high-profile reports;
Providing customer references;
Commissioning custom research projects;
Developing and participating in promotional strategies; and
Participating in industry and analyst events.
The Information Exchange
A successful analyst relationship requires two-way communication. Companies that only push information to analyst firms miss valuable opportunities for market feedback, insights, and sales opportunities. Here's how the information typically flows:
From Analyst to Company:
Broad market insights and trends derived from hundreds of client conversations;
Findings from large-scale research reports (both published and custom); and
Direct feedback on specific topics, ranging from new product ideas and pricing changes to customer needs, event strategies, and even messaging and website content (typically as part of an Analyst Inquiry).
From Company to Analyst:
Product offerings and market strategy updates;
Direct conversations between product/marketing teams and analysts (typically as part of an Analyst Briefing);
Regular communications about product updates, new offerings, and business growth; and
Timely and accurate information for published reports to ensure optimal positioning.
While industry analysts are particularly prevalent in the technology sector for influencing buying decisions and enhancing market reputation, they operate across many industries. While this series will focus primarily on technology sector analyst firms, many of the principles apply broadly.
Next time, we'll examine the analyst firms themselves - exploring the key players and their unique specialties.
As always, thanks for reading, and until next time…
"It's too late to be ready." ― Dogen Zenji
-SWYA