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Does your go-to-market strategy feel a little flat? Like it's not landing with your target customers the way you want it to?
Often, your customers, investors, and competitors will be merrily chatting away about their purchase decisions and how they see your brand - but not to you. Instead, they'll be chatting to analysts at firms like Forrester, Gartner, and IDC. That's where the fine art of analyst relations (AR) comes into play.
We recently hosted a podcast with analyst relations experts and co-chairs of the PRCA AR Council, Nadia Nizar and Claire Williamson. Nadia is Senior Director of Corporate Communications at SS&C Blue Prism, and Claire is the founder and Managing Director of Resonance - so they have, you might say, been there and done that when it comes to AR.
Together, we discussed the role analyst relations plays in positioning your brand - and why senior marketing professionals should care. Here are some of the top insights from their discussion:
What is Analyst Relations? (02:30)
Analyst relations helps companies learn about industry trends, gain insights from customers and competitors, and position themselves strategically in the market. Engaging with analysts provides an outside perspective to help companies make better business decisions.
CMOs and senior marketing professionals can use AR to optimise messaging, campaigns, and content to make sure they're resonating with customers and prospects. If done right, AR can help you nail your go-to-market strategy. It's easy to get caught in a bubble - but analysts will set you straight and help you speak your customers' language.
MEASURING SUCCESS WITH ANALYSTS (13:20)
You must set clear goals and metrics when working with analyst firms to properly evaluate the impact of the relationship and ensure accountability on both sides. Measurement is key if you want to optimise your engagement with analysts over time and make the most of your AR spend.
Choosing the Right Analyst Firms (15:25)
Companies should select analyst firms based on their goals and objectives. Firms that specialise in certain industries or geographic regions can provide more targeted insights. It's important to work with a variety of analysts to get different perspectives into messaging, perception, and brand voice.
running perception audits (29:35)
Marketers can use analysts to understand how a brand is viewed versus competitors through customer surveys. Claire shares an example of a client that conducted perception surveys of customers and prospects with the help of analysts to identify which small tweaks could influence purchase decisions.
workshopping your brand storytelling (34:51)
Analysts can help companies understand how they are perceived in the market versus competitors. Working with analysts on perception audits and brand messaging helps optimize a company's positioning. Their insights also strengthen content, campaigns and sales enablement.
However, breaking down complex research reports into plain English can be a monumental marketing challenge.
Staying Ahead of Technology Trends (38:22)
Analysts provide guidance on emerging technologies by helping to validate solutions and use cases. Companies that engage analysts are better equipped to adapt to changing market conditions and stay ahead of competitors.
If you're struggling to lift your ABM approach into a pipeline of new leads, find out how analyst relations can supercharge your ABM strategy.
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Interested in finding out more about Analyst Relations? Head over to our Definitive Guide to Analyst Relations and uncover all the information you need to know about Analyst Relations: |
Top Tips for Analyst Relations
Before you embark on your analyst relations journey, remember: not all analyst firms are the same, and not all are worth it, so consider the following:
- What is your business strategy?
- What is your product play (innovation, strategy, etc)?
- What is the influence of the analyst firm on your target audience(s)?
- How will you use the reports? For example, brand awareness, demand generation, RFPs, investors, etc.
- Do you have a relationship with the analyst firm? If so, why and in what capacity?
- Get your account managers to work it for you. If they don’t, get a new one.
- Are you ready to commit money, time and resources? It’s not just about the money. It's about how you activate the investment.
And that was our 25th episode! This is a very special edition of Wavelength, and we hope you enjoyed it. Stay tuned for our next episode. If you'd like to be featured on an upcoming episode, get in touch with us today.
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