What is Analyst Relations?
Kristin Canders, Vice President, Media Relations
You’ve heard of media relations and influencer relations but what about analyst relations? Even if you’re not new to the concept, you might have some questions about how analyst relations complement PR programs.
If you are a company planning to transform, expand, go public, go private, launch a new product, expand to new channels and geographies, or get serious about competing in a new area, analyst relations could be an important stepping stone in your overall climb towards your goals. Here’s why:
First things first
Analysts - you guessed it - analyze market trends, businesses, technology, and users of that technology; they are experts in their respective fields. They track a wide range of market elements including customer needs, budgets, and buying decisions; technology innovation, disruptions, adoption, revenues, and much more. A good analyst is knowledgeable, impartial, and cultivates a vast network of industry stakeholders.
Analysts are key for decision makers
There are three important reasons to engage analysts:
Analysts communicate their evidence and findings in regularly published research reports, which are shared with their subscribers (your potential customers and partners as well as private equity firms, banks, law firms, governmental agencies, strategy consulting firms, etc.) and often serve as an industry almanac.
Most analyst firms offer high value research services that can help companies get answers to the questions they have about their market potential. This could be in the form of research-backed data that can be used to help formulate a go-to-market strategy for a new technology launch, determine where to expand into a market or geography, or gain valuable insights into evolving trends that may or may not impact roadmaps.
Because of their exceptional research, reporters look to analysts for their opinions. They will often include them in articles or invite them for broadcast commentary as the expert source and vice versa - many analysts regularly contribute articles/columns to media outlets.
With the above in mind, it's important to engage analysts covering your market/technology/industry and provide them with valuable data that aids in their research.
So you ask, where do I start? It's straightforward:
1. GET ON THEIR RADAR
Identify: The most important step is your research on which analysts cover your market and or technology offering. No cutting corners, do your homework and research analyst-published work, commentary, and inclusion in other communications to be sure they are a good match.
Engage: Initiate conversations by sharing current key company news like an innovative technology offering or acquisition - something that is important for them to know for their research/knowledge of the market.
Brief: Once you have connected, ask for time to brief the analyst on your business, technology, and/or service and customers. Prepare for the meeting by outlining your key points in advance.
2. SUBSCRIBE
You researched, engaged, and briefed analysts covering your industry. At this point, you have identified which analysts are most aligned with your business. It's time to look at becoming a subscriber. There are a wide range of benefits to becoming a subscriber, including:
Regular time with analysts throughout the year, which guarantees that the analyst will be up to date on what your company is doing, or looking to do.
Inquiries with additional analysts in other areas of focus at the firm to talk about an area of expertise they have and/or research that they have done to apply to your business.
Access to all of the firm's research data, reports, and surveys that provide context to inform your company's decisions; survey responses often have insights from customers or partners so you can see exactly what they’re thinking.
If you are a subscriber, you may also have input on their survey questions to ensure the questions they are asking would answer questions relevant to your current business needs. This makes the surveys even more relevant to you.
Mentions in the press if your expertise is relevant to the conversation the journalist and analyst are having.
Quotes in your press announcements; some analysts will provide a quote for your press releases if the news relates to their general market research and knowledge.
Feedback and analysis of what your company is doing, as well as opinions, suggestions, guidance, insights, and information based on conversations that they are having to inform their research. Subscribing gives you a two-way conversation that many clients find extremely beneficial.
Questions? Contact us to learn more about our approach to analyst relations and if it’s the right fit for you.
