Eight ways AR wins referrals from B2B tech analysts

I just participated in today's great discussion group led by Chris Germann , Noelle C. Shipley and Robin Schaffer (and hosted by The IIAR> (Institute of Influencer & Analyst Relations) on sales enablement. I shared my thoughts on how important case studies and use cases are, but there was much more on my mind.

To use referrals more effectively in the context of Analyst Relations (AR), it is important to define them first. Referrals in this context are the practice of analysts referring vendors to potential clients or the use of analyst quotes and endorsements in marketing and sales materials.

Referrals come from relationships

Most importantly, almost all referrals and recommendations from analysts come after they have been informed by the providers they recommend and have built a relationship with them. Winning referrals is one of the benefits of AR, and you can only expect them after building the right rapport.

Use cases and case studies are key resources because of problem content and sweet-spot context. They contain concrete examples of the sort of problems your solutions solve. Looking at these examples gives analysts the context about your firm's sweet spot: where it is playing most strongly.

You build analyst relations by contributing useful insights about client value and building trust. That means the eight things you need to do to win sales recommendations are also key to giving analysts insights.

Help them learn if you want to earn.

This is how world-class AR programs win more analyst recommendations

1. Build Strong Relationships with Analysts: World-class AR programs focus on building and maintaining top-of-mind awareness with analysts. By providing timely and relevant information to analysts, they are more likely to refer to your company or products when speaking with potential clients or in their research reports.
2. Leverage Analyst Interactions: Use various interaction formats to engage with analysts, such as briefings, inquiries, and consulting days. These interactions should be tailored to the needs of the analysts and should provide them with valuable insights and data points that they can use in their work.
3. Provide Market Feedback: Analysts value the opportunity to impact vendor strategy. By regularly probing analysts for feedback on how your company’s messages and market positioning resonate, you can improve your strategy and strengthen the relationship with the analyst, making them more likely to refer you.
4. Incorporate Analyst Feedback into Strategy: Act on the feedback received from analysts. By demonstrating that their insights are valued and integrated into your company’s strategy, you build trust and credibility with the analysts, which can lead to more referrals.
5. Train Sales Teams: Educate your sales team on leveraging positive analyst research and commentary and addressing negative situations. This knowledge enables them to use analyst referrals more effectively in their sales conversations.
6. Coordinate with PR and IR: Work closely with public relations and investor relations teams to leverage the influence of analysts over these programs' constituencies. This can lead to increased visibility and referrals from analysts.
7. Monitor and Measure: Implement a measurement program to track the impact of analyst referrals. This could involve tracking the number of times your company is mentioned in analyst reports, the sentiment of those mentions, and the correlation with sales opportunities.
8. Provide Analysts with Tools: Equip analysts with the necessary tools and information to make informed recommendations. This includes providing them with case studies, market data, and other resources that support your value proposition.

By focusing on these strategies, you can enhance the effectiveness of referrals in your AR program, increasing visibility, credibility, and, ultimately, more business opportunities.