Pulse Check: Analyst Relations Transformation

I've been thinking about writing this article for a while. It's been top of mind because I face it a lot when I'm talking to other colleagues and consultants in the industry.

Analyst relations is perhaps one of the most misunderstood and underutilized professions and strategies in marketing and communications. For background purposes, I've been handling analyst relations for all types of Fortune 500 and startup companies for the last three decades. It's a passion of mine and a delicate art form I've seen evolve in so many ways, shapes and forms in that time period.

Analyst relations in its simplest form is establishing relationships and connections with key influencers in the market - industry analysts, third-party advisors, and even investors. They are a different breed than the media because they advise companies on strategies and have to learn about companies to provide information to their clients. They also write cutting-edge research and reports in the form of subscriptions to their clients. It's a long-term relationship that requires lots of care and feeding.

So where are we today and is analyst relations truly evolving?

The good news is...

1) Most companies have an in-house team of AR professionals or an AR agency handling briefings, requests, inquires, and events with industry analysts and consultants.

2) AR is finally a key ingredient in a company's marketing and communications fabric because they realize analysts influence customers and help boost market share.

3) Events, especially during the pandemic, are becoming more virtual and Zoom-like, eliminating travel costs and providing more valuable interaction time. In addition, more industry analysts are participating in company-sponsored webinars and events.

But there's still areas of improvement in the evolution and scope of analyst relations.

Here are 5 thoughts and strategies I think companies should consider as they make more investments in AR:

1) Analyst relations needs to have a better seat at the table. Too many times, AR is sitting at the kid's table without decision-making power about when to brief the analysts about specific products, technologies or strategies. Analyst relations professionals should always have a strategic marketing hat on with ideas about messaging, timelines to go to market, and feedback on specific analysts a company should target for an announcement. Having a "proactive" vs. "reactive" analyst relations strategy is really the key.

2) Analyst relations is NOT one-sided. While industry analysts and consultants like to be briefed on XYZ product and technology periodically, the most productive interactions are about trends in the market that impact the analysts' clients and customers. After all, analysts like when you listen to them too :).

3) While virtual and face-to-face events are great, please don't ask analysts to sign NDAs about customers and tell them to endorse your products. This ruins the credibility of the relationship. Analysts are never going to advertise your products but they will examine the pros and cons vs. other solutions.

4) Staffing issues and a lack of talent in the industry analyst relations space is forcing companies to outsource or bring in junior-level PR people to handle interactions with big ticket analyst firms like Gartner, Forrester, IDC and Horses for Sources. This brings into question why an analyst firm would even want to work with you. However, there's a silver lining here. Last I checked there were more than 100 open analyst relations job recs on LinkedIn. This means there's a growing interest in staffing the function with the "best of the best."

5) Last but not least...Like a fine wine, analyst relations departments need to mature and evolve with the analysts they are ranking, tiering and targeting on a regular basis. Whether you are targeting Gartner or a smaller boutique firm that has influence over a key vertical market, these symbiotic relationships need to be developed over time. This enables trust to be established and is a huge win for the the company and the analyst firm.

What are some of your thoughts about how analyst relations has evolved? I would love to hear more in your comments. If I can help you with your analyst relations needs, please feel free to send me a message.

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