With a few exceptions, too many German companies are still missing a trick or two when it comes to talking to the people who influence technology customers’ buying decisions: the industry analysts.
The fact is, you do not have to be a Fortune 100 company or riding high on the DAX to benefit from the invisible hand of industry analysts. Investing in analyst relations (also known as advisor relations) delivers a direct and measurable impact on the bottom line, by helping you win new business.
Effective analyst relations is not just about making sure that analysts have your company in mind when advising potential customers on selecting providers and technologie. Vendors can also benefit from interactions with the right analysts in other ways: For example, in engaging with analysts as expert sparring partners. Used effectively, analysts can help bring fresh impetus to the product/service development phase. And as you would expect, analysts have their finger on the pulse when it comes to trends and hype topics – so they can tell you what’s wired, and what’s tired BEFORE you get to market.
In short, a small and select group of analysts have the power to make or break a company’s reputation. But a lot of companies are simply ignoring this.
It’s time to engage proactively
Many vendors only start to pay attention to industry analysts once they’ve been hit by a sledgehammer – for example, when a (perhaps unknown or unlikely) competitor has swept in to snatch a deal that was all but signed, sealed and delivered. Or perhaps sales inquiries have skyrocketed after an analyst report included an up-and-coming vendor as “one to watch”.
The trick to effective industry analyst relations is to know which analyst – and firm – is right for your product or service. All analysts are not the same – some specialize in advising enterprises, others are experts in helping vendors. A select handful really influence deals, as they are creating and reviewing the RFPs that enterprises use to select technology vendors.
Destrier’s analyst relations specialists know the industry inside out. This means we’re able to guide you on which analysts it makes sense to engage with – and to explain why. This will vary, depending on what the company needs, and its maturity towards engaging with external advisors. Despite what you might be tempted to believe, many of the most relevant analysts – we mean those with a proven influence on your target customers – are generally not the ones who make the most noise. Our metrics-driven approach, rating analysts according to true spending influence, means Destrier can help you to maximize the return on your investment in AR.
We’re often asked what size a company needs to be to benefit from AR? The answer is: Size doesn’t matter.
The real answer depends on a customer’s product or solution, its goals, and its international outlook. We’ve seen tiny start-ups get snapped up by industry leaders after being highlighted by a single analyst report. There is a perhaps confusing choice of different levels and methods of AR engagement. One of our first steps is to ask what success looks like: to help clients to determine where and how we can help deliver the greatest results from investing in professional AR support.
If you are thinking about exploring opportunities to make effective analyst relations part of your go-to-market strategy, get in touch.