When the Going Gets Tough, Double Down on (Industry Analyst) Relationships
By: Holly Barnett and Ali Donzanti
There’s a saying among many of us who work with industry analysts for a living – our profession is called Analyst Relations for a reason.
A strategic analyst relations (AR) program has a lot of moving parts and involves a healthy dose of research, strategy, counsel and planning. And a significant percentage of an AR program’s success and business impact is predicated on the strong relationships we build and nurture with individual analysts.
For many of us, face-to-face interactions in the form of advisory days, events and deskside tours are essential elements of an AR program. With this in mind, it’s understandable many organizations worried their AR programs would be at risk when social distancing and travel constraints went into effect. However, we’ve found just the opposite to be true.
Even as cities begin to reopen for business, they’ll likely remain restricted one way or another for the foreseeable future. Here are five simple things you can do right now to make sure you and your teams continue to create and maintain strong analysts relationships without relying on in-person meetings. (Beyond the obvious switch to video conferencing we’ve all become accustom to.)
- Max out inquiry time: Few things help build relationships between subject matter experts and analysts than regular two-way discussions. Most firms call these “inquiry” or “advisory” calls, and they are typically included in firm subscriptions or retainers. If you have access to inquiry, use it to the fullest. If you don’t, be sure to spend even more time than usual researching the analysts you brief and make sure your SMEs do the same. You can still have a meaningful dialog and build strong relationships. (And if you’re an AR person, remember your personal subscriptions also include analyst access. Some of our best insights and strongest relationships have come from calls without an SME on the line.)
- Request make-up 1:1s: Since the outbreak of the pandemic, many analyst firms have cancelled events or pivoted to an online format. Analyst 1:1s are typically offered to event attendees, which can be especially helpful if you want to meet with an analyst who is not part of your subscription to the firm’s services, or if you don’t have a subscription at all. If a cancelled 1:1 is critical to your program, inquire about scheduling a make-up call. We’ve found firms to be accommodating.
- Get a second opinion: Chances are your marketing, sales and other business operations will continue to adjust their roadmaps and messaging to align with the changing times. Remember analyst inquiries can be used for “document reviews,” during which analysts review content and help ensure messaging alignment with market needs and sensitivities. Document reviews send a strong message to analysts that you understand, respect and appreciate their knowledge and expertise while giving them early insight into your company’s approach. Its’ a win-win.
- Make it easy: Few things are easy right now. Working with you and your team should be one of them. We should always deliver easily consumed information. But think about how you can do an ever better job. Something as simple as providing a sharable version of speaker notes along with a briefing deck can go a long way for an analyst compiling multiple vendor briefings into a research note. And if you provide customer references for a report, be mindful they may have work-from-home challenges. Be sure customers understand what’s asked of them and be ready to follow up if they fail to respond in a timely manner. Again, things we should always do, but now’s the time to be extra proactive and responsive.
- Connect as humans: Before any interaction, remind everyone on the call that analysts are humans first and analysts second. Many have been through the wringer of home schooling, worrying about loved ones, the transition to remote work, and now the added stress of deciding when and how to go back to the office. Take time to ask and really listen to how they are and adjust your approach just as you would a coworker or friend. There will still be plenty of time for the business part of the call.
Over the past few months, many of us have learned lessons and new strategies that will help us live better connected lives. Hopefully that also applies to the work we do to support the companies, clients and analysts we engage with every day. Being mindful of best practices will continue to strengthen analyst relationships and create long-term bonds that positively impact AR’s role to the success of our organizations.
Holly Barnett is a Senior Vice President and Head of Analyst Relations at Allison+Partners. She leads programs that help clients shape perception and drive advocacy with industry analysts who influence buying decisions.
Ali Donzanti is an Account Manager in the Corporate + Public Affairs Practice at Allison+Partners. She focuses on external communications for a number of global B2B tech accounts across a wide variety of industries, including emerging tech, cybersecurity, healthcare and more.
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