working with-industry-analysts

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June 1, 2012

Susan Etlinger Industry Analyst

Working with Industry Analysts Eight Tips for Entrepreneurs

© 2012 Altimeter Group

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Altimeter Group provides research and advisory for business leaders challenged by disruptive trends, to enable them to pursue

new opportunities and business models.

Who are we?

© 2012 Altimeter Group

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What we’re thinking and writing about in 2012

•  Dynamic Customer Journey •  Adaptive Organization •  Sentient World

For more about how we are thinking and writing about these trends, please visit: http://www.altimetergroup.com/research/research-themes

© 2012 Altimeter Group

Who am I? 4

  10 years in house in Corp Comm, marketing, IT   10 years agency: startups to Fortune 500

counseling entrepreneurs and execs   Today: Industry analyst covering social analytics,

voice of the customer, “big data”   Receive approx 50 briefing requests per month (I

can do 5-10; more when working on a report)   Been on both sides of the fence; analyst relations

and analyst

© 2012 Altimeter Group

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Your Task Think about the two sentences you want the analyst to walk away with.

What should they be? [Hint: mine are on the next page]

© 2012 Altimeter Group

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My two sentences Build a relationship for the long term.

Here’s how.

© 2012 Altimeter Group

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Eight tips for working with analysts

© 2012 Altimeter Group

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1. Understand analysts’ motivation

© 2012 Altimeter Group

Know what makes them tick 9

  Looking smart   Access   Ideas for research   Identifying trends   Building influence & reputation   Staying valuable, relevant and sought-after

© 2012 Altimeter Group

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2. Understand the business model

© 2012 Altimeter Group

How do industry analysts make money? 11

  Research reports, Advisory services, Projects, Speaking engagements, Other

  What are you buying? Access to the research? The analyst? Their customer base?

  We don’t all work the same way: Paid research versus open research

  Established business models are under threat   We are not the same as equity analysts

© 2012 Altimeter Group

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3. Understand the service offering

© 2012 Altimeter Group

The infamous question of “pay to play” 13

  Never pay to brief an analyst   Are you being asked to pay or buy services to be

included in reports?   This is why understanding the model is so

important; what is part of the research process vs what is part of the service offering

  Models are different, so transparency is key

© 2012 Altimeter Group

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4. Before: do your homework

© 2012 Altimeter Group

How to prepare 15

  Know what analysts cover and what they’ve written on   Look at how they’re organized: industry, horizontal

coverage area, practice area

  Know the frameworks and potential implications to your business

  Find out their revenue mix; percentage from vendors versus brands

  Find out rules of engagement; what is fair game, what is embargoed. Unless you have a paid relationship, many analysts will not sign an NDA for a briefing.

© 2012 Altimeter Group

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5. During: don’t “pitch” us

© 2012 Altimeter Group

In the meeting… 17

  Confirm rules of engagement   Have an agenda   Don’t waste time on logo slides and background;

get to the point fast   We see dozens of companies per month; why are

you special?   Don’t condescend, don’t sell. Be nice. Be

prepared. Be real. Be curious.   Don’t offer gifts of any value; we can’t accept

them   Ask questions. Listen. Ask more questions.

© 2012 Altimeter Group

* No actual babies were deemed ugly for the purpose of this presentation.

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6. If we say your baby is ugly…

© 2012 Altimeter Group

Criticism in context 19

  It’s not personal   Don’t be defensive, but do ask for supporting

evidence   Don’t walk away or write them off; stay engaged   Maintain a balance of advocates and detractors;

detractors keep you honest   Remember: the analyst’s focus is pattern

recognition

© 2012 Altimeter Group

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7. Working with analysts

© 2012 Altimeter Group

How to work with analysts 21

  Press references   Speeches, webinars (influence)   Advisory

•  Positioning •  Message review •  Roadmap •  End user insight

  Always keep the next briefing in mind

© 2012 Altimeter Group

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7. After: the long view

© 2012 Altimeter Group

Thinking for the long term

* Actual mileage may vary

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  If you’re in an emerging or disruptive market, don’t rely only on analysts who work within established categories.

  Seek out the analysts who “get” you. This does not mean they always think you are amazing. That is your family’s job.

  Build trust. The goal is to get to the point where we’ll take a briefing no matter what, and we know each other so well we can do it in 20 minutes

© 2012 Altimeter Group"

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Susan Etlinger susan@altimetergroup.com

susanetlinger.com

Twitter: setlinger

THANK YOU