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?


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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


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


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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]


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My two sentences Build a relationship for the long term.

Here’s how.


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Eight tips for working with analysts


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1. Understand analysts’ motivation


Know what makes them tick 9

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


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2. Understand the business model


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


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3. Understand the service offering


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


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4. Before: do your homework


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.


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5. During: don’t “pitch” us


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.


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

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6. If we say your baby is ugly…


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


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7. Working with analysts


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


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7. After: the long view


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

working with-industry-analysts

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