When you are looking to hire a public relations firm, don’t forget about analyst relations. If you already have pre-existing relationships with analysts, your PR firm can help you navigate these relationships and get the most bang for your buck. PR and AR go hand-in-hand. But if you haven’t previously engaged in analyst relations (and are in B2B tech), you probably should be. Hiring a PR firm is a great place to start. Almost every PR strategy in the B2B technology space includes AR, but why?
What are industry analysts and why are they important?
We know you have heard of Gartner, Forrester and IDC…but there are also tons of smaller analyst firms that represent all types of industries. Analyst firms are trusted advisors to top enterprise companies. They research software solutions and industry trends and regularly talk to hundreds of companies. More than anyone else, they have a deep understanding of what is happening in the area they represent.
This is why they are important. Your customers are likely talking to analysts, and you want to be a part of that conversation.
But what if I’m not ready to have a paid contract with anyone?
Analyst firm relationships are expensive. They are highly valuable to many companies, but many companies (especially startups) are not ready to invest the time and money into AR to make them worth it. This does not mean that you shouldn’t be briefing them, though. Sure, we are not going to say that having a paid relationship doesn’t mean that your chances of appearing in a report are higher. Of course they are. However, it’s still important to be part of the conversation and make sure analysts understand what your product does and what value it brings. Analysts firms are very open to being briefed by companies who are not customers. In fact, being briefed by all companies (not just customers) is essential to their job, as well.
Why should PR handle AR?
At its core, public relations handles how we communicate the message of your brand to those outside the company. Agencies understand how to keep the right audiences in mind. Like pitching to the right reporters at the most opportune time, your PR firm can also provide guidance on the best analysts to target, how to build these relationships and how to secure coverage.
AR strategy also fits nicely into PR strategy. For example, major product announcements where you are briefing the press is also a great time to brief analysts. But while outreach to journalists is generally widespread across multiple outlets, and off and on as there’s news to report, outreach with analysts is a long term play that requires more regular touchpoints. A PR firm can help your busy company stay apprised of upcoming analyst reports and events so you’ll avoid missing key opportunities. It’ll also give you ample time to get your strategy, numbers and data together.
For many companies, analyst relations aren’t as important, shiny or exciting as media relations. We get it, trust us. But it is important. Having analyst relations handled by your PR firm is just smart –– it ensures that you are doing the work necessary and keeping AR strategy in mind. It goes hand in hand in with your PR efforts and is just another way to effectively reach customers and be part of the industry conversation.
Interested in learning about analyst relations and how Convey can help you craft an effective strategy? Reach out to us today at [email protected].