Elements of An Effective Analyst Relations Strategy
You've heard a lot about analyst relations and how it can benefit your company. But what are the elements of an effective analyst relations strategy? And how can you maximize the impact of analyst relations for your business?
Information and communication technology (ICT) companies are well-versed on the value of effective analyst relations strategies.
Companies who sell technology hardware, software, networking, and IT services often benefit the most from analyst relations, but an analyst relations strategy can also be effective in many other industries.
The general rule of thumb is that if your company sells to customers who are influenced by analysts, you will benefit from analyst relations strategy.
Good analyst relations strategies contain several elements that differentiate them from PR - including these must-have elements for an effective analyst relations strategy in your business:
- Advance briefings. As a matter of professional courtesy, analysts appreciate being contacted prior to a press launch. Analyst briefings that occur at least several days before a major announcement or press release give analysts the chance to thoughtfully consider your company's news before media representatives track them down for comments.
- The analyst role. Although analysts can (and frequently do) write for blogs or other publications, they are not primarily journalists. Instead, analysts view themselves as informed, independent third-party experts and they appreciate analyst relation professionals who treat them that way.
- Early contact. It's always a good idea to develop relationships with analysts early in the life of your company or long before you begin a product rollout. By talking to analysts early, you help them understand the evolution of thought and design that have gone into your product or process.
- Quarterly briefings. Additionally, the most effective analyst relations strategies incorporate quarterly briefings. These briefings give analysts the ability to monitor your progress and stay current on developments that affect the entire industry.
- Augment quarterly briefings. Formal, quarterly briefings should be supplemented with a steady stream of informal calls and meetings. Briefings give analysts the information they need to serve their clients, but informal meetings provide opportunities for dialogue and relationship building.
- Give-and-take. The best analyst relations professionals understand that briefings and other events aren't just about feeding information to analysts. They are also about asking analysts to give you their impressions about your company, your products, and the general marketplace. The majority of analysts will happily share their knowledge with your team, especially if you have invested in the relationship.
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