An in-house analyst relations specialist can be a nice addition to your staff, especially if your company is located in the ITC industry.
Ideally, you are looking for an analyst relations professional – preferably someone with a reputation for working with the best analysts at the top analyst firms.
Unfortunately, that's probably not the analyst relations expert your small or medium-sized company can afford to hire. The best analyst relations specialists can be pricey and out of reach for the average business owner. So the real question is, what does the typical analyst relations hiring process look like? And how can you identify qualified analyst relations specialists when you meet them?
There are a lot of people who call themselves industry analysts these days. But in reality, many self-described analysts are little more than market researchers.
You really have to go the extra mile to make sure you're getting what you pay for. Here are a few things to consider when hiring an analyst relations manager:
- Analyst relationships. If an in-house analyst relations candidate doesn't have pre-existing relationships with analysts, it's difficult to see how they can be useful to your company. In the current job market, you should look for applicants who have relationships with companies like Gartner, Forrester, Gilbane, and IDC.
- Thought leader positioning. Your new hire has to be capable of establishing your company as a thought leader in your industry. The way that will happen is through intelligent communication with analysts via briefings and informal dialogue. Likewise, successful applicants should possess the ability to maximize analyst impact during product launches.
- Sales support. In-house analyst relations personnel are responsible for providing two-way sales support. Your analyst relations specialist will educate sales staff based on analyst feedback and offer analyst referrals to prospective clients – making sure that the analysts she identifies will give prospects positive product reviews.
- Competitive analysis. Using analyst reports and their own research, analyst relations staff conduct competitive analysis for your business. Specifically, analyst relations hires are tasked with understanding the company's competitive environment and identifying competitive threats.
- Feedback reporting. A competent in-house analyst relations specialist will also provide comprehensive reporting of analyst feedback throughout your organization's chain of command. This feedback is essential for in-house leadership functions like strategic positioning, gap analysis, and product development.