How to Hire an Analyst Relations Firm
Analyst relations firms can simplify communications with industry analysts. But the wrong firm has the potential to make your life a living hell. Here's the information you need to hire an analyst relations firm that is capable of helping you put your best foot forward with analysts.
Analyst relations firms leverage relationships and expertise to help your company build strong relationships with analysts.
Industry analysts are tasked with objectively assessing industries and markets. If you have a great product, the hard part can be getting it in front of the right people - and that's where analyst relations firms come in.
A first-rate analyst relations firm is capable of introducing your company to the top analysts at the most sought-after firms. But equally important is your firm's ability to counsel you throughout the analyst relations process. Analyst targeting, briefing preparation, relationship building -- a quality analyst relations firm will help you handle all of it.
You just need to ask the right questions to make sure your analyst relations firm is up to the job:
- Do they have a track record with the qualified firms? - Relationships are a key ingredient in your analyst relations firm's efforts to expose your business to the best analysts. If your analyst relations firm lacks relationships or if their relationships are with analysts outside your industry, they'll be unable to target and influence key analysts.
- Are they a legitimate analyst relations firm? - Many analyst relations firms are really just departments of PR firms. Although they may seem similar, PR firms and analyst relations firms have two very different functions. Most PR firms don't specialize in analyst relations -- and that's a problem if you need access to top tier industry analysts.
- What services do they offer their clients? - Industry contacts are only part of the equation. You need a full service analyst relations firm that is experienced in helping their clients devise briefing strategies and perform competitive analysis. It also helps if your analyst relations firm can hook you up with one or two key analysts for pre-briefings and other consultations.
- Does the analyst relations firm understand your business? - In a sense, you're trusting your analyst relations firm with your company's future. It's absolutely critical for your analyst relations firm to understand your business, your industry, and the competitive landscape.
- Do you have chemistry? - Before you commit to an analyst relations firm, take a step back and make sure there is chemistry between your firms. Analyst relations is an important, but complicated business function. The last thing you need are personality or culture clashes when it really counts.
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