When should we enter the AR channel?
At Spotlight, we are passionate about helping clients run best-in-class analyst relations programs and using the information garnered through the AR channel to be a true, strategic partner in your business. We offer consulting services to match the needs of each individual organization and have created a technology platform, Spotlight Oz, to help you deliver meaningful impact to your business through analyst insights. So yeah, I guess you could say that we eat, sleep, breathe, heck even sometimes dream about analyst relations.
For those of you who might be new to the world of analyst relations, welcome! We’re happy to have you here. But, how do you know when it’s the right time to start prioritizing AR within your organization? Spotlight uses five key identifiers to understand if now is the time for an organization to enter the AR channel. Keep reading to learn if now’s the time for AR within your organization.
Start By Building A Relationship
Analyst relations is a true art of relationship building. Industry analysts that work at firms like Gartner, Forrester, IDC, Everest Group (just to name a few) are writing impactful research reports that cover thousands of markets. These reports can be a tool to inform customers on vendor capabilities and the future direction of a specific market.
If your market is being covered in research by an industry analyst, organizations included in those reports are likely to be recommended to customers who consult with analysts about vendor needs. If an analyst hasn’t been introduced to your company, the likelihood of being recommended by them to a potential client decreases tremendously. Organizations have the opportunity to provide updates to analysts in the form of briefings. Spotlight can help you identify the most influential analysts in your space and help you craft a message specific to their market coverage and research.
To learn more about how to identify key analysts based on your program’s objective, check out our blog.
Be Where Your Competitors Are
With thousands of new businesses hitting the market every day, a huge challenge for most organizations is gaining a larger share of the voice. When analysts are writing reports, it’s their job to provide an unbiased view of the market, all competitors, and the capabilities available from each. Analyst firms, like any business, have customers. Those customers reach out for all types of challenges they are facing within their organization. If your competitors are participating in analyst relations and you are not, you’re missing a direct opportunity for new business.
Talk To Your Sales Team
I’ll begin with the matter-of-fact statement– if you are pursuing enterprise prospects, there is no reason you should not be in the channel. A quick conversation with your sales team may be worthwhile.
Having an understanding of how current analysts influence your prospects, leads and deals will help drive priority within your program. For example, we find that a win/loss analysis with your sales team could be worthwhile to understand the true opportunity your company could gain from the channel.
The Best Time To Start Is Now
A common thread we hear through conversation is that some organizations want to further develop their offering or capabilities before entering the channel. From our experience, the relationship you build with the analysts as you scale allows the analyst to be more invested in your company long-term. As experts in their coverage area, analysts are able to provide insight into what the market is looking for, which can help inform your product development strategy. This is the basis for a mutually-beneficial relationship that our clients experience through the AR channel.
Intentional AR for All
A well-built, intentional AR program is one of the few marketing expenditures that can provide unbiased, direct feedback that allows companies of all sizes to ensure that they are providing the market with what is needed. Through the use of Spotlights’ insights-driven approach, we found that over half of our clientele received additional budget for the following fiscal year with the success it found.
If after reading this, you would like to see the results that Spotlight can bring to a new or a program in the beginning stages, reach out to connect with our team.