Six Key Strategies for Effective Communication

• Transparency is key: Sugarcoating the situation only breeds distrust. Be upfront about the placement and acknowledge the areas where your company fell short. Explain the methodology behind the report and the specific criteria used for evaluation. This transparency builds trust and is the first step toward addressing the feedback.
• Focus on the “why”: Don’t just present the placement; analyze the “why” behind it. Dive into the analyst’s specific cautions and investigate these as opportunities for the company to improve. Truth is, analysts serve as a proxy to the market. If analysts perceive something as a gap, it’s likely your prospects and/or customers have the same perception. This deeper understanding of the “why” helps you pinpoint the internal gaps and develop targeted action plans.
• Collaboration is crucial: Don’t go it alone. Share the report and your analysis with relevant stakeholders across different departments. When sharing less-than-ideal report placements, how you position this to your stakeholders is vital. While it’s critical to avoid sugarcoating the report placement, always have an angle or perspective that reinforces a lever your organization can pull with the report outcome. For example, did you score higher on one axis than a key competitor? Did the analyst praise one of your differentiators in the write-up or scoring? These slight positioning nuances can make or break your seat at the table when sharing poor report results. This fosters a collaborative environment where everyone feels invested in addressing the identified gaps.
• Turn feedback into action: Develop a clear action plan based on the analyst’s feedback. This plan should outline specific, measurable goals and initiatives to address the weaknesses identified. Set timelines, assign ownership, and track progress regularly. For example, you might have been dinged on your AI capabilities, so schedule a deep dive with your product team to dig into the AI criteria and assess what’s feasible for roadmap investments from now until the next report kickoff. Bonus if you can get a few customers to speak to the analyst about the improved capabilities in the offseason!
• Communication is continuous: Communicate the action plan and its progress to the organization. Regularly update stakeholders on the steps being taken and the tangible improvements achieved. This transparency demonstrates your commitment to addressing the concerns and keeps everyone engaged in the process.
• Remember, a setback is an opportunity: Use this as a chance to re-evaluate your strategy, identify areas for improvement, and demonstrate your organization’s resilience. By turning a less-than-ideal ranking into a catalyst for positive change, you can strengthen your company’s position in the long run.

And Don’t Forget

• Lean in: Our initial instinct might be to turn around and find a new ‘friend,’ but in this situation, we must lean in and nurture the relationship more than ever before. Host an advisory day with the analyst to seek clarification on their cited cautions and discuss potential areas for improvement. This demonstrates your willingness to learn and address their feedback directly.
• Reinforce strengths: While acknowledging areas for improvement, don’t forget to reinforce your company’s strengths as identified in the report – and new innovations that you can continue to promote! 
• Focus on the future: While acknowledging the current placement, emphasize your commitment to continuous improvement and future success. This demonstrates your organization’s forward-thinking approach and inspires confidence in your ability to bounce back.

An Opportunity For Growth

A disappointing ranking isn’t a setback, it’s a stepping stone to future growth and continuous improvement. By embracing a proactive and transparent approach, you can use this setback as a springboard for significant improvement and ultimately strengthen your organization’s position within the industry.