working with-industry-analysts
DESCRIPTION
This is a talk I originally prepared for the Alchemist Series (www.alchemistseries.com) about working with industry analysts. I'd appreciate any other tips and suggestions from analysts, as well as feedback from entrepreneurs. Cheers!TRANSCRIPT
1
June 1, 2012
Susan Etlinger Industry Analyst
Working with Industry Analysts Eight Tips for Entrepreneurs
© 2012 Altimeter Group
2
Altimeter Group provides research and advisory for business leaders challenged by disruptive trends, to enable them to pursue
new opportunities and business models.
Who are we?
© 2012 Altimeter Group
3
What we’re thinking and writing about in 2012
• Dynamic Customer Journey • Adaptive Organization • Sentient World
For more about how we are thinking and writing about these trends, please visit: http://www.altimetergroup.com/research/research-themes
© 2012 Altimeter Group
Who am I? 4
10 years in house in Corp Comm, marketing, IT 10 years agency: startups to Fortune 500
counseling entrepreneurs and execs Today: Industry analyst covering social analytics,
voice of the customer, “big data” Receive approx 50 briefing requests per month (I
can do 5-10; more when working on a report) Been on both sides of the fence; analyst relations
and analyst
© 2012 Altimeter Group
5
Your Task Think about the two sentences you want the analyst to walk away with.
What should they be? [Hint: mine are on the next page]
© 2012 Altimeter Group
6
My two sentences Build a relationship for the long term.
Here’s how.
© 2012 Altimeter Group
7
Eight tips for working with analysts
© 2012 Altimeter Group
8
1. Understand analysts’ motivation
© 2012 Altimeter Group
Know what makes them tick 9
Looking smart Access Ideas for research Identifying trends Building influence & reputation Staying valuable, relevant and sought-after
© 2012 Altimeter Group
10
2. Understand the business model
© 2012 Altimeter Group
How do industry analysts make money? 11
Research reports, Advisory services, Projects, Speaking engagements, Other
What are you buying? Access to the research? The analyst? Their customer base?
We don’t all work the same way: Paid research versus open research
Established business models are under threat We are not the same as equity analysts
© 2012 Altimeter Group
12
3. Understand the service offering
© 2012 Altimeter Group
The infamous question of “pay to play” 13
Never pay to brief an analyst Are you being asked to pay or buy services to be
included in reports? This is why understanding the model is so
important; what is part of the research process vs what is part of the service offering
Models are different, so transparency is key
© 2012 Altimeter Group
14
4. Before: do your homework
© 2012 Altimeter Group
How to prepare 15
Know what analysts cover and what they’ve written on Look at how they’re organized: industry, horizontal
coverage area, practice area
Know the frameworks and potential implications to your business
Find out their revenue mix; percentage from vendors versus brands
Find out rules of engagement; what is fair game, what is embargoed. Unless you have a paid relationship, many analysts will not sign an NDA for a briefing.
© 2012 Altimeter Group
16
5. During: don’t “pitch” us
© 2012 Altimeter Group
In the meeting… 17
Confirm rules of engagement Have an agenda Don’t waste time on logo slides and background;
get to the point fast We see dozens of companies per month; why are
you special? Don’t condescend, don’t sell. Be nice. Be
prepared. Be real. Be curious. Don’t offer gifts of any value; we can’t accept
them Ask questions. Listen. Ask more questions.
© 2012 Altimeter Group
* No actual babies were deemed ugly for the purpose of this presentation.
18
6. If we say your baby is ugly…
© 2012 Altimeter Group
Criticism in context 19
It’s not personal Don’t be defensive, but do ask for supporting
evidence Don’t walk away or write them off; stay engaged Maintain a balance of advocates and detractors;
detractors keep you honest Remember: the analyst’s focus is pattern
recognition
© 2012 Altimeter Group
20
7. Working with analysts
© 2012 Altimeter Group
How to work with analysts 21
Press references Speeches, webinars (influence) Advisory
• Positioning • Message review • Roadmap • End user insight
Always keep the next briefing in mind
© 2012 Altimeter Group
22
7. After: the long view
© 2012 Altimeter Group
Thinking for the long term
* Actual mileage may vary
23
If you’re in an emerging or disruptive market, don’t rely only on analysts who work within established categories.
Seek out the analysts who “get” you. This does not mean they always think you are amazing. That is your family’s job.
Build trust. The goal is to get to the point where we’ll take a briefing no matter what, and we know each other so well we can do it in 20 minutes
© 2012 Altimeter Group"
24"
Susan Etlinger [email protected]
susanetlinger.com
Twitter: setlinger
THANK YOU