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Building Effective Analyst Relations
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Building Effective Analyst Relations

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How to build effective relations with ICT market industry analists as presented for the Software VOC community of Nederland ICT on May 15, 2013. ...

How to build effective relations with ICT market industry analists as presented for the Software VOC community of Nederland ICT on May 15, 2013.

Topics covered:
1. Who are the key ICT Industry Market analysts?
2. What do they do?
3. Why should you work with them?
4. When should you pay them?
5. What are the best practices for working with them?

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Building Effective Analyst Relations Presentation Transcript

  • 1. Business Growth UnleashedJeroen KleinhovenManaging Partner+31 622241190Jeroen.kleinhoven@6hours.nlnl.linkedin.com/in/kleinhovenSoftware VOC bijeenkomst:Hoe kom ik in beeld? Het softwarebedrijf en de analistMay 15, 2013
  • 2. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl1  Founder 6hours Associates  Consultancy, Interim & Hands-on Investments  Commercial productivity for Dutch b2b software companies  Focus on go-to-market strategies, business development & CXO relationships  Partner CIONET Nederland  Europe’s leading network with over 4.000 CIOs & IT Decision Makers.  CIONET Netherlands (Bloemendaal) provides an online and offline network andknowledge exchange for over local 450 members  www.cionet.com/join-cionet/  CEO Treparel  Software provider in Big Data Text Analytics and Visualization (Delft)  www.treparel.com  Gartner (‘02 – ’10)  Different roles incl. Regional VP Gartner Benelux  More information:  http://nl.linkedin.com/in/kleinhoven  jeroen.kleinhoven@6hours.nl  +31 6 22241190About Jeroen Kleinhoven
  • 3. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl2Who is influential on what?Big Data News Analysis on Top 4 firms (source: The Guardian)All articles from The Guardiannewspaper that cite:•  Gartner (575 articles)•  Forrester (307 articles)•  IDC (410)•  OVUM (142)Note: total 1.172 articles fromwhich 634 are published since2010Analysis done with KMX Analytics& Visualization software using TheGuardian API. More info on:www.treparel.com
  • 4. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl3Who is influential on what?Big Data News Analysis on Top 4 firms (source: The Guardian)Gartner Forrester
  • 5. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl4Who is influential on what?Big Data News Analysis on Top 4 firms (source: The Guardian)IDC OVUM
  • 6. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl5Let’s Agree to Disagree…For the technology vendor executive, there is no topic wrought with moremisinformation, misconception and fear than the role of the industry analyst in theirultimate success.
  • 7. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl6Agenda1.  Who are the analysts?2.  What do they do?3.  Why should you work with them?4.  When should you pay them?5.  What are the best practices for working with them?The term “analyst” is like the terms “software” or“hardware”.It works as a broad categorization, but utterlyfails to describe any of the actual capabilities orcharacteristics of the firms in that category.”
  • 8. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl7The IT Buying EcosystemReferences /Use casesVision, Products,Use CasesReferences / BusinessWhat should wecommunicate?
  • 9. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl8Three Broad Types Of Influencers(excluding the press)  Consultants (Management / Strategy Consultants, Security Advisors)  Low rate of end user interaction per consultant  But for extended periods of time (days to months)  Driven by utilisation and revenue targets  End User Analysts (the minority)  Gartner, Forrester  High rate of end user interaction per analyst  But for short periods of time (30 min ATCs to 1 or 2 day engagements)  Driven by achieving status and influence in the industry, and targets for thought leadership,publishing, events, press coverage, assisting with sales  Market Analysts (the majority)  IDC, OVUM  Generally low to no end user interaction  Focused on publishing reports for service providers, investor community, procurementdepartments  Driven by achieving status and influence in the industry, and targets for thought leadership,publishing, events, press coverage, assisting with salesSenior analysts can range across more than one of the above
  • 10. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl9Analyst Firm Revenue – World WideGartnerForesterIDCOthersSource: Knowledge Capital Group April 20082011: $1.468b2011: $283m2011: $340m est.
  • 11. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl10Analyst Firm Revenue – Buy SideGartnerForesterAMROthers“Gartner owns over 75% of the buyside (IT dept) revenue in themarket place. Consequently theirinfluence and exposure isimmense”Source: Knowledge Capital Group April 2008
  • 12. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl11Segmenting Analyst Firms(=Gartner)Your FOCUSwhen Selling /Partnering toother VendorsBig 3 in 2013:1.  Gartner2.  Forrester3.  IDCSource: Knowledge Capital Group April 2008
  • 13. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl12Key Global Influencers (according to Dutch SI)
  • 14. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl13What Do Analysts Do?  The power that the major industry analysts hold over major, multi milliondollar technology deals is unique in the business world.  The Deal Makers and Breakers act as father confessors for CIOs,technology professionals and vendors.  Only 20% of the value of an industry analyst to a vendor comes fromwritten words - quotes, articles, reports or conferences  80% of the value comes from spoken words -- picking up the phones andanswering the questions of the End User community.“The most important deliverable provided by theanalysts isn’t the writing, the reports, or theconferences – it’s picking up the phone andanswering the questions of the IT user community.”The primary reason that End Users use the analysts is that theyprovide insurance against FUD: Fear, Uncertainty & Doubt(most often created by analysts to describe marketing and products of vendors…)
  • 15. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl14Why would you want to work with Analysts?  Influencing Sales  A successful analyst relationship for a vendor isn’t one where the analystsrecommend a particular technology.  But the sales where the Analyst includes them on a short list or give an honest,objective, well informed assessment.  A failing relationship is driven by the lack of information about a vendor, it’sproducts and how it solves business problems for clients.  Providing Validation and Advice  Analysts know the market and can help vendors to figure out how to sell in tothese  They can validate or invalidate your product, company, positioning, messaging,partnering models, and vision or strategy  Analysts can only give advice or at least their opinion  Advice comes in many shapes: free advice, purchasing research, consulting oranalyst workdays
  • 16. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl15Why would you want to work with Analysts?  Providing Intelligence  Information is the currency of the vendor’s relationship with the analyst: the moreinformation you give them, the more they likely to give back.  Most analysts like to be showing how much they know, and how they know.  The best competitive information that vendors can get on other vendors comesfrom analysts (caution: it’s a double-edged sword!)  Analysts have targets as well… they need to produce new research often. Theyget their information from….? End users and Vendors!A Darwin Magazine study of over 2,000 CIO’s and IT managers:  84% of CIO’s surveyed feel that the information they received from ITindustry analysts was reliable  55% said that they use this information to make technology purchasedecisions  40% said they use it to guide which vendors they purchase from  25% said they use it to choose which system integrators to work with
  • 17. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl16What Do Analysts Like?  Response to their survey and briefing requests  Quarterly updates  Products & new wins (deals)  Easy access to “the basics”  Access to “insights”  AR contact list  Upcoming events calendar  Pre-announcement briefings  Annual executive sessions - access to the “big cheeses”  Regular “push” e-mails with the news  “Behind the scenes” peeksMotivatorsHIGH:•  Influence•  Knowledge•  PowerLOW:•  Community•  Money•  ReciprocityThe ability to develop their knowledge, increasethought leadership and market influence
  • 18. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl17When to pay the analysts?  Being a client  Annual access to research  Making inquiries (additional)  Attend events  Buy a day with an Analyst  Invite analyst as presenter  Tailored / strategy consulting  Webinars, newsletters, more…  Analyst Review on your website“If you think that you can buy theinfluence of the Deal Makers andBreakers -- the ones thatinfluence revenues – you arewrong. Their influence cannot bebought.”
  • 19. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl18Next? Build an effective AR function  Target  Assess each analyst company and individual analyst’s value based on their insight in toyour products, markets, influence to YOUR target buyers, exposure and their accessibility  Start with Analyst briefings (free-of-charge)  Planning  Create the perfect pitch  Create and maintain the analyst calendar  How much to buy for analyst subscriptions (and negotiate!)  What to say and how (often) to say it  Assign one executive in your team for AR activities  Execute  Setting up and managing analyst interactions  Communicate best practices and feedback internally  Reference prospects to Analysts and visit their events…!  Measure:  What they Write, What they Think, What they Say.
  • 20. 6hours Associates BV – All Rights Reserved 2013 www.6hours.nl19AppendixInsight Experience Connection ActionMore info: www.6hours.nlContact: Jeroen Kleinhoven, Managing PartnerJeroen.kleinhoven@6hours.nl+31 6 222 411 90http://www.linkedin.com/in/kleinhoven