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Evrythng, 2014 - Cool Vendor case study


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In the run-run to its 2018 Cool and Hot Vendor Forum on October 18 in Orlando, Florida, the Gartner Observatory is developing case studies to spotlight the most impactful, innovating and intriguing firms we have spoken to, out of hundreds of Cool Vendor designation holders who have taken part in our research. In this case study, our communications director Suwen Chen outline the process for winning the designation, and what the outcomes were.

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Evrythng, 2014 - Cool Vendor case study

  1. 1. IN IDENTITY AND ACCESS MANAGEMENT, 2014 M O R E D E T A I L S O N C O O L V E N D O R F O R U M 2 0 1 8 : H T T P : / / W W W . G A R T N E R O B S E R V A T O R Y . O R G / G A R T N E R O B S E R V A T O R Y , A U E B S R E S E A R C H P R O J E C T BEING A COOL VENDOR Based in the UK, EVRYTHNG "built the industry’s leading IoT Smart Products Platform in the cloud" to make products smarter. They collect and manage real-time data, to build "connections between objects, people and applications". This process helps companies to become smarter and improves the customer's experience.  " I don't think that it was like the most important thing that happened to us", but the CV helped them to get on the radar of other research firms. ANALYST RELATIONSHIP ADVERTISING & PROMOTION Starting up any kind of business requires an infusion of capital. There are two ways to acquire capital for a business: equity financing and debt financing. COOL VENDOR  Now having customers like Coca-Cola and Unilever, it helped to build global credibility and to bring some 3rd party endorsement to them. It is also helpful to increase the team morale and attract new employees. The most important thing for the analysts to be a CV is probably that technology has to be seen as very relevant to where the analysts believe the market is going. In the background, the team has to be credible. It's a disadvantage to be based in London. " I think the analyst community regards technology coming out of the U.S. as somehow more impactful potentially than technology coming out of Europe." Department benefiting the most: marketing department EVRYTHNG has tweeted and  blogged about the CV and they also use it in their corporate credentials. "If something is too unconventional, like some of our products are, it might be too risky for some analysts to build a relationship." Analysts need to overcome established thinking models and conservativeness because when talking about IoT they most likely don't think about clothing or beer, but about a connected car or connected refrigerator. "Some analysts have a very specific point of view of the established market, which sometimes leads them to be a bit resistant and also to difficulties in conversations." Companies like Cisco and Samsung invested in EVRYTHNG in 2014, which created more credibility and interests towards the analysts. To establish relationships, they target specific analysts that they feel are commentating on the space. It is important that the analyst community is aware of new, emerging technologies. In 2014 and 2015 EVRYTHNG focused very much on building this awareness.  "When building a company like EVRYTHNG you have to focus on important audiences, where analysts belong to." Some financial analysts have approached them after winning the Cool Vendor. There is some outreach from the sales departments of organizations like Gartner or Forrester, through which they are introduced to analysts.   Industry conferences are a good place to build up new analyst relationships. Most effective approach: Big announcements, like the one EVRYTHNG made in 2016, which created a lot of interest from the media and various analysts, leading to in-depth interviews. Analysts relationship maintenance is an ongoing part of their PR strategy, and they have an ongoing communication process such as sending information and get target interviews.