In this modern world it is of the utmost importance that businesses, consumers and the media have a full understanding of technology. That is why there are industry analysts, people or companies who research or gather data on the industry to be able to identify trends, categorize technologies, assess the size of markets and make forecasts. This shows that analysts keep a close eye on their markets and as a result of which are looked upon as leaders. B2B companies therefore like to build close relationships with analysts, showcase their technologies and hope to get endorsement. Many analysts specialize and decide to focus on a few technologies, segments or verticals like virtualization or government technologies. There are also those analysts who become dedicated to large corporations such as Apple, IBM or Cisco.
What are analyst relations?
In analyst relations corporations communicate with ICT industry analysts. This is why most firms are eager to brief analysts about their products, services and corporate strategies in order to build up ongoing relationships.
Why should we engage in analyst relations?
It is important to gain traction in the market which is why tech companies prefer to develop closer ties with analysts. Having analysts as advisors can help companies to gain access to industry information for the good of their own business.
How do analysts make their money?
Analysts make money by selling their research and insight. They also get money when they are commissioned by companies to draft reports, consult or speak at events.
Which analysts should a UK tech firm be talking to?
Major players in the UK analyst market include Gartner, Forrester and IDC. However, there are a number of smaller organisations, such as Quocirca and Freeform Dynamics and many independents or freelancers who spend their time networking, speaking, researching technologies and writing – check out this list of UK analysts.
What do analysts want from tech firms?
Analysts want the possibility to consult and to research new technologies. They like to get information from companies about their technologies, their position in the market and how they plan on building their business.
How do tech companies know which analysts to target?
Tech companies have to do research of their own to get to know which analysts are interested in their sector because these analysts will already have knowledge about their technology and will most likely have already done research in the field. This will therefore be knowledgeable about the company’s business and will be able to advise them.
Heather Baker is founder and CEO of London B2B PR agency TopLine Communications.
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