Many marketers question whether or not it is worth investing in analyst relations (AR). When budgets are tight and there are so many other demands on marketing resources, it can be difficult to justify allocating money to this area. However, AR should not be overlooked – here are six reasons your company should invest in AR.
The analyst community is constantly monitoring the latest industry changes, and they are not afraid to share their thoughts on what it all means. AR gives you access to this information so that you can quickly digest it and determine how it impacts your business.
Find new opportunities.
Insights from analysts about what is going on in your industry and how customers are reacting to it can be a treasure trove of marketing information. The best analyst firms closely monitor their clients – which ones they’re meeting with, any upcoming launches or announcements, etc. – allowing them to spot instances where your company's product and/or service might be the perfect fit.
Develop relationships with customers.
Analysts are often seen as thought leaders in their field, and their opinions on products and services can carry a lot of weight with customers. If you can get your company in front of the right analyst, that analyst’s audience is likely to take notice.
Analyst relations is one way to build credibility with the analysts who cover your industry. When they see that you are proactive and responsive to their inquiries, it reflects positively on your company. In turn, this can lead to more positive coverage and increased visibility for your brand.
Form strategic partnerships.
When it comes to developing new products and services, the analyst community is often a good source of ideas that could ultimately benefit both your company and theirs (and their clients). Working together on these initiatives will allow you to get in front of this audience with news about your latest product release or service offering, opening the door to successful launches.
Stay ahead of the competition.
If you are not paying attention to what the analysts are saying about your competitors, you are at a disadvantage. AR allows you to track what the analysts are writing about and how they are rating your competitors’ products and services. This information can help you shape your marketing strategy to gain that edge.
As the digital landscape evolves, it’s important to have a solid AR strategy in place. If your company is looking to take its AR program to the next level, Spark 180 can help. We offer custom-tailored services for companies of all sizes and budgets so there are many ways we can help you move forward with your goals. Ready to make some changes? Contact our team today!