Analyst relations. As PR pros, we’ve heard of them, struggled with knowing the right way to launch a successful program and had countless other questions.

But what does it take to truly shape a successful analyst relations program? Is it relationship building? Patience with follow up after follow up? Finding just the right email to contact?

I recently had the pleasure of chatting with Bospar account manager and AR expert Brandy Patton-Miller, who has all the answers and more!

What’s the significance of analyst relations, and what value does it bring clients?

BPM: AR is a strategic complement to PR that focuses on building/maintaining relationships with industry analysts in terms of market perceptions, valuable insights and buyer influence. The significance truly is in the ability to help shape narratives around clients’ products/services and market position. For PR clients, the value lies in third-party validation, strategic market insights and increased awareness through market reports or analyst quotes in media.

Tell me a little bit about Bospar’s capabilities when it comes to analyst relations.

BPM: A year and a half ago, one of our clients wanted to build out a separate scope for analyst relations within its public relations program at Bospar. I was eager to start the process completely from scratch, which entailed a foundation of industry research to find the right “fit” for the client (whether that was the large AR players or the niche industry leaders). Ensuring all of our research was tracked and carefully managed in a dashboard allowed our team to keep a close pulse on industry happenings and trends as well as note our progress in the analyst relationship building. 

Another major component of analyst relations is asset management. By identifying the right targets, prepping and pitching them for briefings and creating decks, our team took a cross-functional approach to forming these relationships.

Why is asset management a major component of analyst relations?

BPM: Asset management comes down to ensuring the information provided to analysts is accurate, consistent and strategically aligns with company messaging and goals. 

Here’s how I like to break it down:

• For clients:
  • The most up-to-date information (typically briefing decks) best reflects the company’s current strategy, product offerings and market position.
  • Organized and accessible assets best prep spokespersons for briefings, in turn making the briefings more efficient and productive.
• For analysts:
  • The reports they produce accurately reflect the market — inaccuracies not only impact the client but can tarnish a relationship with an analyst.
• For the AR team:
  • Asset management allows AR teams to keep track of what information is shared with each analyst (especially for clients who can speak to their products within different verticals — like tech and healthcare — and are meeting with a variety of analysts.)

What is the biggest challenge in creating a successful analyst relations program? 

BPM: Level-setting expectations, being patient and realizing that analyst relations require a foundation of relationship building to truly be fruitful long term. Something that isn’t necessarily a challenge but is very important is knowing the right analysts to connect your clients with. Some companies want to speak to the wider industry experts. Others want to connect with niche analysts who can understand the value of their product from direct experience. 

How do you nurture relationships with analysts? What should you say and NOT say?

BPM: Here are some of my top tips, tricks, do’s and don’ts!

• Tips and tricks:
  • Maintain regular engagement with analysts (briefings, updates, check-ins, etc.).
  • Make sure what you’re giving them provides value, like insights, data, trends and unique perspectives.
  • Transparency is key!
    • It’s better to address challenges or issues than risk credibility by withholding information.
  • It’s never too early to start an AR program!
  • Personalize interactions to the analyst’s interests and expertise whenever possible.
• Do:
  • Emphasize your company’s innovation, customer impact and market leadership.
  • Offer case studies or customer introductions.
  • Share your company vision for the future.
  • Express appreciation for the analyst’s time, insights and contributions.
• Don’t:
  • Exaggerate claims about your company or product. Analysts are intimately familiar with their industry and can see through overblown or overhyped statements.
  • Make any claims you can’t back up with evidence.
  • Speak negatively about competitors as a means of differentiating your company.
  • Dismiss the analyst’s insights or opinions, even if it is critical feedback or challenges your company’s viewpoint.
    • Instead, take this as an opportunity to engage in a constructive dialogue.

Why is having strong analyst relations so important to public relations success?

BPM: Analyst relations and public relations truly feed back into each other. On the PR side, third-party validation from a credible industry analyst solidifies that your news has meaning and weight from a wider industry scope. The market and potential buyers see this validation as an added layer of reliability. 

Similarly, on the AR side, forming relationships with analysts is a great way to stay informed and educated on industry trends and happenings, as well as keeping a pulse on how competitors are operating within a given market. This allows us to gain an introspective view of what stories are landing versus what may simply be a short-term industry trend. 

Are there any other tips and tricks you have for PR pros looking to launch an analyst relations program? Anything to avoid?

BPM: Analysts love to connect with companies who have something new and interesting entering the market. At its core, building a successful program is truly about nurturing these relationships, so having the patience to know an initial email back and forth may not immediately result in a briefing is okay! It’s all part of the process. 

Being detail-oriented is also critical when reaching out to a new analyst. Ensuring you’re well read on their coverage scope means you’re well prepared to land a briefing!

While there’s no one “right” way to quickly land an analyst briefing, it often comes down to nurturing these relationships, having the patience to remain persistent in your AR comms and, of course, keeping your eye on the long game!