Maintaining a strong relationship with industry analysts is crucial to successful PR campaigns.
Read that again.
Yet businesses often overlook analyst relations (AR) when investing in building their brand.
However, incorporating AR into PR efforts grants companies the opportunity to build credibility, enhance market intelligence, obtain strategic guidance and improve overall positioning.
At Bospar, we firmly believe analyst relations should be part of any PR program.
Let’s explore how AR contributes to the overall success of your business.
Creates a climate of trust
Building credibility for any business is imperative to maintain a climate of trust with its target audience. Analyst firms provide companies the opportunity to benefit from access to these industry experts, leveraging their unbiased analysis of market trends and business strategies. Maintaining a steady cadence of engagement with key analyst firms and experts allows companies to form relationships that ultimately gain industry recognition through market reports, case studies, webinars, press releases and media interviews. Having the validation of a third-party further establishes credibility and can help boost acknowledgment and brand awareness.
Boosts market insight
Analysts deeply understand the state of the industry – from trends and emerging technologies to competitive landscapes and what to expect in the future. Maintaining relationships with key experts gives businesses access to market intelligence that can be leveraged to enhance product development, marketing initiatives and overall strategic decision-making. Using this access and insight enables companies to position their own experts as thought leaders and market specialists, gaining awareness within their space and among potential customers and investors.
Engaging with analysts provides businesses with strategic guidance that’s helpful in product development and market positioning. Enterprises can gain insight into what works and doesn’t work for their business by seeking feedback and validation and refining go-to-market approaches and target demographics. Securing analyst validation further solidifies a company’s commitment to growth and development and overall strengthens public relations programs.
Improves positioning and competitive advantage
Analysts have immediate insight into market trends and industry developments and can help enterprises identify proper company positioning among the direct competition. Connecting with key industry analyst firms allows businesses to converse with experts about product offerings and gain insight into how these solutions are positioned in the marketplace. A structured cadence of engagement with trusted analysts proves successful for companies to be regularly included in analyst reports and leverage the industry recognition public relations efforts that showcase the company’s differentiated positioning and competitive advantage.
Elevates thought leadership
Leveraging the credibility of industry analysts can elevate thought leadership and media relations efforts for enterprises. Analysts are the experts and oftentimes have strong relationships with the media, acting as valuable resources. The more companies connect with analyst firms and work together on producing valuable content, the more opportunities for media to pay attention immediately increase. Additionally, the partnership provides media with a credible source and helps impact the overall messaging and positioning of the company, further solidifying the company as an authoritative voice in the industry.
Analyst relations should be a core component of any PR program. Maintaining a strong presence with key industry analyst firms and regularly leveraging those relationships help amplify brand awareness and presence in addition to PR efforts. The combination of AR with traditional PR initiatives further establishes enterprises as industry leaders and experts, leading to long-term success.