How to Make the Most of Your Meetings with Industry Analysts


Luckily, landing briefings with analysts tends to be easier than
landing them with journalists (analysts conduct up to three
briefings a day). Of course, since they're in the business of
selling their time, it's far easier to get access to them if you're
a client.

"The key is getting a briefing when you're *not* a client," says Amy
Bermar, President of Corporate Ink, a tech-focused PR firm. We
talked with Bermar about how to land a briefing, how to make the
most of it, and what to expect as an outcome.

-> Why approach an analyst

The most obvious reason to develop relationships with analysts is
because they're constantly in touch with the media, and are
generally willing to provide comments if you have a reporter call
them.

But briefings are important for other reasons that companies often
don't consider. For example, most analysts:

--have access to enterprise customers and are called upon to provide
a shortlist of recommended vendors

--can provide introductions to potential partners, would-be buyers,
and targets for acquisition

--have an understanding of the marketplace, including the
competitive landscape, that can help you in shaping your positioning
and your understanding of what's going on in the market

-> Steps to landing an analyst briefing

Whether you approach the large, established research firms or
independent consultants who have come from the business and who
advise vendors and clients, Bermar says, you'll want to do your
research to see whether their clients are the types of stakeholders
you wish to reach.

Once you've done that, follow these steps to obtain a briefing:

o Step 1. Fill out an online briefing request (if available)
Many firms have online briefing request forms which are routed to
the analyst most likely to be interested in your offer.

Make yourself sound as compelling as you would for a reporter: let
the analyst know who you are, how you're moving the market forward,
and why they can't afford not to know about you.

For example, you might say: The CEO of X Company will be in town in
two weeks and would like to talk to you about a new strategy and
product roll-out, and how it ties in to the three most significant
trends in the market.

Then you would name those trends. You might add that the CEO would
also like to talk about future plans and go-to-market strategy.

Don't ignore a firm's online briefing request form and try to
circumvent the process by going directly to a specific analyst. The
forms generally help track requests and route them to the correct
analyst, and will expedite the process.

However, if you know which analyst at the firm that you'd like to
meet with, "You can do the backdoor approach as well," Bermar says,
by sending an email letting him or her know that your request form
is coming.

Send your request two to three weeks prior to the date that you're
requesting the briefing.

o Step 2. Approach the specific analyst

If the firm doesn't have a central briefing site, then you need to
track down the specific analyst who covers your topic, and send a
personal email, including the same information you would as if you
were filling out a form.

o Step 3. Follow up

You can expect to hear back from a firm within a week or two. "This
is more systematic" than pitching a journalist, says Bermar. "They
generally get back to you."

However, if they don't, you can follow up with an email or a quick
phone call.

-> Preparing for the briefing

Create a short PowerPoint presentation that addresses:

--your company's market position
--product roll-out plans
--unique benefits and capabilities
--competitive position
--go-to-market strategy
--any available case studies

This should not be more than 20-slides; and shorter is preferable
because every slide has a better chance of being looked at and
remembered. One slide *not* to include: what analysts say about the
industry.

Send it to the analyst a few days before the meeting so they have a
chance to look it over.

Then, become intimately familiar with your presentation so that you
can present it *without* looking at the slides, because during the
briefing, the analyst probably doesn't want to sit and watch the
presentation. Yes, you should have it on hand, but ideally you'll
know exactly what you're going to say and how you're going to say
it, and can talk with the analyst as though you're having a
conversation.

What the analyst does want to see is a working demo of your product,
if possible (screenshots, if a demo is not available, are okay,
too).

-> What to expect at the briefing

Briefings generally last an hour, and you should be prepared to
start on time and to end on time, Bermar says. This does not mean
your presentation lasts an hour - but your time with the analyst
does.

To make the most of your hour, keep plenty of time for conversation,
demos, and advice.

The meeting may take place on the phone, with a bridge line
connecting you to multiple analysts, or you might be meeting
face-to-face in an analyst's home office.

Phone briefings are the more difficult, especially if you're on with
a number of analysts who may not even know each other. "It's a
disconnect, and a difficult situation," Bermar says.

The best way to handle it is to realize that each analyst has
different interests. "Some will be more conversant with your market,
and you need to be able to play that as you would in any general
business meeting," she explains. Listen closely to discover which
analyst has the most interest in your market and make that person
your main point of contact for follow up.

Four things to remember:

1. Some of your competitors are likely to be clients of the firm
Bear in mind, particularly if you're in a competitive field, that
the analysts likely know more about your competition than you do.

2. The analysts will be selling to you, too

Because firms are always interested in getting new clients, there
will be selling happening on both sides of the table. Don't try to
put a stop to it, Bermar recommends. "That's part of the deal."
However, it doesn't mean you have to actually become a client.

3. Ask for feedback

Analysts are sources of a great deal of information. "It's a
valuable opportunity," Bermar says. "You should have at least three
questions in mind that you want to get from them."

These might include questions about your product, market, or
strategy, Bermar says. "Or maybe there's a rumor you want to see if
they can confirm." It's a great opportunity to test your message and
see how it resonates.

However, remember that they're selling their services, so while
they'll give you some feedback, they won't give you a lot.

4. Re-cap before you leave

At the end of the briefing, go over any action items you might have
talked about (maybe you need to provide more stats, a demo copy of
the software, a report you mentioned that they might find
interesting).

Ask if they'd be willing to provide comments to reporters, and
whether they think they might include your company in a report or a
list of vendors.

-> Maintain the relationship

The best outcome is when the analyst writes about your company in a
report.

But even if that doesn't happen, you've begun an ongoing
relationship -- so nurture it. "The really important point is that
the analyst relationship is the same as any other outreach program,"
Bermar says.

Ask the analyst if they're willing to hear from you on a regular
basis. Then, keep them personally informed on any news as it occurs,
and offer to do occasional phone briefings.

"You don't want to do that with everybody," Bermar says. "Pick two
or three that you want to have a relationship with," and focus on
them.