By Britton Manasco
Few people understand the full power and influence of industry analysts in the technology solutions marketplace. The top analyst firms - such as Gartner, Forrester Research and IDC - conduct thought-leading research and provide valuable advice to both technology sellers and buyers. Companies that hope to build credibility and drive growth in the technology marketplace need to have a strong grasp on how these key market influencers can strengthen their white paper marketing efforts.
In his new book, Influencing the Influencers: Best Practices for Building Valuable Relationships with Technology Industry Analysts, Knowledge Capital Group founder and CEO William S. Hopkins discusses the “vital interdependence” that links technology sellers, buyers and analysts. In the coming years, they will “need each other more than ever in order to capitalize on the opportunities coming down the pike” and manage the attendant risks, he contends.
Indeed, industry analysts exist because business technology is complex and fraught with risk. Prospective buyers look to the analysts for third-party guidance to help them make smart decisions and avoid making foolish ones. Considering that companies spend millions (or hundreds of millions) of dollars each year on information technology alone, it’s not surprising that they would find value in the opinions and perspectives of industry analysts. Gartner and Forrester are particularly influential among technology buyers. Since they derive a majority of their revenue from buyers instead of sellers, they are considered the most objective providers of advice in the field.
Other firms, such as IDC and Gartner’s Dataquest unit, focus on providing advice, market projections and market share numbers to technology sellers. And still other specialist firms - such as Tower Group, AMR and Ovum - have expertise in vertical markets such as financial services, manufacturing and telecommunications. Hundreds of other firms exist to address just about every niche in the business technology marketplace.
In the case of white paper marketing, you need to consider issues such as credibility with technology buyers, access to the media and domain expertise when determining how and why to draw on the capabilities of analysts. Based on your objectives, there are several approaches you can take:
- Analysts as advisors in the development of your white paper. If you have a subscription to an analyst firm’s services, you can request an “inquiry” with an analyst or hire them out for a “strategy day.” These are opportunities to gain feedback on your positioning and market story - all of which can be incorporated into your white paper(s). Many analysts will even review a white paper and provide specific guidance and advice. This is where analysts provide insight.
- Analysts as sources in the content of your white paper. Analysts are commonly used in white papers as independent, third-party sources. You can often draw analyst quotes or data points from research documents, articles in the press or public presentations. They lend credibility and weight to the case you are building - whether it is qualitative or quantitative analysis they provide.
- Analysts as authors of your white paper. In this case, analysts are paid by you to write and put their brand on white papers about your company. This is a dubious practice because it is simply impossible for an analyst firm to be both independent and write your white paper. (Gartner and Forrester, in fact, refuse to do such work.) While some vendors find that these papers (and the firms that produce them) help raise awareness, it is unclear why a company would surrender the role of thought leader to a party that is merely pretending to be unbiased.
- Analysts as audience members for your white paper. When you meet with analysts or brief them on your market initiatives, it is useful to send white papers ahead of time or leave them behind when you leave. This supports the analyst’s research process. It is one more tool to help analysts understand what you do and advise their clients - your prospects, in other words - on the value you provide.
This last point touches on the influential nature of analysts. Market research suggests analysts are second only to executive peers in terms of their influence on technology buying decisions. You should manage them with care and diligence - and keeping them well informed (through personal interactions as well as documents such as white papers and customer case studies) is critical to building an effective relationship. Remember, they are whispering into the ears of your prospective clients.
About the author: Britton Manasco develops strategic content and communications initiatives to build business credibility, generate demand and accelerate sales cycles. He can be reached at 512-415-7936 or via email at brittonmanasco@aol.com - and you can visit his thought leadership marketing blog, Elevation, at www.brittonmanasco.com.
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