Last updated on Aug 22, 2024

How do you manage and maintain your analyst relations database and contacts?

Analyst relations (AR) is a strategic function that helps you communicate your value proposition, market differentiation, and competitive advantages to influential industry analysts who cover your sector. A key aspect of AR is managing and maintaining your analyst relations database and contacts, which can help you build trust, credibility, and awareness with the analysts and their clients. In this article, we will share some tips on how to do this effectively and efficiently.

1 Choose a suitable tool

Choosing a tool or platform to store, organize, and update your analyst relations database and contacts is the first step. Options include CRM systems, spreadsheets, or specialized AR software. This tool should enable you to track and segment your analyst list by criteria such as firm, coverage area, tier, region, and relationship status. Additionally, it should allow you to record and monitor your interactions and activities with the analysts, such as briefings, inquiries, reports, events, and feedback. Furthermore, you can set and measure your goals and objectives for each analyst in order to track progress and outcomes. Finally, the tool should generate reports and insights on your AR performance and impact.

Add your perspective

Ludovic Leforestier

We help B2B tech vendors to get and stay on the radar of industry analysts (inc on the Gartner Magic Quadrant). Co-founder of the IIAR>, IBM, Oracle, Criteo alumni #ARchat, IIAR> Certified Professional.
Report contribution
We use Architect -not perfect but way better than spreadsheets. If you use spreadsheet you miss out so much on the coverage and activity reporting aspects.

Like
Terezia Batovska

Leading Analyst Relations @ Shopware
Report contribution
If you have the budget for it, consider using specialized AR CRM platforms like ARchitect from ARInsights or Oz from Spotlight. These platforms are specifically built for AR teams. However, if you're working with a limited budget, there are alternative options worth exploring. Before using Oz, I built my analyst CRM in Airtable, a versatile tool that allows for customization and offers numerous automation capabilities. Additionally, you can also leverage project management tools like Monday.com, ClickUp, and Asana to meet your needs.

Like
Nadya Vicheva

Analyst Relations Manager at Avaloq
Report contribution
Choosing a suitable tool heavily depends on whether the Analyst Relations expert is hired through an agency/freelance or works in-house. Agencies tend to favour online CRM software like ARchitect, whereas working in-house may offer the flexibility of using the already established internal CRM system. Both have their pros and cons; it's important to weigh out your options based on the organisation needs and your workspace scenario.

Like

2 Update your data regularly

To make sure your data is accurate, complete, and consistent, you need to update it regularly. Analysts can switch roles, firms, or focus areas frequently, so you must stay on top of these changes and update your database and contacts accordingly. You can utilize a variety of sources to keep your data up-to-date, such as analyst websites, blogs, social media, newsletters, webinars, industry events and conferences, direct communication with the analysts via email or phone, and feedback from your internal stakeholders.

Add your perspective

Rajneeta Das

Analyst Relations/Advisory Relations/ Public Relations/ Lead Generation - Corporate Marketing
Report contribution
I don't treat my analyst database like a dusty rolodex. It's a dynamic network fueled by smart tools, constant updates, and genuine engagement. I segment contacts based on relevance and tailor outreach accordingly. Building trust through industry insights, feedback, and event participation is key. By measuring engagement and continually optimizing, I ensure my analyst network is a vibrant, value-generating asset, not a stagnant list.

Like
Nadya Vicheva

Analyst Relations Manager at Avaloq
Report contribution
Life hack: having "notifications on" for new posts from your key target analysts on LinkedIn is a pretty neat way to stay up to date with little effort. It will prompt you to engage with them, where sometimes you may just miss an important update if you solely rely on scrolling the webs.

Like

3 Engage with your contacts

The third step is to engage with your contacts and build rapport and trust with them. You can do this by providing relevant and timely information about your value proposition, market positioning, and competitive advantages. Additionally, it's important to solicit and act on their feedback and recommendations on your products, services, strategies, and messaging. Inviting them to participate in events, webinars, demos, case studies, or reference programs is also beneficial. Lastly, recognizing and appreciating their contributions and achievements, such as mentions, ratings, awards, or publications can help build strong relationships.

Add your perspective

Ankit S.

Analyst Relations | Market Research (IT) | Corporate Communications | Event Marketing
Report contribution
One needs to make sure to maintain the proximity with the analyst fraternity by providing relevant information to them, and by asking for their feedback and recommendations. A healthy cadence ensures healthy relationship. Inviting an analyst to share his expert opinions by having them as speakers in events, or by collaborating with them for the case studies/whitepapers definitely helps the audiences get answers to their "whys and whats". This can make your events, webinars; podcasts “not to be missed” events. Being appreciative by showing support to their research works; expressing socially about how helpful their reports are, is a good way to thank the analysts. This builds trust in the engagement, and creates a sense of mutual respect.

Like

4 Segment and prioritize your contacts

The fourth step is to segment and prioritize your contacts based on their level of influence, relevance, and interest in your sector and offerings. You should focus on developing strong and long-term relationships with the top analysts who have the most impact on your target market, customers, and prospects. They should be provided with regular and customized briefings, inquiries, and updates. You should also keep secondary analysts informed and engaged with occasional briefings, inquiries, and updates. Lastly, you should monitor tertiary analysts who have little or no influence on your market but may have some interest in your sector or offerings. Reach out to them when there is a relevant opportunity or news.

Add your perspective

5 Measure and improve your results

The fifth step is to measure and improve your results and outcomes from your AR activities and interactions. You can use various metrics and indicators to evaluate your AR performance and impact, such as analyst awareness, perception, advocacy, and influence. This will help you manage and maintain your analyst relations database and contacts effectively and efficiently, allowing you to leverage them to reach your business goals.

Add your perspective