10Recognize That Analysts Don’t Create Categories, Customers Do
Had this book been written only a few decades ago, it’s likely that the entire 60,000+ word manuscript would have detailed a playbook for influencing industry analysts to recognize your new category. Ever since the rise of independent research and consulting firms in the mid-to-late 20th century, buyers at companies across major industries have looked to these organizations for research and advice on trends to pay attention to and which vendors were leading the markets behind those trends. Analysts have become such an important part of influencing market leadership and purchasing decisions that companies (especially in B2B) have built dedicated teams around an analyst relations function to ensure that their brand and value proposition were front of mind.
The Institute of Industry Analyst Relations (IIAR) defines an industry analyst as “a person, working individually or within a firm, whose business model incorporates creating and publishing research about, and advising on how, why, and where information and communications technology (ICT) related products and services can be procured, deployed, and used.”1 Typically each analyst firm will have their own set of services or offerings, but in general, the following activities are core to the business model for most:
- Retainer or Subscription-Based Advisory. Research access (typically incorporating an agenda), conference seats, and the right to speak to analysts for ...