Done right, analyst relations can significantly advance your cybersecurity marketing goals. However, too often the strategy consists only of booking a few briefings (all too often) after company news goes live, which isn’t enough to build strategic relationships or gain influence.
To truly gain mindshare, you need a well-rounded program. This isn’t just about getting your name out there. It’s about building meaningful relationships to shape market perception, acquire market intelligence, enhance credibility and advance go-to-market goals.
A successful program requires careful evaluation and ongoing engagement. Here are three tips for building a successful strategy:
Conduct a Comprehensive Landscape Analysis
Start by looking at your company’s and your competitors’ current analyst engagement programs. This analysis creates the foundation for a focused engagement strategy.
This analysis should begin with a structured evaluation of each analyst currently engaged by your company. Also include other analysts that may be helpful to your program, especially if a competitor is engaging with that firm. Build a set of criteria that will support your business goals (e.g. building a volume of sales engagement materials for growth, introductions to important potential partners, and / or defining the next product feature set).
- Audience reach (subscriber count and composition)
- Deliverables offered
- Pricing structure
- Current relationships with competitors
- Buyer confidence in the firm’s research
For existing relationships, also rate the ease of interaction and measure the impact of prior activities based on quantifiable results. For example:
- Was one of their reports used in a campaign? if yes, what was the open rate?).
- If you featured an analyst on your webinars, what happened to the registration rates compared to those when you don’t have that analyst?
- Was the distribution price you paid for the downloadable report on your website worth it? How many downloads resulted in an SQL?
- Are you seeing spikes in link click through rates (CTRs) from your social media program based on mentions of a report, or a webinar involving the analyst?
A thorough analysis will ensure your budget has an impactful ROI, and you are prioritizing the right analysts that drive measurable results.
Run a Pilot Program with A/B Testing
After your initial evaluation, run a strategic pilot program incorporating A/B testing to validate engagement effectiveness and optimize resource allocation. This approach allows for data-driven decision-making and ensures maximum ROI for your program.
Propose small-scope projects, such as case study development, video interviews, social media content promotion, or blog content creation, in which you can measure value from each, both qualitatively and quantitatively. This parallel engagement allows for direct performance comparisons and the evaluation of deliverables based on lead generation, ease of collaboration, pricing, and prospect engagement.
Success metrics for projects include cost-effectiveness, distribution audience and reach, usability of assets by the demand generation team, CTR on social posts promoting the analyst’s involvement and ease of doing business with the analyst group or individual.
Tier Your Relationships
Based on the scoring criteria and A/B testing, identify a tier for each potential analyst. This will define the briefing cadence and investment plan to ensure resources focus on the most promising opportunities.
Each analyst should fall into one of three tiers:
- Tier 1 (Advocates): This top tier will include 2-3 key analysts who deliver the highest return on investment. This group proactively offers valuable opportunities and recommendations to partners and/or prospects. Dedicate 70% of your time to this group, giving them the most frequent and in-depth engagement.
- Tier 2 (Allies): This tier will include 3-4 analysts. These are analysts who can deliver demand-generation results and awareness lift and will receive quarterly engagement. Dedicate 20% of your time to this group.
- Tier 3 (Friendlies): These are the analysts who are not yet driving external value with sales. Engage with them occasionally, typically twice a year. This ensures your company stays visible in general reports, social graphics, blogs, or consultations with reporters working on round-up articles. Dedicate only 10% of your time to this group.
Once the evaluation is complete, you will know which analysts should be part of your strategy that aligns investments and activities with specific goals that support your business objectives (e.g., lead generation, establishing credibility for your technology approach, or attracting new prospects). You should track goals for each analyst firm quarterly.
Looking for a cybersecurity marketing agency that understands how to position your company with leading analysts?
Contact 10Fold to learn how we can build an analyst program that amplifies your story.