New Breed of Analysts

The landscape has drastically changed for analyst relations over the past few years. When I first started PR, there were just a handful of analyst firms with a few independent firms. In the end, you knew if you had briefings with Yankee Group, Gartner, Forrester, Jupiter and Meta Group, you had your bases covered. And for the company seeking to launch with a bang, Chris Shipley and the DEMO conference was the standard.

Now, there are more niche analyst groups and consulting firms that wield influence on a variety of topics. And the responsibility for managing AR no longer sits with PR or marketers, it’s extended to product management & marketing as well as all levels of the executive team.

But all is not gloom and doom. With the growth of niche influencers, there has been increased openness in research availability and knowledge. I also see this new breed of analysts having the potential to change how things have been done to date.

Quicker to Identify, Evaluate and Research New Technology Segments

With larger analyst firms, research areas are clearly defined to address the majority of incoming customer inquiries. Unless a nascent technology emerges as a definable trend, such as with increased customer interest, a traditional analyst firm may not formally delve further into that space. This is where a smaller analyst firm or consultancy has an advantage to identify, evaluate and research a new technology segment.

Open Garden Approach to Research and Thought Leadership

In addition to consulting clients, analyst firms charge hundreds and thousands of dollars to non-customers for research reports. To me, this is similar to the “walled garden” approach during the early days of the Internet when “membership” provided you access to valuable content.

For the most part, this metaphor is being replaced by free content which has challenged many industries, especially in publishing. While I don’t believe this will impact the revenue model for analyst firms, I do find it interesting that some firms – specifically The Altimeter Group* and ThinkBalm – allow individuals to access their reports free of charge.

Embrace of Social Media

This leads into the final area of change for analyst firms. The increased use of social media, such as blogs, twitter and event virtual worlds (for example ThinkBalm’s The Distillery in Second Life), further increases these analysts’ awareness in the market place. And for the savvy marketer and PR practitioner, new avenues to engage with these analysts not previously possible.

Conclusion

A new breed of analyst is emerging. They tend to have an “open garden” approach that engages people in conversations. And without a larger organizational structure, they have more freedom to explore different technology segments – both established and emerging.

The challenge for folks like you and me is determine which of these new analysts have the insight and business acumen to emerge as industry influencers. Engage the right ones and you’ll have an opportunity to shape the conversations around your industry.

For those of you overseeing analyst relations, do you agree or disagree?

* Read Jeremiah Owyang’s blog posting about the Altimeter Group Approach (two-thirds down the page).

Virtual Events – New Opportunity for Public Relations

Note: This has been cross-posted on my company’s blog. Furthermore, my company offers virtual events solutions.

Over the past year, virtual events (e.g. virtual conference, virtual tradeshow, etc.) have gained in popularity due to the economic recession and budget restrictions. As more conferences consider a virtual companion to a physical conference or even going virtual all together, this represents a new arena for public relations professionals:

• No longer can you stand outside the press room and grab journalists for an impromptu interview
• You don’t have to walk or run a mile to get from one meeting to another with your client close behind
• What? – no late night cocktails with the reporter listening to a band from the 80’s?

How Public Relations Can Take Advantage of a Virtual Event

All kidding aside, I think this is something that will become more commonplace. Here are my recommendations the next time your client attends an event with a virtual component:

•  Staff the Booth: In a virtual world, there are no limitations on the number of booth staff. Your team can now staff a virtual booth alongside your customer. You will get to read what customers and prospects are seeking, which will make you more informed about your customer’s business. When a media or analyst comes to the booth, you would be the go-to person.
• Include Media-Ready Content in the Booth: Depending on the virtual event, the client will have 3-5 tabs for content. Recommend that one tab includes information that would be valuable to press and analysts, such as fact sheets, company backgrounder, link to the corporate blog, link to your online newsroom, and other resources.
• Participate in the Networking Lounge and Auditorium Chats: Most of the participants are in these two locations. Participate in these discussions as reporters may be asking questions of attendees, seeking resources, or participating in a subject-matter discussion. If the topic discusses your company or product, consider inviting the reporter to a private chat or to come by the booth to learn more. As everything, just make sure to be relevant to the reporter.  
• Hold a “Virtual Press Conference” in Your Booth: Like a physical event, you can schedule time to have a “virtual press conference” for an announcement and Q&A with your executives. The benefit is that you can potentially drive more participants as there are not travel requirements. The Q&A would take place via the group chat, recognizing that this is visible to everyone.  And remember, this takes the same amount of preparation as a normal press conference!
• Invite Press/Analyst to the Virtual Event: Virtual conference and tradeshows are fairly uncommon. If this is one of the first events in your industry, then press and analysts may be curious to learn more. Take this opportunity to invite them to the virtual event and discuss why your company is participating in the virtual trade show. Just be aware that registration is required to attend. Since most of this is free, consider setting up email aliases, e.g. reportername@yourcompany.com, to manage reminders directly with the reporter. Otherwise, have the reporter sign up directly.

Conclusions

In the end, a virtual conference or trade show represents an opportunity for public relations. I’ve heard of a few instances where press and analysts have been invited to invitation-only events online, I do anticipate this to increase as larger, more public conferences consider virtual components. When this happens, will you be prepared?