If you have an analyst relations program (most B2B SaaS companies do), are you already doing influencer marketing?
At a glance, there are similarities, but there are also Big differences.
Therefore, No, it’s not the same thing.
This article will make it clear what analyst relations is and why it’s not the same as influencer marketing.
You’ll also learn about B2B influencers and why they offer you a powerful opportunity to break out and get noticed by your buyers.
Keep reading.
Who are Industry Analysts and What Do They Do?
Let’s define what an industry analyst is first.
To keep it simple, I’ve chosen to use the IIAR definition:
An information and communications technology (ICT) industry analyst is a person, working individually or within a firm, whose business model incorporates creating and publishing research about, and advising on how, why and where ICT-related products and services can be procured, deployed and used.
There are hundreds of such analyst firms in existence.
Some of the well-known firms include Gartner, The Yankee Group (451 Research), IDC, Forrester, and Aberdeen Research for starters.
What services do they provide?
It varies by firm, but in general, they provide syndicated market research, client-sponsored research, competitive intelligence, and management consulting services.
This last part is key and I get into that next.
Are Industry Analysts Influential?
Yes, because they not only provide high-value, research-based content, but they also serve a management decision support role for corporations, public service organizations as well as for the regulators, vendors, and investors who serve those industries.
Therefore, some in the C-Suite roles use analysts as advisors to help them decide which products to buy.
Analyst firms play a significant role in the buyer journey.
Analysts Help You Go a Mile Deep, but Not Wide
When you hire an analyst firm, it is typical that you work with one or two analysts on any given subject, doing a deep dive into your market niche, strategy, numbers, and data.
It is about going into depth.
Analyst Relations is Its Own Marketing Function
Analyst firms play a particular role in the B2B ecosystem.
Because their information requirements can be extensive and they often operate according to different timelines, it requires dedicated resources.
As a result, working with analyst firms has become a discipline of its own: Analyst Relations (AR).
Therefore, many B2B companies have an analyst relations person or team to service the analyst firms they hire.
The number of firms hired depends on the needs, size, and budget of the hiring company.
Pay-for-Play is the Rule
Analyst firms can be very expensive to work with (depending on which one) and are not overly flexible in what they will do for you unless you pay them to do so.
There is nothing wrong with this as they provide well-defined services.
Understand it’s a pay-for-play model and can get quite pricey if you want to get included in more research reports, get access to more analysts, and secure their attendance at conferences and events.
Therefore, working with analyst firms has constraints, financially and otherwise.
What Do Influencers Offer that Analyst Firms Don’t?
I’ve spent a good chunk of time discussing analyst firms so you can understand who they are and how they operate.
Now let’s look at how B2B influencers are different and some benefits they can provide.
(Please read my article on B2B influencers for more background).
Some of the many benefits you get by working with influencers include:
- Some B2B influencers are independent analysts with many years of *direct* experience and do advisory work of their own.
- Are less expensive and more creative in the kind of content they create.
- Depending on the influencer, some will create earned content for you.
- Many have large audiences and can get you greater exposure on social media faster.
- Content creation comes in many forms including radio, blog posts, articles, webinars, podcasts, and video – giving you more avenues to reach your buyers.
- Some B2B influencers have great press connections and are willing to help you get more media opportunities (many are contributors to Forbes and other publications).
- Most want to develop long-lasting relationships with companies that open other doors to other opportunities.
Wrapping Up
Industry analysts are valuable to work with and can help your company in many ways, but if you are working with them, you’re not doing influencer marketing, you’re doing analyst relations.
And as you can now see, it’s a discipline unto itself.
Look to B2B influencers to supplement and extend your analyst work by filling needs that analysts alone cannot provide.
Need help?
We can help your company select the right mix of influencers, build a strategy and create a campaign the impacts your ICPs.
