One of the many transformations in analyst relations in recent years has been its growing integration into marketing communications. Sales and communications leaders are now looking at AR from a channel-agnostic perspective, wondering where this tool fits in arsenal of marketing.
Independent market research commission by CCgroup has found that the value of analysts differs greatly according to the individual providers’ challenge in the sales pipeline.
Looking at the telco buyer journey, for example, we can see how analyst influence intensifies and changes. The different stages of the buying process have some key hurdles: building awareness; getting into long listing and surviving into shortlisting. The research commissioned by CCgroup has shown that analyst influence deepens through the process.
Starting with awareness, CCgroup asked telco tech decision-makers which marketing channels they are familiar with have the most significant impact on their understanding of a technology vendor. Trade media was at the top of the list, with industry analysts coming within the top five. Business technology media, management consultants and industry associations made up the other places in the top five.
Analyst influence rises later in the process. Looking at the long listing, we asked, “how much influence do these channels have on the selection of technology vendors?” This question is one where you see industry analysts growing in influence. They are second on the list, just below internal business analysts. The next question was a bit more specific and asked if they had ever been led to shortlist a technology vendor for an RFP process as a direct result of an engagement with any particular marketing channels. The industry analyst was the number one answer as far as an influence.
These buyers were also asked about the types of content that many vendors created and promoted across these channels. Industry analyst reports were named head and shoulders above all the others in terms of their influence on the buying process at large.
To look at the issue overall, we asked what percentage of telco’s technology buying processes involve analysts somehow. On average, it was just slightly less than half – 47% of all decisions involve industry analysts somehow. With this sort of influence, analysts steal the show.
The same pattern is repeated in other markets. In retail technology, for example, there are many influencers and information sources that are more present than analysts. However, when it comes to shortlisting, analyst content is the most influential.
CCgroup has commissions these insight reports from independent research studying several tech buyer groups, including acquiring investors, broadcasting, capital markets, channel partners, edr cybersecurity, enterprise, fintech, media tech, and retail telecoms. To download them, visit: https://bit.ly/CCgroupInsight