Marketing managers at startups and intrapreneurs (functions like an entrepreneur but within large companies) often get frustrated because their requests to brief an analyst are often turned down. They then start thinking it’s because they don’t have a contract with the firm (see Should tech startups invest in analyst relations?). Alas, the problem of getting a briefing accepted is not as easy as writing a check for some analyst services.
When startups have trouble getting analysts’ attention, or their requests to meet for a briefing are turned down, it is usually because the company’s team members:
- Do not understand the analysts’ business models and research methodologies
- Problem: They do not know how to pick analysts that have a predisposition to listening to startups versus those primarily interested in larger, well-established vendors
- Have not done the necessary homework or do not know how to build a valid analyst list
- Have not investigated the analysts’ opinions and research on the market
- Problem: They are not presenting their products/services in a way that fits into a particular analyst’s worldview and recent research
- Have not investigated the analysts’ calendars to determine whether the proposed briefing date is realistic
- Problem: The vendor may be suggesting a time period when analysts have established commitments (e.g. such as a major analyst conference or industry event)
- Do not provide the analysts with interesting data points and market insights during a briefing
- Problem: By talking about only their own company, associates miss the opportunity to give the analysts a reason to talk to them again
- Do not have a crisply differentiated message that is tuned to the particular analyst
- Problem: A “boring” message will not get the attention of a busy analyst trying to reduce the number of vendors he or she has to cover
Bottom Line: If a startup is getting turned down by the analysts, they need to investigate why this happening and not jump to the conclusion that it’s a pay-to-play issue. There might be underlying issues that require correction before trying again to get a briefing appointment.
Question: Analysts – Do you have other reasons why you would turn down a briefing request from a startup? Startups – Do you get reasonable and detailed explanations from analysts firms why your briefing requests were turned down?
How SageCircle can Help: If you need advice about how to get an analyst briefing scheduled, check out SageCircle’s two-hour and five-hour advisory paks or Annual Advisory Service. The advisory paks are easy to setup and pay for via credit card. We can help you by:
Analyzing why you are not getting briefing opportunities
Reviewing your analyst list
Critiquing your analyst elevator pitch
Suggesting tactics and providing best practices for getting that briefing
For more information, visit our website or contact us at sales [at] sagecircle dot com or 650-274-8309.
Filed under: Startups