In all the buzz about 21st century social media like Twitter and blogs there is this 19th century warhorse that is the analyst firms’ secret weapon – the telephone.
Yes, the lowly telephone.
A common conversation SageCircle has with vendor executives is their opinion that analyst research is commoditized because so much information is available for free on the Web and in blogs, thus analyst influence must be dropping. It quickly turns out that the executive is almost always referring to the analysts’ published research. Our point in this post is that written research has always been commoditized and thus the written word is not what sells analyst services. What clients really buy is spoken advice – personalized and delivered real time – that cannot be commoditized, digitized, and distributed around the Internet.
Many members of the vendor community do not have a visceral feel for the client value delivered by these ad hoc phone-based inquiries between analysts and end users because they have never participated in one. Often vendor executives approve spending for analyst contracts because they think it is all part of a pay-to-play payola scheme. Because of this attitude they never bother to actually use the inquiry services they buy.
However, the typical end user client of an advisory firm does not have this negative bias about analyst firms. For the enterprise IT manager, the advisory analyst is a trusted, objective advisor. In many cases, the analyst can actually save the client many times the analyst contract cost by providing timely insights – via a short phone inquiry – about a vendor contract the IT manager is (more…)