Awhile back, I heard an interesting comment from a former advisory analyst who is now the director of AR at a software company. She said that when she was an analyst it was her opinion that vendors were crazy to think that analysts have a large impact on sales. However, now that she is at a vendor, she is experiencing first-hand the dramatic impact the analysts have on vendor sales opportunities.
This got me thinking that if analysts do not understand or appreciate their impact on vendor sales, do vendor executives really understand how the analysts have their fingerprints all over corporate sales opportunities? The reality is that many executives do not fully comprehend the true impact of the analysts on revenues. Thus, they are less likely to support AR by making time to meet and speak with analysts.
- AR teams should poll their sales organizations to obtain anecdotal evidence of analysts impacting revenues (e.g., leads generated, sales cycles slowed or stopped, situations where you were left off a short list)
- AR needs to set up short calls to explore their executives’ understanding of the impact of the analysts
- Share the findings of the research with executives and sales
Bottom Line: Many people in the vendor community do not appreciate the impact the advisory analysts have sales opportunities. When presented with actual examples of deals influenced by analysts, executives might have an “ah-ha” moment and truly comprehend how the analysts influence revenues. The value of getting to this “ah-ha” moment for AR is that with a better understanding, executives might be willing to invest more resources into analyst relations.
Question: AR – Do you attempt to gather examples of analyst influence from your sales teams? If no, why not?