In my experience this is probably the least asked question by the technology vendor community. Most vendors see market influencers, especially the industry analyst community, as a necessary evil. They know that in many cases the analysts hold direct influence over which vendors are
considered, what gets bought, and what price is paid. What they don't usually know is that there are really only two analyst firms in the industry that have the broad power to influence decisions at the point of sale - Gartner and Forrester (we call them Deal Makers/Breakers or DMBs). The problem is, there are literally hundreds of other firms (with about as many different business models), in the market that can help you with achieving some aspect of your strategic marketing goals - but can't directly help to drive sales.
considered, what gets bought, and what price is paid. What they don't usually know is that there are really only two analyst firms in the industry that have the broad power to influence decisions at the point of sale - Gartner and Forrester (we call them Deal Makers/Breakers or DMBs). The problem is, there are literally hundreds of other firms (with about as many different business models), in the market that can help you with achieving some aspect of your strategic marketing goals - but can't directly help to drive sales.
First, it is important to determine what you want out of your influencer interactions - Exposure or Influence.
Exposure
If you are turning to the influencers for exposure there are several things to consider. First, validation and external measurement of your message are extremely important to any strategic marketing program. Market Research firms or Talking Heads like IDC or Datamonitor are excellent sources for not just getting a reality check on your marketplace, but as a vehicle to taking it to the market through the media. Other, more focused, market research firms can
provide help with internal planning, validation or positioning. However, outside of the trade press, there is little they can do from an exposure standpoint. One thing to keep in mind is all market research firms get a large majority of their revenue, normally over 90%, from the vendor community.
While they can provide good channel and strategic help, there is little or nothing they can do to influence an end-user purchasing decision. In addition to market research firms there are several other types of influencers that can directly help with your exposure efforts. The most obvious of influencers is the press and/or the media, but Point Player firms (firms that focus their coverage areas on a specific vertical or horizontal technology market) like ARC Advisory, Tower (acquired by The Corporate Executive Board), or the Consultant/Wannabees or Analyst for Hire firms like Aberdeen, Hurwitz Group, or The Patricia Seybold Group fit the bill as well. These firms are good sources for visibility and exposure in the marketplace, but like market research firms can do little or nothing to influence a deal.
To be fair, many Point Players do have some influence with a select group of end-users, especially in vertical markets.
Influence
Many vendors and most PR firms confuse exposure with influence. In today's market there are really only 2 kinds of influence that matter to technology vendors. Influence over revenue or sales, and influence over a company valuation or stock price. Direct influence over a stock price or company valuation is easy to measure. However, influence at the point of sale, especially
when it comes to the industry analysts, is usually very difficult to measure.
when it comes to the industry analysts, is usually very difficult to measure.
Leveraging influence at the point of sale really comes from only two sources - end-user analyst firms like Gartner or Forrester or the companies that actually help to implement technologies like systems integrators and/or procurement consultants like TPI, Equaterra, or Everest Group. Many of today's end-user CIOs leverage the systems integrators and the industry analysts as a form of
job security or insurance. Working with either of these two types of firms can be extremely difficult because most of their revenue comes from the end-user community not from vendors. The reality is though, for most vendors (especially software), how well you work with these influencers can be the difference between life and death.
The flip side of managing influence is working with financial influencers (financial analysts, institutional investors, venture capitalists, investment bankers, etc.). These folks have an enormous amount of influence over your stock price or company valuation. Unfortunately, just working with these guys won't cut it at all.
It is difficult to gain traction without mastering all of the other elements of influence - market validation, positioning, exposure & media, customers & revenue. Like the other pieces in the puzzle, influencing the influencers takes very specific skills and the discipline to master each. Influencing the press is very different from influencing the end-user industry analysts and
requires two very different skill-sets. When developing your influencer strategy it is important to understand how each type of influencer plays into your overall marketing strategy. Understanding the differences between influence and exposure and managing how each potential type of influencer can offer them are your paramount concerns.
Once you have identified each influencer, their place in the market, and how to leverage them you can then develop the plan and personnel for going after each one. If you have a PR firm, be careful. Chances are they will claim to be able to manage every aspect of your influencer program. In our client's experience, we find that thought they are typically very good at some things, (PR activities, scheduling, and media campaigns), but not very good at others (Targeting analysts, developing AR strategy, AR training and pitch development). Conversely, this is not an area where you should try to manage the entire process internally. Leveraging third parties, associations, and or peers from other vendors will provide you with sound insight into launching a successful influencer campaign.
