Gordon Benzie, Author at Making Every Word Count

Understanding Industry Analyst Relations: Definition, History, and Impact

Industry analyst relations (AR) is a specialized practice that involves engaging with influential industry analysts. Analysts can provide insights, research, and opinions that shape perceptions of technology vendors in specific markets. These analysts influence buyer decisions and validate the credibility of technology solutions.

This article explains the concept of AR, its evolution, and five key benefits it offers to organizations – provided the relationship is managed appropriately. Not all analyst relations programs are successful in achieving each of these benefits. This shortfall can be based on several factors that I’ll explore deeper in a future article. View this article as a starting point with key objectives that should be factored as part of your initial analyst relations program and strategy.

It’s Time to Break Down the Data Silos of Marketing!

New research suggests that Marketing organizations need to do a better job at breaking down the internal “silos” that separate functions and data. One of the reasons why this issue has emerged is that people like to keep a tight control their slice of the data “pie.” I thought it might be helpful to share some suggestions on what can be done to overcome this challenge to help unlock greater efficiency and performance with how Marketing teams operate – a win-win for all!

Data silos can be found in many places. Within a digital campaign, it might include contact information, such as name, title, employer, email address, and phone number. Event sponsorships might include a list of attendees; website visitors represent another source of contact information.

Over time, it can be difficult to keep track of all this information. And, to ensure the data is accessible and current. Further, with the changing data privacy laws and the fact that these records include Personally Identifiable Information (PII), it is now increasingly critical to know exactly where all this data resides.

3 Ways Public Relations Can Boost Event Return on Investment

Technology has come a long way in mainstreaming remote working. Yet, despite all of these advances, it is still important to meet with people in person at events and conferences. As important relationships are best maintained in this way, events should be part of your marketing mix. The challenge is that it can often be difficult to quantify or justify the Return on Investment (ROI). And, picking the right events to attend can sometimes be difficult. Combining PR with your event strategy is a great way to boost event return on investment. This approach will increase overall marketing effectiveness and drive greater engagement with your audience.

Read this article to see how the role of PR and marketing is now merging, “The Future of Public Relations.”

The Role of PR at an Event

Given the large investment of attending an event, anything that can be done to help ROI is a good thing! The costs can be substantial. Examples include sponsorship fees, booth design, graphics, and labor set-up fees (paying union wages). Then, you need to travel to get there. This can include airfare and lodging costs. Add to this the collateral or swag given away, and the total cost is significant! Anything you can do to amplify the benefits and reap future dividends will go a long way to justifying attendance.

Have We Lost Trust in Communications?

Regardless of your political orientation, I think we can all agree that anytime popular opinion can be manipulated by spreading false news is a bad thing. With a new election set to occur next year in the US, there is a concern (rightly so) about the possibility of foreign actors or others exerting influence on the outcome. Similarly, trust over personal data held by corporations is now at an all-time low. Have we forever lost trust in communications? Can it be regained? What can marketers or communications pros do to help reverse this trend?

The Research Findings are In

The Institute for Public Relations recently conducted a survey addressing this concern. The study, “The 2019 IPR Disinformation in Society Report,” was based on a poll conducted March 19-24, 2019 by 2,200 Americans. The research sought to identify the level of trust the American public has in collecting information from various data sources as well as the parties that are responsible for combatting disinformation.

How PR has Changed the Advertising Model

If the worlds of PR and marketing are set to further converge over the next five years, we should start to see evidence that this shift has begun (see related article). The viral sensation surrounding the recent Game of Thrones Starbucks coffee cup incident is a great data point that validates this transformation.

What struck me was what an amazing PR and awareness opportunity this became from a blurred, barely visible image shown for a split second on a television show. The way brands get promoted and recognized today certainly has changed!

5 Reasons to Build a Social Media Audience

It doesn’t matter if you are a social media expert or novice – we are all impressed when you hear about the amazing number of followers some brands and celebrities achieve on social media channels. Did you know that Selena Gomez had 139 million people following her on Instagram at the end of 2018? How did she do that? You might wonder how it is even possible to achieve this level of engagement. Your next question might be, “Who cares?” Does it even matter?

Yes, it does matter.

Likes and followers are a very quantifiable metric that provides insights into your brand’s popularity. Beyond simply being an emotional boost, having a large following translates into a stronger brand, greater awareness and more revenue opportunities.

What is the Best Analyst Relations Strategy?

Analyst Relations is a term used to describe the practice of working with industry analysts to help with marketing awareness and sales acceleration programs. The best strategy depends upon your objective. Many analyst firms exist today. Gartner, IDC, and Forrester are three of the more well-known firms, however, many others exist. In terms of revenues, IHS Markit leads the pack with almost $4B and 13,000 employees. Gartner follows closely behind with $3.3B and 15,000 employees (source).

One can trace the origins of this industry to when technology solutions became difficult to understand and compare. In other words, when the technology purchase process became complex, which began back in the 1980s. Since that time, there has been quite a bit of specialization and fragmentation of the IT, technology, and software markets. As new technologies continue to be introduced (cloud, AI, machine learning, etc.), systems and platform interoperability have only further added to the complexity!

Why the Role of Trusted Advisor Has Become So Important

I am a firm believer that deep down inside, people want to do the right thing. Perhaps it is my Economics training – a key foundation for this field of study is that consumers will typically make a decision that improves their well-being. Of course, if that decision is good for you, but not good for society, then the theories of Economics don’t always explain how decisions are made or necessarily lead to decisions being made for the greatest common good. In these cases, we need a trusted advisor.

Quite often it can be difficult to say the “right” thing with family or friends. Most of us want to see our family and friends achieve success, meet their goals, and feel good about what they are contributing to society. The reality, however, doesn’t always work out as smoothly. The truth can be hurtful or damaging, or at least appear to be at the time.

Does Brand Value Live Beyond the Grave?

I was most amused when reading about a new Scotch whisky that now carries the Lehman Brothers name. The product is called “Ashes of Disaster,” so is clearly meant to evoke memories of the failed financial services company. As a reminder, some consider the failing of Lehman Brothers the catalyst that triggered the 2008 global financial meltdown.

According James Green, a 34-year-old London entrepreneur that is launching the whisky, “It has a contrite, bereft peatiness,” as quoted from the Wall Street Journal article. Mr. Green plans to offer his spirits online and has gotten orders from bars in London and New York.

Continue reading Does Brand Value Live Beyond the Grave?