Analyst relations is a corporate strategy, corporate communications and marketing activity[1] in which corporations communicate with ICT industry analysts (also known as research analysts) who work for independent research and consulting firms such as the Big Four accounting firms.[2] [3]
Analyst advice is often used by Fortune 1000 companies and others to determine the best option for major investment in ICT - especially where the deal is complex, changing, costly or critical. Top industry analysts have the power to make or break deals, thanks to their deep-rooted, subscription-based relationships with end-user technology buyers. Some analysts also focus on helping ICT firms to write request for proposal documents. Therefore, the strategy behind an effective Analyst Relations program is known as "influencing the influencers", a phrase coined by Omnicom Group's Brodeur agency in 2002. [4]
Large corporations supplying technology (hardware, software, networking, and IT Services) usually have an Analyst Relations person or team (sometimes called industry relations). Corporate analyst relations functions are also found in the automotive, aerospace and telecommunications industries. In addition to in-house AR employees, there are a number of agencies offering specialized analyst relations support.
In 2004, Efrem Mallach listed four types of industry analysts:
The remit of an AR team is to ensure that industry analysts are briefed on a regular basis about their company's strategy, products, services and solutions, as well as their ability to execute in terms of global scale and go-to-market capabilities. In addition, ARs respond to research requests, and generally try to persuade these influential third parties to represent their organization in the best possible light.
Analyst Relations teams often report into a corporate communications function, although they can also report to marketing, investor relations, sales, or even directly to the CEO.
In June 2006, the Institute of Industry Analyst Relations was formed as a non-profit community of practice for Analyst Relations professionals and its members are both in-house and agency side AR professionals. Membership is closed to industry analysts.[6]