In this evergreen post from Johannes Hoech, he shares nine tips for startups to get traction with analysts.
Once technology startups close their first few enterprise deals and increase revenue to millions of dollars, they often want the analyst community to recognize their innovations and give them their rightful standing in the marketplace. However, few companies know how to engage analysts effectively, are unclear on whether they should even strive to gain analyst recognition, and if they do participate, are uncertain of budgets needed to attract them.
Much has been and can be said about how to get into the analyst reports such as the Gartner Magic Quadrant. However, we are going to keep it simple. This blog is based on our experience of successfully having placed companies into the Gartner Magic Quadrant and the cool vendor report. In each case, those goals were achieved within 12 months, and in each case, prior negative analyst perceptions had to be overcome.
In our experience, these are nine key elements to successfully engage the major technology analyst firms such as Gartner, Forrester, Sirius Decisions, or 451 Research Group.
1) Clarifying competitive differentiation and customer value-add
Analysts provide advice, market overviews, and vendor assessments to large corporate clients who rely on the key firms to absorb and implement needed technologies. Those corporate clients also account for most of the analysts’ fee intake. This creates a need for analysts to be objective. Their advice has to deliver results for their clients and not push certain vendors.
Most startups are reinventing some technology, while most of their enterprise clients must manage their needs effectively with existing and established technologies. As such, it’s very important for startups to prove that their new technology works and delivers results so that they can be considered for purchase.
This means startups must examine why they are better than their competition and why they deserve special recognition. When doing this, it’s essential not to think inside-out or express overly technical explanations of how something is done under the hood but think outside-in about what is the big problem that this technology solves more cheaply or effectively than the existing alternatives.
To think through your technology’s differentiation, it can help to invite your buyers to comment on the efficacy of your product before engaging with analysts. Carefully listen to objections they might voice. If they express any complaints, the chances are that analysts in their surveys hear the same feedback. When preparing for analyst conversations, any objections should be examined, and counterpoints formulated.
Remaining points include:
- Understanding each analyst firm
- Leveraging analysts for thought leadership activities
- Effectively managing analyst engagements
Read the full article, 9 Tips for Startups to Get Traction with Analysts, on MarquetU.com.
Christophe De Greift provides a post designed to help you get it right with these five tips for a more data-driven 2021.
2020 accelerated several trends and one of them is the need to be ‘data-driven’ in decision making. From vaccine testing to last-mile logistics in e-commerce, data analytics is part of the path to making the right decision and generating value.
Having collaborated and talked with dozens of Peruvian companies this year on their greatest analytical challenges, I share below my recommendations for a 2021 full of analytical successes.
Turning data into value requires such a diversity of knowledge and skills that it cannot be achieved without effective teamwork. However, collaboration in analytics does not occur naturally, as the business user seeks a practical solution to their problems and does not know about machine learning, while the data scientist prioritizes rigorous analysis and knows little about the business. A solution that several Peruvian companies have successfully implemented is the incorporation of an Analytics Translator to the team , connecting business users and data scientists.
- Strategy second
I have been a staunch advocate of strategic planning for business, despite mounting criticism. Data analytics also requires a plan, but that doesn’t mark the beginning of the analytics journey. Indeed, a minimum of knowledge about artificial intelligence, data governance and technology is required to think strategically about analytics and an organization must experiment first to develop this knowledge. An online course is not enough. If you are just starting out, choose a use case following the advice in the next point.
- Overcoming cognitive impairment
- Using minimal viable outsourcing
- Moving with speed
Read the full article, 5 tips for a more ‘data-driven’ 2021, on christophedegreift.com.
Umbrex is pleased to welcome Sharad Elhence. Sharad is an experienced business strategist and innovator. Most recently he was the founder and CEO of a social impact startup to create a Netflix-like digital platform for the arts & culture ecosystem. Earlier, in his consulting career with McKinsey, i2 Technologies (now BlueYonder), Infosys Consulting, and North Highland he has successfully launched and run consulting practices.
His domain expertise includes Operations Improvement (Supply Chain & Procurement), Data Analytics, and Value Assurance across several industry verticals including Retail, CPG, Distribution, and Technology. He is known for taking on complex challenges and turning around failed or stalled projects. He is based in Dallas, TX but enjoys global travel.
Umbrex is pleased to welcome Glenton Jelbert to our community. Glenton does operational improvement work and data analytics.
He is a lean manufacturing expert, recently helping organizations with everything from factory layouts to complete operational turnarounds. He is also a data expert.
He has a PhD in Physics, and is comfortable in Excel, Access, MySQL, and Python. He uses these tools to gain operational and strategic insights out of messy data and to set up systems to do the same. He is very hands-on, having been the VP of Engineering at a high tech manufacturer for four years.
He lives in Orange County, California.