Analyst Relations Is A Critical LMS Marketing Strategy
The best marketers I know spend a lot of time measuring what works for their LMS marketing strategy and what converts leads into sales. Unfortunately, you can only measure so much. You may have already learned that sometimes you have to go with your gut. There are reasons why your sales are slumping or why you are growing rapidly, that you may never discover. If you are able to find those reasons, it's usually one of three things:
- The economy, which you will never be able to control.
- How much competition you have (or don’t have), which you won’t be able to control.
- The last one, and most important one, is word of mouth. This you can affect!
There are many different types of word of mouth, but the most important (behind customers) are generated by industry analysts and LMS selection consultants. In this crowded, noisy, and confusing market, the big buyers rely on analysts for direction. Especially the big companies, because there is just too much at stake if they make a bad purchase decision. Also, big companies tend to have accounts with analysts like Gartner, so they use them to find the right vendors.
Here are some insider secrets to benefit the most from industry analysts.
Take Α Ηybrid Approach To Your LMS Marketing Strategy
We don’t all have $40,000 to spend on Gartner to get their time, input, and research. I recommend a hybrid approach for working with analysts.
- Pick a couple of analysts who you think will help the most and invest your time and budget with them. These will be your go-to firms that appreciate what you do and are more likely to say nice things about you.
- Do briefings with all industry analysts on a consistent basis. If you’re not meeting at least once a year with 10-15 analysts, then you’re leaving money on the table.
At the end of this article is a list of the top learning industry analysis and selection consultants that you should talk to.
Schedule A Marketing Meet-And-Greet
The one or two analysts or consultants who get the bulk of your time deserve a formal introduction. Schedule a briefing where they can get to know your product, company, and current LMS marketing strategy. This also gives them the opportunity to ask questions about your software and positioning. Likewise, you can ask them about their industry experience and who they're focused on.
Always Have A Point Of Contact On Both Sides
There must be someone at the firm who can reach directly via email or phone. In turn, you should assign a point of contact within your own organization who can quickly respond to calls or requests from analysts. That way, the lines of communication in your LMS marketing strategy are open. There isn’t any confusion about who to contact when clients have a question or concern. Even more important, there is no delay in getting back to them. Analysts are extremely busy, so they're not going to track you down and they will appreciate rapid response.
Map Out Your Briefings Beforehand
A briefing is your chance to meet with industry analysts and selection consultants who cater to your product category. The key is to plan ahead and familiarize yourself with each firm before the meeting and identify what their client base is looking for and how your product fits into the market. Provide them reference materials that summarize your key USPs and specs. Which makes it easier for them to recommend relevant tech platforms to their clients.
The reason most learning technology vendors fail with analysts is because it’s time-consuming and requires a lot of planning. However, when you understand the importance of the analysts’ word of mouth to your business, then it makes it a lot easier to justify this valuable investment.
Important Learning Industry Analysts And Selection Consultants
- Aptitude Research Partners
Analysts: Mobile Lombardie & Madeline Laurano - Aragon Research
Analyst: Jim Lundy - Bersin by Deloitte
Analyst: Janet Clarey - Brandon HallGroup
Analysts: David Wentworth & Michael Rochelle - Chapman Alliance
Analyst: Bryan Chapman - Claire Schooley Consulting
Analyst: Claire Schooley - Craig Weiss Group
Analyst: Craig Weiss - Donald H. Taylor (UK)
Analyst: Donald Taylor - Fosway Group (UK)
Analysts: David Wilson & David Perring - Gartner
Analysts: Jeff Freyermuth & Carol Roswell - i4cp
Analysts: Kevin Oakes & Kevin Martin - IDC
Analysts: Cushing Anderson & Linda Rowan - LaRocque & #HRWINS
Analyst: George LaRocque - Learning Light (UK)
Analyst: David Patterson - Lighthouse Research & Advisory
Analyst: Ben Eubanks - RedThread Research
Analysts: Dani Johnson & Stacia Garr - Sierra-Cedar
Analyst: Stacey Harris - Simba Information
Analyst: Kathy Knights Mickey - Talented Learning
Analyst: John Leh - Training Industry
Analysts: Doug Harward & Ken Taylor - Wainhouse Research
Analyst: Alan Greenberg
If you want to find even more inspiration, you should join our newsletter for frequent marketing news and updates.
