One of our current technology clients, Tecplot, is preparing for a new product launch later this year, and we’ve been very busy developing and executing our plan. One of our first strategies was to educate the analysts in the new product’s industry, and give them a sneak preview of the new product and gather their feedback.
As we’ve discussed before in this blog, analyst relations can be a huge part of any new product launch, especially in the technology field. Analysts serve as a credible third-party influencer who can attest to the quality and innovation of a company’s product. They are often called upon by the media during a product launch to comment or provide perspective. They also work behind the scenes with potential customers and partners, recommending new software and services.
On behalf of Tecplot, we scheduled five analyst briefings with IDC, Cyon Research, TechNavio, Schnitger Corp. and CIMdata. In preparation, we developed a PowerPoint presentation with background on Tecplot and its new product. We also coordinated GoToMeeting sessions for each analyst and ensured that a working demo of the new software product was available to provide analysts during the call. Services like GoToMeeting are a great way to provide a working demo of a new product without the need to travel across the country to be in the analysts’ offices.
Each of the calls went extremely well. The analysts were all willing to provide feedback on the messages we presented, which served as a good “trial-run” for our spokesperson. After the call, we discussed the messages which were well-received and which should be adjusted.
Since Tecplot’s product isn’t going to be announced publicly until later this spring, we asked each of the analysts to honor an embargo. If you are going to enlist a similar analyst strategy for your new product or service, we recommend knowing the difference between an “embargo” and a “non-disclosure agreement (NDA)” for your discussion with the analysts. NDAs are a legal contract between yourself and the analyst/reporter. News under embargo, on the other hand, are often a time-limited disclosure of information, normally based on the honor system.
While there have been instances of people breaking embargoes in the past, and several prominent media sites refuse to honor them, the team at Communiqué PR has never had an analyst break our trust in this manner.
Have you had any great experiences with analysts? Do you have any other tips to share with regards to working with analysts? Join the discussion by commenting below.