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Estd 4.22.2023
Introduction
In today's competitive SaaS landscape, analyst relations (AR) has evolved from a nice-to-have function to a strategic imperative. Industry analysts from firms like Gartner, Forrester, and IDC wield significant influence over buying decisions, with their research and recommendations directly impacting your sales pipeline. According to Gartner, over 70% of enterprise technology purchase decisions are influenced by analyst reports. Yet, many SaaS organizations struggle to quantify the return on their analyst relations investments and effectively communicate that value to leadership.
This guide offers a structured approach to measuring analyst relations impact, enabling you to demonstrate clear ROI and optimize your AR strategy for maximum business results.
Why Measuring Analyst Relations Matters
Effective measurement of AR activities serves multiple critical purposes:
Justifying AR budgets and resources: Data-driven impact metrics provide concrete evidence of program value when budget discussions arise.
Optimizing AR strategy: Identifying which analysts and activities deliver the highest ROI allows for strategic refinement of your approach.
Aligning AR with business objectives: Connecting AR outcomes to revenue, market positioning, and product development creates organizational alignment.
Demonstrating executive value: Clear reporting builds credibility with leadership and positions AR as a strategic function rather than a cost center.
Establishing Your Measurement Framework
Before diving into specific metrics, establish a measurement framework aligned with your business objectives:
Step 1: Define Strategic AR Objectives
Begin by clearly articulating what your AR program aims to achieve. Common objectives include:
- Improving market positioning in analyst evaluations (e.g., Gartner Magic Quadrants, Forrester Waves)
- Increasing positive analyst mentions and recommendations
- Driving qualified leads and sales opportunities
- Enhancing product strategy through analyst insights
- Strengthening competitive positioning
Step 2: Determine Key Performance Indicators (KPIs)
For each objective, identify specific, measurable KPIs. These typically fall into four categories:
Activity Metrics
- Number of analyst briefings conducted
- Analyst participation in customer references
- Analyst attendance at company events
- Response rate to analyst information requests
Relationship Metrics
- Net Promoter Score (NPS) from analysts
- Analyst engagement levels (e.g., email open rates, content shares)
- Quality and sentiment of analyst feedback
- Breadth of relationships within analyst firms
Influence Metrics
- Mentions in research reports and articles
- Share of voice compared to competitors
- Analyst quotes used in marketing materials
- Accuracy of analyst understanding of your offerings
Business Impact Metrics
- Sales opportunities influenced by analyst reports
- Deal acceleration attributed to analyst engagement
- Customer retention supported by analyst validation
- Product roadmap enhancements informed by analyst feedback
Implementing Effective Measurement Methods
With your framework in place, implement these proven measurement methods:
1. Analyst Relations CRM Tracking
Implement a dedicated AR CRM (or leverage your existing CRM with AR-specific fields) to track all analyst interactions. Document:
- Briefing dates, topics, and participating analysts
- Analyst feedback and sentiment
- Follow-up items and their completion status
- Time invested by internal teams
According to SiriusDecisions, organizations with structured AR tracking systems show 28% higher effectiveness scores than those relying on ad-hoc methods.
2. Analyst Perception Surveys
Conduct regular, structured surveys to gauge analyst perceptions:
Sample Survey Questions:- How would you rate your understanding of our solution on a scale of 1-5?- How does our offering compare to competitors in addressing market needs?- What are our key strengths and weaknesses relative to market trends?- How likely are you to recommend our solution to clients (1-10)?Best practice is to conduct these surveys bi-annually to measure perception shifts while respecting analysts' time constraints.
3. Content Analysis and Share of Voice
Systematically analyze analyst content to measure your presence and positioning:
- Track mentions in research reports, blogs, social media
- Assess sentiment (positive, neutral, negative)
- Compare share of voice against key competitors
- Monitor positioning changes in influential reports
Tools like Forrester's AR Dashboard, ARchitect, and ARInsights can automate much of this tracking.
4. Sales Impact Tracking
Connect analyst influence directly to revenue by:
- Adding "analyst influence" fields to CRM opportunity records
- Surveying sales teams on analyst impact in deals
- Tracking win rates for deals where analysts were involved
- Calculating average deal size for analyst-influenced opportunities
Research from IIAR (Institute of Industry Analyst Relations) shows that well-executed AR programs can influence up to 50% of enterprise technology deals, with an average 5-15% increase in deal size.
5. Product Feedback Measurement
Quantify analyst impact on product strategy:
- Track analyst suggestions incorporated into roadmaps
- Measure product improvements stemming from analyst insights
- Document changes in analyst assessments following product enhancements
- Calculate development costs saved through early analyst validation
Creating Impactful AR Reports
The final critical step is translating your measurement data into compelling reports that resonate with executives.
Executive Dashboard Example
Create a concise quarterly executive dashboard featuring:
- AR Program Highlights: Key achievements and milestones
- Analyst Coverage Summary: Share of voice, sentiment trends, key mentions
- Business Impact Metrics: Revenue influenced, sales acceleration data
- Strategic Positioning: Movement in key analyst evaluations
- Forward-Looking Insights: Upcoming opportunities and challenges
Audience-Specific Reporting
Tailor reports to different stakeholders:
- For C-Suite: Focus on business impact, competitive positioning, and ROI
- For Product Teams: Emphasize product feedback, enhancement suggestions, and competitive insights
- For Marketing: Highlight content opportunities, messaging validation, and promotional assets
- For Sales: Provide deal support materials, competitive intelligence, and customer reference validation
Overcoming Common Measurement Challenges
Several challenges commonly arise when measuring AR impact:
Attribution Complexity
Challenge: Analysts influence deals indirectly, making direct attribution difficult.
Solution: Implement a multi-touch attribution model that acknowledges analyst influence alongside other factors. Use weighted scoring based on the type and timing of analyst involvement in the customer journey.
Long Sales Cycles
Challenge: B2B SaaS sales cycles can extend 6-18 months, complicating timely AR measurement.
Solution: Create leading indicators (like analyst sentiment scores) that predict future business impact, while maintaining longer-term tracking for final outcomes.
Limited Resources
Challenge: Many AR teams are small and lack dedicated measurement resources.
Solution: Start with 3-5 core metrics aligned to business priorities and leverage existing tools (CRM, marketing automation) before investing in specialized AR measurement platforms.
Conclusion: Evolving Your Measurement Approach
Effective analyst relations measurement isn't a one-time exercise but an evolving practice. The most successful SaaS organizations revisit their AR measurement framework quarterly, adjusting metrics to reflect changing business priorities and market conditions.
By implementing a structured measurement approach, you transform analyst relations from a qualitative, relationship-based function into a quantifiable strategic asset. This not only secures continued investment in your AR program but positions it as a critical driver of market perception, product strategy, and ultimately, revenue growth.
When executed properly, analyst relations delivers among the highest ROI of any B2B marketing function—but only when that value is systematically measured and effectively communicated throughout the organization.