Unlocking the Secrets to a Successful RFI for Analyst Ranking Reports

Whether you are looking to tackle the Gartner Magic Quadrant, the Forrester Wave or any analyst firm’s ranking report, this is for you.

In the world of Analyst Relations (AR), securing top placements in ranking reports is a game-changer. These coveted positions can drive demand, generate leads, and fuel growth. But how do you climb to the top? How do you even start?

The answer lies in mastering the Request for Information (RFI) process. Our comprehensive guide, "How to Manage a Successful RFI for a Ranking Report," is your blueprint for AR success.

Introduction to Analyst Relations

Analyst relations isn't some enigmatic art. It's a strategic endeavour that aligns with your business goals, whether that's boosting sales, enhancing product development, or improving client retention. 

A key tool to reach multiple goals is getting your spot in prestigious ranking reports. These reports significantly bolster your awareness, credibility, and chances of being shortlisted by potential clients. Our research across various technology solutions shows that analysts consistently rank in the top three sources of information for businesses when they are shortlisting new products and solutions. By securing top placements in these reports, you ensure that your company is not only visible but also trusted and considered a leader in your industry.

A well-executed AR programme zeroes in on identifying the ranking reports that matter most to your business and positioning you favourably within them. 

Determining Worthy Reports

Before diving into the RFI process, it's crucial to pinpoint which reports are worth your time. RFIs demand substantial effort from various stakeholders, including heads of business units, finance, marketing, sales, and more.

So before you commit, it is worth asking some key questions upfront:

• Does the research cover your core business?
• Will it include relevant competitors?
• Is the competitive analysis methodology fair?
• How will your shared information be used?
• Is confidentiality ensured?
• Will you get an executive summary if you're not a client?
• Is the analyst firm critical to your AR programme?
• Can you meet the RFI deadline?

 Building Analyst Relationships

Once you've identified the relevant reports, the next step is building relationships with top-tier analysts responsible for the reports. This requires a strategic and sustained effort. Analysts need to see your organisation in the right light, framed effectively through ongoing, tailored communications. A key milestone is receiving an RFI from your target analyst firm, marking the beginning of a focused effort towards ranking success.This should start at least 12 months prior to the kick-off of the report.

Gathering Intelligence

Preparation for an RFI starts well in advance. A minimum of 12 months is recommended to align your strategy with the criteria, previous participants, market backdrop, and customer needs. Understanding the analyst’s vernacular and preferences is essential. Skilled AR professionals can navigate these complexities, ensuring accurate and impactful responses.

Phases of Managing an RFI 

Here’s a high-level summary. For more detailed information, download our ebook.

Phase 1: Liaison Between Analyst Firm and Stakeholders

• Designate a single point of contact for the analyst firm to streamline communication and information gathering. This person coordinates with key stakeholders, sets deadlines, and ensures all requirements are met.

• Engage with subject matter experts and stakeholders early, being prescriptive about information needs and deadlines. Map out your stakeholders and maintain a collaborative approach, ensuring everyone understands their role and the importance of their contributions.

• Compile and format your information in a way that resonates with the analyst. Use extraordinary case studies and success stories to stand out. Practice storytelling excellence in any briefings or presentations.

• Once the report is live, leverage it for maximum impact. Purchase reprint rights and create a series of communications to promote your success. Measure the impact on marketing and sales.

• Post-publication, gather insights and feedback from the analysts to address any cautions and continue promoting your strengths. Use the ranking report as the foundation for ongoing engagement with the analyst firm.

 Conclusion

Managing a successful RFI for a ranking report is a multifaceted process that requires strategic planning, collaboration, and meticulous execution. By following our guide, you can navigate the complexities of AR, secure top placements in ranking reports like the Gartner Magic Quadrant and the Forrester Wave, and drive significant business growth.