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How analysts influence buying decisions in IT

on Monday, 11 May 2015. Posted in Analyst Relations

2 out of 5 buying decisions in IT are directly influenced by analysts. The other three indirectly. Decision makers in IT procurement use different sources for research. Besides cooperating with analysts a solid PR work is important.

Analyst InfluenceIndustry analysts such as Gartner or Forrester are an important factor in IT. A new study by the analysts of Freeform Dynamics shows just how meaningful industry analysts really are for deciders in IT procurement. For the study the researchers interviewed the relevant target group on the IT news website “The Register" (http://www.theregister.co.uk/).

According to that, buying decisions in IT are generally influenced by several factors but analysts are directly or indirectly playing a major role.

Analyst Reach Full

In general, most information for buying decisions is gathered through public sources on the web. The majority of deciders – more than 80 percent – is using free information during the decision cycle. This “web opinion” therefore is the base for further decision-making. As a second important influencer factor the people questioned named recommendations and advice from peers and colleagues. Especially larger companies use the expertise of consultants for the selection of IT products and services.

But at least two out of five buying decisions are also directly influenced by analysts. The researchers of the study distinguish between paid services such as paid-for research reports or the consultation of analysts on the one hand and free-to-view content by analysts on the other hand. Larger companies in particular are using paid analyst services. Here, the amount of direct influence is especially high.

The study recorded the direct influence of analysts quite well. However, the analysis of the survey can easily create a false impression. The recommendations and opinions of analysts have a large effect via the three other influencers – the impact of analysts therefore has to be assessed even higher. Comments by analysts are often published in and spread through the media - the biggest factor of influence for IT decision-makers according to the study. Consultants tend to cite independent evaluations of analysts to underpin their own recommendations and finally, colleagues are also influenced by statements of analysts.

Analyst Influence

“Analyst relations definitely is an important instrument for a successful marketing strategy”, says Bernd Hoeck, Managing Partner of bloodsugarmagic and expert for analyst relations. “In addition to analyst relations, the most important influencing factor for the public opinion should be addressed directly with a content strategy. With a wide representation of interesting content on the web, the decision makers can be reached directly on this way. That’s why it is useful to have a good PR and Online-PR strategy besides analyst relations in an influencer marketing strategy.”

bloodsugarmagic, the specialist for strategic marketing, positioning and analyst relations, has developed an innovative concept for the positioning, differentiation and increase of efficiency in marketing and sales for IT companies.

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