For those new to the analyst industry the first steps toward seeing value are often unclear. Understanding the analyst landscape in any particular sector is a difficult process even for those working in the industry on a daily basis.
Technology evolves ever faster, with markets that were utterly separate converging, sometimes almost overnight. Then no sooner have markets consolidated than disruptive technologies redefine the space with new start-ups springing up.
Keeping abreast of these changes is of course an analysts job but exactly which changes to keep abreast of is not straight forward. The expertise of individual analysts changes over time as they investigate new topic areas. They may become interested in more commercial topics or simply move firm and find they have to focus in another area. Research firms themselves also see change and strategy can diversify as clients needs grow.
For those completely new to the analyst or influencer industry all these factors can of course make the analyst world incredibly confusing. For this reason clear goals are necessary to understand exactly what you expect to achieve.
Draw up a list of what you want and who you think can deliver it. Look at a list of major analyst firms and identify those relevant to you. Do your own research to understand who is writing things that make sense from your strategy perspective.
The figure below shows a list of the major analyst firms by search results. This gives a rough indication of share of voice or mindshare for the main companies. There are numerous other factors that effect the dominance of any particular firm such as revenues, sector coverage, number of analysts, sales activities, presence at events...
For many people who do not recognize the names of any analyst firms the best first step is to find out what other people are reading and the reach of the various companies out there. For those interested in finding out more ATA Research has published a report:
Engaging with Analysts