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Thought Leadership Strategies Are Crucial For Startups And Disruptors

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The first-to-market companies who see a problem or need and develop tech to expertly solve it, aren’t always the ones that win in the marketplace. Why? Because they often are so focused on doing the good work that they miss the opportunity to broadcast their success to the world. They fail to achieve recognition and get the credit they are due as first-movers and capture mindshare, while others flood the market with similar technology, bigger budgets and gain market share.

That’s why thought leadership marketing and communications strategies are crucial to startups and first-to-market disruptors to give a startup street cred and drive online awareness in the marketplace.

Thought leadership will continue to be crucial strategy in the B2B tech space. It’s a go-to strategy anytime technology is transforming, modernizing and disrupting. This is happening in a lot of industries right now — especially in healthcare — where the pandemic has ignited long-overdue, massive digital transformation, from the back office to the OR and to connective home care to life sciences. 

In working with a range of healthcare tech companies from startups to publicly traded entities, our recommended thought leadership campaigns include strategies to drive credibility and massive awareness with targeted audiences and the general public. Campaigns typically include strategic news/content, analyst relations, collaborations, awards, high-profile speaking engagements and, of course, focused efforts to secure earned media coverage for client thought leaders and subject matter experts through interviews, podcasts, webinars, and contributed byline articles.

Many of our clients have seen a white space opportunity — such as a chronic challenge in healthcare — and have solved it with tech. That’s leadership! Creating thought leaders within the client organizations who can share their expertise, amplify and broadcast their solution stories, and even help other peers by sharing their learning, is powerful.

Here are some thought leadership strategy tips to consider:

Analyst Relations

We all know these firms by name – Gartner, IDC, Forrester, CBInsights, Frost & Sullivan, KLAS, and Constellation Research, among many others. They provide consultative services and publish helpful reports that are distributed to their paid client base to help organizations understand the latest technology solutions, where and why to apply these solutions, who the tech vendors are, how they stack up and who to consider in a technology purchase decision. The job of industry analyst is challenging – they have to stay on top of all the many players in several niche areas, even as new players pop up every nanosecond.

  • Tip #1: analysts and their teams take introductory briefing calls to get to know new vendors, which is a smart first step to being included in an upcoming report – earned analyst relations (AR) exposure. 
  • Tip #2: understand your prospects and which firms they rely on the most as analyst firms can play niche roles.  For example, KLAS is among the top trusted resource in healthcare!

Collaborations

As consumers, we see these regularly in the mass market. Right now the hottest collaborations include Cheetos and Kentucky Fried Chicken…Sharpie and Nike…Lego and the streaming series Stranger Things. The formula behind this idea is 1 plus 1 equal more than the sum of the parts, and that brands and businesses can borrow the credibility and equity of each other, shape an exciting and creative story, capture media attention and drive awareness and buzz.

That principle holds true in B2B marketing and communications too. Beyond the obvious – a vendor and a client coming together to tell their success story — we’ve seen creative forces come together for webinars, high-profile speaking engagements and social media and PR campaigns. One of the best examples was in 2011 when Ford and Toyota – two thought leaders in the newly disruptive automotive tech space – teamed up to innovate on hybrid cars.  In healthcare, two thought leaders in a specific movement, say value-based care and AI tech — that aren’t in direct competition for the same geography or niche application space, could join forces to help drive the change. Again, 1+1=3!

  • Tip #1: be creative and look for alignment to execute a mutually beneficial, cohesive collaboration and together tell a powerful industry-changing story.
  • Tip #2: if you come together for a webinar or speaking engagement, don’t stop there! Be sure to repurpose that high-value content, maximizing it across as many paid, earned, social, and owned (PESO) channels as possible. So drawing from the webinar content, consider doing a co-bylined blog post or contributed article, an exclusive co-interview with a media outlet, and social posts tagging each other.

Recognition

Submit your thought leadership work for awards which are not only feel-good recognition for the team, but also lend credibility and generate earned coverage and online buzz. Awards from prestigious organizations like Inc., Fortune, CNN, Forbes and Fast Company and industry-specific awards from the likes of Modern Healthcare or Fierce Healthcare offer high-profile cache and elevate a company’s brand.

  • Tip #1: tell a story in your award application in a way that people will enjoy reading. Recently creating application content, I ran into a question – describe your company to a Martian – which I thought was a stellar approach to demystify the company’s technology story. It forced us to tell the story in new ways and that content made its way back into other channels like the website, sales collateral and more.
  • Tip #2: showcase real-world impact, especially with data, stats and metrics, to round out your application story.

As long as technology continues to advance – AI, ML, VR, G5/6G and more – and startups keep disrupting industries, thought leadership strategies will be an integral part of any successful PR program. From what we can tell, that’s not easing up any time soon.

What “Earned” Analyst Relations Can Do For You

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Many PR and marketing professionals hold the mistaken belief that analyst briefings are pointless unless their company has a paid subscription with the analyst firm. Analyst relations are frequently one of the first items marketers seek to remove from our PR proposals.

We firmly believe it is worthwhile for your organization to conduct an “earned” briefing, similar to the earned opportunities your PR team is actively seeking from the media. This is true even if your organization does not have a paid relationship with an analyst firm. Analysts are typically flexible when it comes to scheduling calls or even in-person briefings, provided the privilege of an earned briefing is not misused. Nonetheless, make sure you have something significant to say, and that you are ready for challenging inquiries regarding the strategy, target markets, clients, and even the financials of your firm.

Executives looking to make significant buying decisions about healthcare technology solutions often rely on analyst recommendations. Several companies rely on the rankings of a well-known analyst firm and send their RFPs only to the top 5 vendors on those lists. It is critically important that your organization is included among vendor recommendations when your prospects check in with analysts.

Yes, you’ll probably have to take a sales call along with the briefing. But the intrinsic, long-lasting value of getting in front of key analysts who decide to make the lineup for recommendations makes that 30 extra minutes listening to a sales spiel about their services and events well-worth the effort. Plus, the media often turns to analysts for expert insights. While analysts usually don’t reference specific vendors in their quotes, you do want them to be aware of your positioning so that when they are quoted in the media, your organization’s vision is helping to shape the thinking behind their comments.

Which are the key analyst firms you should consider targeting for “earned” briefings? In general, the most well-known firms are Gartner, Advisory Board, IDC, Forrester, Frost & Sullivan, KLAS, Chilmark, S&P Global and Signify Research. There are analysts, such as Mike Feibus of FeibusTech, who also write articles for media outlets.

Regular briefings with the pertinent analysts at these firms should be a part of your analyst relations strategy. Several of them regularly attend health tech conferences such as HIMSS, ViVE and HLTH. Your PR team should be making sure you connect with them in person during the show. The meet-and-greet at these shows should lead to a full briefing via Zoom a few weeks after the show.

If there is no opportunity to meet in person, visit the analyst firm’s website to view a list of the reports they intend to release throughout the course of the year. Create a briefing schedule based on these reports and then complete an online form requesting a briefing with the pertinent analyst.

So, you got the briefing booked. Now what? Be sure to read “Analyst Briefings Best Practices” for recommendations to help you prepare, including who should attend the meeting, what slide content to include and how many slides you need, practicing your presentation, and more.

Analyst Briefings Best Practices

Analyst Briefings Best Practices

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Earned media bylines and interviews get the most attention in healthcare public relations programs, but in many ways analyst briefings are even more critical to companies navigating a noisy and fiercely competitive marketplace.

Admittedly, analyst reports don’t have the curb appeal of a slick vendor profile in a top-drawer health IT publication. But they make up for it in other ways.

Many of your potential customers use the reports generated by KLAS Research, Gartner, AITE Group, The Advisory Board and others to evaluate vendors and solutions; better understand emerging healthcare categories, such as artificial intelligence and blockchain, and how they are defined; and leverage the valuable primary and secondary research to make technology investment decisions.

Analyst reports are also beneficial to vendors. They can be invaluable for testing market positioning, providing clarity on where a given solution type is on the hype cycle, and how close competitors are responding to the ebb and flow of market trends.

If your PR executives are good, they are already researching all of the healthcare-specific analyst firms and many of the cross-industry outfits and scheduling briefings. If they are smart, they are helping you prepare to make the most of this opportunity.

This post will assume that your PR firm has secured an analyst briefing and is helping you with strategy and tactics to maximize your opportunity. (If my assumption is wrong, let me know).

Phase 1 Preparation

A good PR firm is going to provide solid guidance on analyst firms to pursue. The 500-pound gorillas like IDC and Gartner seem like no-brainers, but smaller firms that specialize in specific areas of healthcare can be just as valuable. (Long-time Amendola client Health Catalyst has a terrific breakdown of most of the major healthcare and cross-industry firms.)

Once a briefing has been secured, it’s time to prepare even if the briefing is several week or months out. Preparation for analyst briefings can be resource- and time-intensive.

A media interview may run 15 to 20 minutes and be handled in-person or on the phone. Analyst briefings can last an hour if not more and often involve prepared slide decks, input from multiple executives, a demonstration of the solution or platform, the willingness to provide detailed answers to questions about your company’s history, competitors and financials.

Your PR executive should have a detailed understanding of what the analyst wants from this briefing, then help you edit and shape the presentation to align with those needs.

Phase 2 Who’s Invited

Many analyst briefings veer off in the wrong direction because the company hasn’t invited enough people or simply too many.

We recommend that unless directed by the analyst, no more than three company representatives join the call. Those people should include the CEO, who can provide company positioning and higher-level commentary; the Chief Product/Solutions Executive, who can provide detailed information regarding the solution or platform; and the Marketing Executive, who can ably describe market positioning, customer outreach and information regarding competitors.

Of course, other company representatives are free to join, but they should quickly introduce themselves, then place themselves on mute for the duration of the call. The goal of this briefing is to provide the analyst will a smooth, clear, coherent narrative about your company. That can’t happen with people talking over each other, drawing the conversation down a half-dozen blind alleys, and random background noise intrusions.

Phase 3 The Slide Deck & Demo

Sometimes, companies are tempted to throw the kitchen sink at the analyst, covering every conceivable base from every conceivable angle. The intention is good, but attempting to cover everything since the Big Bang drowns the potential for telling a compelling story.

We encourage our clients to keep slide decks and demos short. Not more than 10-15 slides and a demo lasting no more than 10 minutes. You want to explore the details, not get bogged down in them.

As such, your slide deck should address your company’s most important competitive differentiators; provide a brief history of your company and a brief overview of its most relevant products; and offer compelling, results-oriented client success stories.

Ancillary information that may provide helpful context can be delivered to the analyst pre- or post-briefing, for them to peruse on their own time.

Phase 4 The Presentation

About a week before the briefing, we recommend a dry run. For this exercise, your PR executive and an internal communications manager should stand in for the analyst. Run through the briefing. Here are some useful metrics to judge by:

  • How long did the briefing take? Ideally, you should have left a generous space at least 15 percent to 20 percent of the allotted time for questions and conversation.
  • Did the subject-matter experts talk over each other or contradict each other? Were their responses thoughtful without also being epic monologues? Were their answers transparent and sincere, or riddled with meaningless jargon?
  • How was the flow of the presentation? Did anything feel missing, superfluous or out of place?
  • Did the presentation hit on all the agreed upon value propositions?
  • Did you finish with case studies and proof points?

Phase 5 Stick the Landing

After your main presentation is done, the analyst will likely have final questions. This is a key intelligence-gathering opportunity for companies. Unlike media interviews, where the questions go in only one direction, analyst briefings allow for more back and forth.

This is a good time to test your assumptions and theories about your positioning in the market or mine valuable insights from an analyst well-versed in your area of healthcare.

Also be sure to leave your analyst with some takeaways case studies, white papers and blog posts that will provide additional context to the presentation.

Analyst briefings require a lot of preparation, but done correctly, they can be invaluable sources of information about your market and a rich source of customer prospects.

Altarum Institute’s Payformance Solutions Selects Amendola Communications as Public Relations Partner

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SCOTTSDALE, Ariz., Jan. 9, 2018 Amendola Communications, an award-winning healthcare marketing and public relations agency, announced today that it has been selected as the agency of record for Payformance Solutions, a leading provider of value-based reimbursement solutions and services. Amendola will leverage long-standing relationships with healthcare editors and writers as well as deep industry expertise to help share how Payformance bridges the gap between payers and providers in evaluating and negotiating value-based reimbursement contracts. This comes soon after the agency developed Payformance Solutions website content.

“When I start working with a new healthcare IT company, Amendola is my first call,” said Brett Furst, founder and CEO of Foresight Ventures and a strategic advisor to Payformance Solutions. “They have effectively positioned two previous companies I worked for with tremendous success. I appreciate their deep industry expertise and relationships, and know that they will take Payformance to the next level.”

Payformance Solutions equips payers and providers with the technical tools and resources required to design, evaluate, build, measure and negotiate value-based reimbursement contracts while aligning financial goals with improved patient outcomes. Backed by the respected, nonprofit research and consulting organization, Altarum Institute, the company delivers a full-service approach that helps ensure an organization’s transition to value-based care accelerates smoothly with speed and flexibility while improving the quality of care.

Amendola will provide media and analyst relations, utilizing its extensive relationships throughout the industry to bring focus to the nuances of value-based care and help establish Payformance Solutions as a thought leader.

“It’s a testament to Amendola to have repeat clients such as Brett Furst and I so much appreciate his vote of confidence,” according to Amendola CEO Jodi Amendola. “In years past, there has been a level of uncertainty between payers and providers due to differing objectives. Payformance Solutions is bridging that divide and helping organizations navigate a new reimbursement model through value-based contracts. We are excited to work with Payformance and educate the industry about the important services it is delivering.”

About Payformance Solutions

Payformance Solutions is a value-based reimbursement service provider dedicated to advancing payment transformation in the healthcare industry. Leveraging our affiliation with nonprofit research and consulting organization Altarum Institute, we launched a suite of services to equip payers and providers with the technical tools and resources required to design, evaluate, build, measure and negotiate value-based reimbursement contracts while aligning financial goals with improved patient outcomes. For more information, visit: www.payformancesolutions.com.

Marcia Rhodes | 480.664.8412 ext. 15 | mrhodes@acmarketingpr.com