Behind the Dot: Why Analyst Firms Matter (and Why It’s Not Pay-to-Play)

By Nicole S. Silacci, Director of Global Analyst Relations

Industry analyst recognition is one of the most misunderstood aspects of the technology market. Too often, people assume the accolades are simply “pay-to-play.” But here’s the reality: recognition isn’t bought, it’s earned.

Earning it consistently across analyst evaluations requires market understanding, discipline, technical and product excellence, executional rigor, strong customer outcomes, and alignment across every corner of a business from product and engineering to marketing, sales, customer success and beyond.

What It Really Takes to Be in These Reports

Analyst firms send vendors questionnaires that can range from 10 to more than 500 multipart questions. These require contributions from across the organization: product management, finance, operations, marketing, sales execution, and roadmap strategy. Deadlines are short (typically four to six weeks). And, even if a vendor opts not to participate, the report is still written, and they may still be included using public data, competitor claims, and the analyst’s educated assumptions. For vendors who take their market position seriously, participating is not optional— it’s essential.

Why Analyst Firms Do This

At their core, analyst firms exist to help technology buyers cut through the noise. Individual analysts conduct hundreds of interactions each year, and roughly 80% of those are with end users (technology buyers). These interactions range from vendor evaluations to existing product challenges, and even include renewal negotiations. In many cases, the analyst and the buyer have long-term trusted relationships that span the user’s career at different companies. The trust buyers place in analyst firms is why the model continues to thrive.

As an example, in 2024, Gartner reported $6.24 billion in revenue, with 80% generated by its research division. Buyers value the guidance because it validates claims and benchmarks vendors against real-world needs. That’s why inclusion in evaluative reports isn’t about writing a check. It’s about meeting rigorous criteria, undergoing in-depth product analysis, and being validated by actual users.

That is why it is important to distinguish that in evaluative reports (think Gartner Magic Quadrant, Forrester Wave, Frost & Sullivan Radar, IDC MarketScapes, GigaOm Radars, Omdia Universe, Radicati Market Quadrants, etc.) placement cannot be purchased. Period. Full stop.

A vendor cannot throw money at the problem if the placement isn’t desirable. Or conversely, they haven’t paid for a prominent position either. The only way to earn a strong position is through performance, execution, and customer impact. What money can buy is the ability to promote the results once they’re published.

What can be purchased are commissioned white papers that are sponsored assets where vendors pay to tell their own story, in their own words, using a third party. The difference is simple but critical: placement in evaluative reports is determined by the firm, commissioned content is bought. One validates a company’s place in the market through the lens of the firm; the other amplifies a marketing narrative.

Confusing the two is what continues to fuel the myth of “pay-to-play.”

Why Vendors Participate

For vendors, analyst relationships are strategic. Engaging with analyst firms provides access to insights that can shape product roadmaps, messaging, market expansion, M&A activity, and overall go-to-market alignment. Many times, vendors who are engaged with analysts are also part of the aforementioned long-term relationship and exist in the unique ecosystem of analyst, vendor, and end-user (think of a Venn Diagram). Therefore, credibility is essential.

And, it must be said that evaluative research carries real weight. These reports influence:

• Technologists

• Procurement teams

• Boardroom conversations

• Budget justification

• Vendor shortlists

• Sales opportunities

• IPOs

The validation isn’t about hype. It’s grounded in the independent research and guidance that analyst firms provide to the market.

The Bottom Line

Analyst evaluations are not pay-to-play. Placement is earned through proof points, outcomes, and execution. What vendors pay for is the ability to amplify that earned recognition. It’s never pay to play. It is pay to promote.

Want to go deeper into the world of AR? Explore the Analyst Relations Learning Curve courses to learn how to turn analyst engagement into revenue impact.