It has been said that the Magic Quadrant is like the gold standard for the technology provider market. Magic Quadrants are visualization tools – they impact how customers choose vendors by evaluating the progress and positions of companies in a specific technology-based market. They are also very useful tools for investors looking to find a company that fits their needs. Moreover, a Magic Quadrant report is invaluable to businesses seeking to compare competitors in their market.
Annually a Magic Quadrant, as well as a special report, is released for each IT industry. In order to feature in it, a rigorous list of requirements must be met. It all comes down to “ability to execute” and “completeness of vision.” Each part of the Magic Quadrant deals with different levels of “vision” and “ability”. The four quarters distinguish between Niche Players, Visionaries, Challengers, and Leaders. Companies are ranked by being placed in one of the four quadrants. This helps to illustrate the strengths and differences between companies in a very visual way.
Explaining Your Magic Quadrant Report Using Video
The Magic Quadrant Report
An essential companion to the Magic Quadrant is its report. Whereas the Magic Quadrant reveals a broader analysis of the vendors in a market, the report provides deeper insight into the products / services by extending the Magic Quadrant analysis.
Explain the Market with Video
Both the Magic Quadrant and the report can be clarified, using mysimpleshow videos. Buyers, as well as vendors, can make good use of mysimpleshow explainer videos to explain the market as part of their analysis of the Magic Quadrant Report. These videos can then be shared with relevant team members, so that they do not have to read through the whole report. And so, video can be used to shed even more light on the revelations of the Magic Quadrant.
Here are a few things to consider when making a mysimpleshow video analysis of the Magic Quadrant:
-If you are in the process of choosing a vendor, use the Magic Quadrant and research report to make a shortlist for further evaluation. Visualize your shortlist by making an explainer video that compares these vendors.
-Make a mysimpleshow video that draws attention to some of the “planning assumptions” highlighted at the start of the report. Expectations and predictions for the market can be shared in the video.
-An explainer video can be made of the “Evaluation Criteria Section” of the report (to clarify the 8 criteria that analysts use to evaluate each vendor) before you make a decision on a specific vendor.
-Analyze the report by making an explainer video on each vendor’s strengths and weaknesses. This could be viewed by your team before they make a decision on an IT provider. Or, simply make an explainer video that reveals product and service ratings.
-Once you have examined the Magic Quadrant and the research report, make mysimpleshow videos to get deeper insight into the vendors’ products / services. This will help your team to understand which products / services will best suit your company’s needs.
Explain Market Competitors with Video
Magic Quadrants can be useful instruments for vendors who wish to analyze their competition. Competing companies can also use the Magic Quadrant Report to improve their own businesses, by considering the following:
-Before starting an analysis for each vendor, determine an overall view of who is new and who lost their place on the Magic Quadrant. Compare each quadrant with that of previous years to determine who is upping their game and who is being left by the way side. Make a mysimpleshow video that shows this movement analysis and explains key trends.
-Scrutinize the “Strategic Planning Assumptions” section in the Magic Quadrant Report. Then make a video to explain the context within which analysts operate. This video will help your team to know how analysts go about doing their research when creating a Magic Quadrant. This will help you make significant choices to gain the upper hand.
-Make an explainer video to explain why some vendors succeed in making the Leaders box year after year; why some vendors made dramatic jumps; why some vendors did not make the Magic Quadrant. Then use your own video analysis to help you make more sensible choices for your organization.
-If it is your company featuring in the Quadrant, use mysimpleshow to analyze and explain to colleagues where you are in the quadrant and why, and how to move forward to get into the coveted top right hand quarter.
Magic Quadrants, together with their reports, provide in-depth research on each sector of the technology industry. They are indeed valuable, because companies use Magic Quadrant Reports to short-list vendors and to compare their own position in the market with those of competitors. And so, Magic Quadrants and their reports can be especially useful tools when analyzed with the use of explainer videos that bring the Magic Quadrant Report to life.
If you’re looking for more ways to improve your business using videos, check out this post.