Embed Size (px)
DESCRIPTION
There is an art to meeting more potential partners! Exhibitors at the BIO International Convention get more meetings by starting early, checking often, tailoring meeting requests, and following up on non-responses.
Citation preview
Exhibitor Booth PartneringDoing it right
Your host…
Sougato DasDirector, Partnering Products & ServicesBIO
Maximize your exhibit
there is an ART
more
POTENTIAL
to MEETING
PARTNERS
Partnering @ BIO is different
Profile counts
Clearly define your offerings. Publish your profile. Don’t wait.
Request meetings early:
Start 4 or more weeks beforeConvention. Don’t wait.
Subject matters
Make it a concise, tailored andspecific statement or purpose.
Target your meeting request:
Provide targeted and specificbenefits of partnering with you.
Follow up
Getting close to the conference but no response? Re-message the company.
the Golden rules
REAL Case StudiesExhibitor vs. Exhibitor. Who got more meetings?
Exhibitor # of requests
start # of different subjects
# of different messages
Meetings
CMO 1 170 7 weeks before
60 170 20
CMO 2 20 1 week before
1 1 2
IT vendor 1 90 5 weeks before
30 90 30
IT vendor 2 30 2 weeks before
9 4 3
• Starting early and checking often.• Tailoring the subject of meeting requests.• Targeting the message body of each meeting request.• Sending more relevant meetings requests? Yes. Spam? No.• Following up on non-responses a month and again 2 weeks before BIO.
Exhibitors got 10X more meetings by:
10X
10X
Send targeted requests when partnering opens. Turn on notifications in your delegate profile. Then
1 Check for new companies often. Send targeted ….requests as appropriate.2 Be patient. Responses will arrive 3 weeks before the ...event. Very little will happen before that.3 Request declined? Find another company that’s a good ...target. There will be thousands.
Start early. Check often.
The two most frequent reasons for a declined meeting are:- Schedule too full- Appropriate personnel
unavailable
Why was my requestdeclined?
Apr 3
Partnering Opens
Jun 23
BIO Intl.Begins
May 26
Meeting Response Volume
Increases
123
You are sending a meeting request, not an email. Your target has 100+ other requests. Don’t waste your subject with “Meeting request” or similar
EducationTailor the subject
• CMO Our cell line dev platform delivers production-quality lines rapidly• CRO Specialized phase 2/3 oncology clinical development services• IT/BI Our competitive intel identifies diabetes licensing ops early• Trade India offers tax incentives, investment and state-of-the-art facilities• Legal Licensing, non-infringement analysis, FTO & IP due diligence services• Biopharm Opportunities for building a manufacturing plant in Ireland• Academic Scientific and IP collaboration opportunities with Pfizer CTI• Patient Funding op for your preclinical tnf inhibitor
Each tailored
to the company
you want to meet
Good
• Meet <your company name>• Introducing <your company name>• Discuss collaborating• Great opportunity to work with <your company name>• <your company name> services• Let’s meet• Meeting request
Bad
Exhibitor Booth Partnering is a powerful tool for targeted sales & marketing. Do have a strategy and objective. Don’t blindly send generic requests.
EducationTarget the message
Do your research.
• What assets and marketed products does your target have?- Development phase- Therapy area / indication- Mechanism of action / target- Technology- Geography- Finances (i.e. funding round)- Recent news and events (press release, analyst call, stock,
etc.)- Patents, publications, clinical trials- Look at the company’s website- Look at the company’s and delegate’s profiles on the ..partnering system, myBIO and Linkedin
• Why is your company uniquely positioned to meet your target’s ...needs? Describe it in the body of your message request.
Most meeting requests go to biotechs and pharmas
Not only helps you get the
meeting, but also helps
you have a great meeting
and secure a partner
Do cater each message to the targeted company.Don’t use the marketing copy from the home page of your website.
EducationTarget the message (cont’d)
An effective meeting request from a CRO to a Biotech
SUBJECT:Clinical study execution services for phase 2, diabetes trials in India
BODY:Dear <name>,
Congratulations on the completion of your phase 1 diabetes trial. Phase 2 diabetes trials tend to be large, and recruitment speed / cost can make conducting such trials prohibitive.
We specialize in conducting phase 2 and 3 diabetes and cardiovascular trials in India, where costs are low and recruitment is fast. We have conducted 8 such trials in the last 5 years, and have rapid access to patients and investigators. Partnering with us will make it easier to get your next round of financing, as less will be needed to conduct your trial. Lets meet to discuss a partnership. Kind regards, <your name>
Example:
Do follow up on a cancelation.Don’t take it personally or let it get you down.
EducationCancelation? Make the mostBusiness Forum is intense. Companies may cancel their meeting with you
DON’T DESPAIRThe biotechs in Business Forum are seeking life blood financing. The pharmas are seeking life blood assets. When it is literally the life of a company on the line, the company’s meeting with you will occasionally get canceled in favor of a biopharma or investor. Don’t take it personally.
FOLLOW UPWhen a company does cancel their meeting with you, they will sometimes leave contact information in the cancelation. If so, you know what to do. If not, use the Reply Only function in the One-on-One Partnering system to request their contact information so you may arrange a meeting after BIO 2014. Chances are you will get it, and simply have the meeting via web or teleconference after the event. Still a good outcome.
out of it:
Exhibitor Booth Partnering vs. Business Forum
“We used the BIO One-on-One Partnering System to schedule 144 meetings…resulting in multiple requests for proposals. I’m very happy with this qualified and substantial return on investment. “
–Stacie Byars, CMC Biologics (a CMO)
Exhibitor Booth Partnering and partnering in the Business Forum serve different strategic objectives. The most successful companies employ a combination of both.
Exhibitor Booth Partnering is your chance to show off. Your branding is ubiquitous. The meeting space is yours. You can pull in your experts as needed. You can show off that flashy presentation in a comfortable environment that you control. This is your subjective sell. Think “marketing”
Business Forum partnering is about numbers and science. The space is intentionally neutral and independent. Your resource who can show the dry cold facts, research and math of why partnering with you makes sense should be there. This is your objective sell. Think “science, numbers, finance”
myBIO ≠ One-on-One Partnering: 2 systems. 2 separate profiles.You must publish your partnering profile to get meetings.
Calendar availability: Open your schedule on your partnering calendar.
100 requests allowed: You can have a maximum of 100 outgoing meeting requests in the “Requested” status.
More onExhibitor Booth Partnering
Exhibitor Booth Partnering Home Page:http://convention.bio.org/exhibitor_resource_center/
Partnering Help:[email protected] | (202) 962-6666
Even more on(line)Exhibitor Booth Partnering
#BIO2014
