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.
Text of Exhibitor Booth Partnering: Doing it Right
1. Exhibitor Booth Partnering Doing it right
2. Your host Sougato Das Director, Partnering Products & Services BIO 3. Maximize your exhibit there is an ART more POTENTIAL to MEETING PARTNERS Partnering @ BIO is different 4. Profile counts Clearly define your offerings. Publish your profile. Dont wait. Request meetings early: Start 4 or more weeks before Convention. Dont wait. Subject matters Make it a concise, tailored and specific statement or purpose. Target your meeting request: Provide targeted and specific benefits of partnering with you. Follow up Getting close to the conference but no response? Re-message the company. the Golden rules 5. REAL Case Studies Exhibitor 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 6. 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 thats 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 request declined? Apr 3 Partnering Opens Jun 23 BIO Intl. Begins May 26 Meeting Response Volume Increases 1 2 3 7. You are sending a meeting request, not an email. Your target has 100+ other requests. Dont 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 Good Meet Introducing Discuss collaborating Great opportunity to work with services Lets meet Meeting request Bad 8. Exhibitor Booth Partnering is a powerful tool for targeted sales & marketing. Do have a strategy and objective. Dont 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 companys website - Look at the companys and delegates profiles on the ..partnering system, myBIO and Linkedin Why is your company uniquely positioned to meet your targets ...needs? Describe it in the body of your message request. Most meeting requests go to biotechs and pharmas 9. Do cater each message to the targeted company. Dont use the marketing copy from the home page of your website. EducationTarget the message (contd) An effective meeting request from a CRO to a Biotech SUBJECT: Clinical study execution services for phase 2, diabetes trials in India BODY: Dear , 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, Example: 10. Do follow up on a cancelation. Dont take it personally or let it get you down. EducationCancelation? Make the most Business Forum is intense. Companies may cancel their meeting with you DONT DESPAIR The 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 companys meeting with you will occasionally get canceled in favor of a biopharma or investor. Dont take it personally. FOLLOW UP When 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: 11. Exhibitor Booth Partnering vs. Business Forum We used the BIO One-on-One Partnering System to schedule 144 meetingsresulting in multiple requests for proposals. Im 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 12. 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 on Exhibitor Booth Partnering 13. 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 14. #BIO2014