This morning, Thompson Reuters and BIO presented a good webinar on preparing for BIO. I think it will be re-broadcast tomorrow.
A lot of time was spent on characterising transactions on a macro scale, i.e., 2,315 deals in 2013, of which 31% were Licenses and Joint Ventures.
While those statistics are interesting, the latter third of the webinar on preparing for BIO gave some good tips.
Here are a few that stood out:
Start NOW – BIO projects that the number of meeting requests will exceed what was a very busy 2013 convention.
Profiles – We’re still seeing many companies with blank profiles. Why?
Tailor Messages – We’ve been preaching this message for years. That is, every meeting request message has to be tailored for the recipient. We talked about this very point last year.
We think the tailoring should go beyond the message and extend to the presentation to be used during the 30 minute partnering meeting.
We strongly recommend tailoring the presentation to the audience to the extent possible.
Placing an asset in the context of a prospective partner’s pipeline, for example, can make it easier for your counterpart to champion your cause internally.
Making it easier for your customer to “buy” what your selling is always a good approach to keep in mind. And that holds true for all the downstream steps, such as CDAs, data room access and organization, and so forth.
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