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Marketing Your Innovations Kris Johansen, Ph.D., M.B.A. Office of Intellectual Property and Technology Transfer Iowa State University Research Foundation [email protected] (515) 294-3208 Outline • • • • “Cold” e-mailing tactics Creating targeted direct mail campaigns IP package Using the Web to snare licensees Invention Disclosure The Technology Marketing Cycle Licensed IP Monitor license and assist with follow-on IP Understand technology & convey to business community (non-confidential) Marketing Abstract Determine appropriate industrial partners (customers) Negotiate & close deal List of Contacts Licensable IP Contact Industry or academic experts & discuss Actively & passively market technology Protect if commercially valuable IP Assessed Technology “Cold” e-mailing tactics • Who do you contact? – Scientific champion – Decision maker – Both? “Cold” e-mailing tactics • Where do you find contacts? – Inventor contacts – Personal network – AUTM/LES “Cold” e-mailing tactics • Other tools for finding contacts – – – – – Google Scientific Literature Conference Proceedings/Agendas SBIR/STTR Award Information (http://tech-net.sba.gov/) Subscription services (e.g., Hoovers, Frost and Sullivan, ZoomInfo, Knowledge Express, etc.) – Professional networking sites (e.g., LinkedIn) – Financial resources (e.g., Wall Street Journal, Bloomberg, EDGAR) – Trade magazines “Cold” e-mailing tactics • Building a targeted list – Is an iterative process: begin with a few key companies and identify their competitors, then identify competitors of competitors – Can take time to identify the “right” contact and find accurate contact information – Requires some judgment: Will the contact be interested? Will they forward on the information? Are they still with the company? – Can be improved by soliciting inventor feedback “Cold” e-mailing tactics • • • • How many companies should be targeted? What about spam filters? How do you track and measure success? How do you follow up? Creating targeted direct mail campaigns • Identify the “right” contact • Make your letter effective – – – – – Write person-to-person Use formatting to identify subsections Avoid industry/technical jargon Keep it short Goal is to get a response Creating targeted direct mail campaigns • Include informational materials that are benefit-oriented • Include your direct contact information • Follow up with a phone call(s) IP Package: What to include • Non-confidential information: – – – – – – Marketing brief Relevant publications Presentations (public) Posters (public) Performance data (non-enabling) in industry context Other information that supports the technology’s value proposition Marketing Brief • • • • • • • • • • • • Reference Number Title Non-technical Summary Description of Technology Advantages Application Areas Related Technologies Stage of Development IP Status Licensing Contact Key Words Supporting Documents Marketing Brief Tips • “Sell” the technology, but avoid hyperbole – Emphasize benefits and not features • Avoid the use of jargon – Aim for an educated but not necessarily expert audience • Use images to illustrate advantages or applications • Get inventor input, but prepare it yourself • Double check spelling and grammar Marketing Brief-Example 1 Marketing Brief-Example 2 Supporting Document Example Marketing Brief—Examples of Benefits • Biodegradable (does not persist in nature)—Insect Control Agent • Versatile (response to a broad variety of environmental signals has been demonstrated)—“Smart” Material) • Economical (uses less space and can be retrofitted for an existing processing operation)—In-line continuous flow meter) • Comprehensive (the assay detects an antigen conserved among all swine influenza virus subtypes)—Assay for Influenza A virus) • Environmentally friendly (uses biorenewable resources and the sole by-product is non-hazardous silica)—Catalyst for reduction of polyols) IP Package: What not to include • • • • Confidential information Data (non-public) Enabling information (non-public) Anything related to claims that may become part of a patent application • Patent applications • Somebody else’s IP IP Package • Other materials: – – – – – – “Technology cards” Briefs from a portfolio of related technologies Informational materials on your organization CDs USB memory Consider providing inventors with marketing materials to use at conferences Using the Web to snare licensees • Let potential licensees find you: – Technology search: • Post available technologies on your Website • Categorize by technology or industry area – Make your Web site “search friendly” • Include high-quality content, especially on your homepage (but avoid duplicate content) • Have other sites link to yours • Make your site accessible • Have accurate and compelling page descriptions • Use targeted key words Using the Web to snare licensees • Have a subscription option for Automatic Technology Updates – Subscribers choose technology areas of interest – Have the option to receive updates when patent(s) issue Using the Web to snare licensees • Have dedicated pages for non-exclusively and frequently licensed technologies – – – – Include marketing information Include sample agreements or standard licenses Include inventor and licensing contact information for questions ISU examples: germplasm, 1% linolenic soy oil, lead free solder, corn gluten meal Using the Web to snare licenses • Monitor “hits” on your Website • Identify where they come from • Use to contact directly; add to your database of contacts Using the Web to snare licensees • Market your technologies on other Websites: – – – – Lead Discovery DailyUpdates (http://www.leaddiscovery.co.uk/) TechEx (http://www.techex.com/) Sensor Technology Information Pages (http://www.sentix.org/) Tynax Technology Trading Exchange (http://www.tynax.com/TTX1/Default.asp)