Attending conferences is a mandatory requirement when promoting your life science organization, helping to establish credibility as well as increasing awareness about your organization and its operations. Find out how you promote your company effectively when attending these events and conferences.
The first step is finding the event. This can be done by asking your existing network and by using event listings such as ours at Biotechgate. You should also consider joining an industry association or local cluster. With these, you can be updated on new relevant conferences available to you, often with discounted access for association members.
There are different types of life science conferences, such as scientific events or those with a partnering focus. The first mentioned can still be beneficial for your business development as your organization will typically be presenting its work to many big pharma representatives and a larger audience. Meetings and discussions at this kind of event are typically more spontaneous instead of pre-planned.
Partnering-oriented conferences such as Biotechgate Digital Partnering can be one of your best promotional opportunities so attending both the major events along with ones that fit it in your sub-sector is a key requirement for any life science organization. Personal contact can be very effective in establishing your brand’s credibility with potential partners and clients, allowing you to develop key relationships that can enhance your company’s operations. Depending on the type of event, your strategy could differ. If you are a startup, these kinds of events can be beneficial when it comes to gauging the interest around your company’s products and assets as there are typically lower stakes involved before you increase your efforts in finding a partner. They can also build brand awareness as you discuss your organization with other individuals within the industry.
It is vital to be prepared in advance of the conference. Your preliminary research will depend on the goals your BD department wants from the event. This may include learning about a potential new market, finding a licensor, or preparing to enter a new geographical region. Once you have your goals in mind, use the conference system to search for your preferred company delegates. As well, prepare relevant materials for the meeting such as organizational or product presentations. It is important that you optimally position yourself according to what the other party is searching for in a partner. This includes answering questions such as what makes your asset special, how it differs from competitors, data surrounding the development, as well as your organization’s existing path to market plan and strategy.
With meetings typically being under rather strict time constraints, ensure that you are efficient and concise during the discussion as well as in your promotional materials surrounding the conference such as your profile descriptions and correspondence with your chosen parties. For the meeting itself, it is then crucial that you follow a structured approach to get the most out of the time allocated. This typically includes a short introduction, your company objectives, a presentation, and then a discussion over the chance of a potential deal. Lastly, future steps can be discussed by both parties, including another meeting outside of the conference or exchanging additional information that can help in moving the deal forward.