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BiotechNiques
It pays to plan: Integrated promotional strategies
A vendor arrives at a biotech start up. She's hawking an
e-newsletter program, one that's sure (she says) to reach
the investors you dream about. But before you write that check,
sit down with your annual promotional plan and see if the
program fits your budget and objectives.
What's that, no annual promotional plan? Then the first order
of business is to write one, preferably in partnership with
the experts at a biotech incubator or consulting group. Written
plans are a bit magical—they tend to be realized. A
promotional plan should include:
1. At least one measurable objective (eg, "Gain 2 new
investors in 2007." "Gain incremental capital totaling
$750,000.").
2. A specific strategy for reaching the objective
(eg, the investor groups you plan to target and the message
about your firm that you plan to communicate to them).
3. The tactics you will use to communicate the message
to your targets. Tactics are specific media (eg, emails, web
conferences, personal meetings and presentations, networking,
articles placed in investor publications, etc.). List the
cost for each tactic.
4. A budget—how much you can realistically
spend on communications. Ultimately, the budget will determine
which tactics you can and
cannot select.
Get some help in planning—useful
websites for
Missouri/Midwest biotech
BioInformatics,
market research for life sciences.
Wisconsin
Technology Network.
The
Life Science Executive Exchange.
St. Louis Regional
Chamber of Commerce
Missouri
Venture Forum—brings entrepreneurs and venture
capitalists together
Venture
Midwest—ideas for marketing to investors
Midwest
Business & Technology News
Kansas
City Area Life Sciences Institute
Biogenerator—support
for start-ups in Missouri.
Missouri
Biotechnology Association
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