# Presentation: 316339

## Technology MarketingStrategies and Tools That Work

**Catherine E. Vorwald**** **
**Workshop Organizer**
- Director, Business Development
- Chesapeake PERL, Inc.
- Savage, Maryland
- (310) 317-9300 x 101
- _[cvorwald@c-perl.com](mailto:cvorwald@c-perl.com)_
**Sigrid M. Volko**
- Associate Director
- Johns Hopkins Technology Transfer
- Johns Hopkins University
- Baltimore, Maryland
- (410) 516-4962
- svolko1@jhmi.edu
**Steven M. Ferguson**** **
- Director, Division of Technology Development & Transfer
- NIH Office of Technology Transfer
- Rockville, Maryland
- (301) 435-5561
- _[sf8h@nih.gtov](mailto:sf8h@nih.gtov)_

- LES 2005 Annual Meeting, Phoenix, AZ

## Technology MarketingStrategies and Tools That Work

*Licensing for Competitive Advantage*

**Catherine E. Vorwald **
- Director, Business Development
- Chesapeake PERL, Inc.
- 	Protein Expression and Recovery Labs

## Licensee’s Perspective

*...**Companies seek to develop relationships with key institutions to establish* *collaborative interactions and facilitate*  *technology licensing* *and transfer* *within their core areas ****solely**** for competitive advantage...*

***Catherine E. Vorwald******	***LES 2005 Annual Meeting, Phoenix, AZ

-  Technology Marketing & Licensing

## Basic but Important Tools

- Market Segmentation

**Technology Marketing**

- Target Market

- Positioning

- Value Proposition

***          ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Licensee’s Perspective

- Advantageous to Know Major Areas of Interest
- Explore the Review Process of Your Prospective 	Licensee
- Are There Preferred Marketing Tactics?

***Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

-  Technology Marketing & Licensing

## Initial Communication Tools

- Non-confidential** **Marketing Summary

**First Impressions**

- Key Word Profile

- PDF Files of Relevant Publications

- Confidentiality Agreement Template

***          ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

##  Promotion Gateways

- Intelligent Commercial Web Sites
- Biospace.com, Nerac.com, FierceBiotech.com, Corante.com, USPTO

- Information Transfer Tools

- Media/Advertising
- 		BioWorld Today, Wall Street Journal, 	trade magazines, meeting flyers

- Networking – Tech Fairs, etc.

***         ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Push Strategies

- Outward: Toward Licensees

- Electronic IP Exchanges
- 	(BirchBob, TechEx, Tech Meta Search, UVentures, Pharma -Transfer Ltd., Knowledge Express, Global Technoscan, Kristi)

- Listserves

***         ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Believe It or Not: Direct Mail

## Reliable Information Sources 

- Published PCT/US Patents

- Peer Reviewed Journals

- Public Affairs Press Releases

- Presentations at Scientific Meetings

***         ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

**Promotion Gateways**

##  Pull Strategies

- Follow-up, Beg, Plead

- Direct Contact or “Cold Call”

- Contact Licensors

- Licensor’s Invention Database

***         ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Considerations

- Good, Patentable Science is Not Always Commercially Relevant

- Lack of Market is a Deal-killer

- Make Sure the Patent Claims are 	Embodied in/by the Product

***         ******Catherine E. Vorwald******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Technology MarketingStrategies and Tools that Work

*A University’s Perspective*

**Sigrid M. Volko **
- Associate Director
- Johns Hopkins Technology Transfer
- The Johns Hopkins University

**Notes:**
Thank you _________________.  I am Bill Tew, Associate Provost and Assistant Dean for Licensing and Technology Development.   Our group is charged with managing the University’s tangible research and intellectual properties.

NEXT SLIDE

## Technology Marketing 

*Association of University Technology Manager Manual, *
*May 2002, Part VII, Chapter 2*

***        ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- The Goal:
- “To bring motivated parties to a license negotiation.”
- The Process:
- “Place the right information in the right hands at the right companies at the right time.”

## Facilitate Corporate Relationships 

- Solicit Commercial Interests

- Promote Knowledge Transfer

- Emerging Resource

***          ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## The Challenges

- University inventions are generally not developed in response to market need
- Limited resources and time
- Select inventions to be commercialized

***     ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

##  Marketing Process

- Shared Responsibilities

- ROI
- Provide leads
- Advice
- Public Disclosures

***          ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Evaluate ROI
- Uncover leads
- Protect
- Promote

## Marketing Process Drivers

- 56 % from the inventor

**Where do licensing leads come from?**

***Journal of the Association of University Technology Managers, 1999***
***1140 licenses surveyed***

- 19 % licensing staff

- 10 % licensee inquiry

- 7** **% research sponsor

***        ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

##  Marketing – Basic Rules

- Know your product
- 		Communicate value

- Know your “client”
- 		Align objectives

***         ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Know your prospective “partner”
- 		Who is your target?

## Finding that Best Partner

- Inventor contacts
- Personal and business contacts
- Alumni, former employees, university experts

***   ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Primary Resources

## Finding that Best Partner

**IP Databases**: USPTO, NERAC, Delphion, RecapIP, Knowledge Express (MicroPatent)...
**Internet Search Engines**: google, dogpile, yahoo...
**Newsletters and Trade Magazines**: FierceBiotech, BioSpace, BioWorld Today, BioView, NatureBiotechnology
**Professional Association Directories**: LES, AUTM, Bio
**Analyst Reports**: Kalorama Information, Visiongain Ltd., DataMonitor, Business Insights ...
**Corporate/Market Intelligence Databases: **Hoover’s, Knowledge Express, Recap, Pharmaprojects, Windhover...** **

***   ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Additional Resources

## IP/Corporate/Market Intelligence Databases

**Delphion**: search for patent information; graphical maps of forward and backward references (citation link); alerts/tracking; PDF bulk downloads; save and share work files.
**Hoover’s**: Company information database; data from 12Mio public and private companies.
**Knowledge Express**: Access to >25 proprietary databases covering IP, company and industry information, including drug development pipelines, clinical trials, royalty rates.
**NERAC**: Receive custom search reports from publications (including patent/trademark) worldwide; download patents; alert/tracking services.
**Pharmaprojects**: Company profiles (>1600) and drug-related pipelines database; monitor/alert service.
**Recap/rDNA/RecapIP: **Biotech/Pharma business/IP intelligence database, search information on a company, including alliances, valuations, clinical trials, product sales, SEC filings, patents and contact information.
**Windhover**: Strategic Intelligence Systems (SIS) database that captures dealmaking activity (>16,000 deals) across the healthcare sector.

***   ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- A Snapshot of Fee-based Services

## Marketing Channels

- Reach out to your network of contacts
- Contact leads: use e-mail/web site
- Post non-confidential marketing information
- University’s web site (_[www.jhtt.jhu.edu](http://www.jhtt.jhu.edu/)_)
- Electronic push sites (UVentures, Knowledge    Express, Pharma-Transfer Ltd. ...)
- University press releases
- Faculty publications and presentations
- Consider alternative channels
- Software: Open Channel Foundation

***         ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Some Concluding Remarks...

- Document your marketing efforts

- Human capital drives the marketing process – invest accordingly

***         ******Sigrid M. Volko******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

- Valuable information in the “no” response

## Technology MarketingStrategies and Tools that Work

*B2B Marketing*
*and Technology Transfer*

**Steven M. Ferguson **
- Director
- Division of Technology Development and Transfer
- NIH Office of Technology Transfer

## B2B Marketing and Technology Transfer

- Business to Business marketing is different from consumer marketing
- Also, TT professionals don’t sell products; We sell (rent) ideas, intangibles or one-of-a kind materials

***     ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## B2B Selling Cycle

- Several layers of decision making
- Several points of intervention or introspection during the sales cycle
- Differing rates of customer movement
- The importance of institutional memory

***     ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## When Selling Intangibles...

- The brand is king
- Longevity of supplier
- Customer need is ill-defined
- Communicating value is challenging
- Value perception is asymmetric
- Ability to return “goods”

***     ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## B2B Buying Decision

- Strangely enough, the buying decision is universally the same
- Emotional decision!
- Supported by rationalization!!
- Marketing needs to create the buying climate
- Help the emotion move forward while supporting the  rationalization process

***     ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Marketing Needs toCommunicate Value

- Translate product features into customer benefits
- Communicate the benefits
- Not the features
- You want to sell a drill, but customer wants a hole in the wall!
- So talk about the hole in the wall, not the drill!

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Communicating Value....

- Understand customer needs to showcase benefits
- Study customer
- What are their challenges or needs?
- How would you solve them?
- Present simple solutions
- Be direct, address customer’s specific needs

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Communication Styles are Different

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## When Selling a Technology

_**DO**_
- Use plain language, be direct
- Focus on benefits
- Use “so what” and “what next” approach
- Provide supporting data, be credible
- Use business focus

_**DO NOT**_
- Describe technology in excruciating detail
- Smother reader with facts
- Think like a scientist
- Put confidential matter
- Use jargon

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Why is a Brand Important

- Brand increases familiarity/ comfort level
- Especially when selling intangibles/ service
- Brand acts as proxy for NIH’s attributes, such as longevity, stability, new ideas, fairness...
- Brands deliver/ reinforce essential message
- Brand increases awareness and recall
- Brand motivates licensee diligence/ respect

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## NIH Brand Elements

**Science.**** ****Ideas.**** ****Breakthroughs.**

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Protecting and Sustaining a Brand

- Use branding elements consistently
- Don’t cheapen brand by overuse
- Avoid brand clutter, use fewer details/ elements
- Brand should deliver: Truth in advertising!
- Whole organization has to “live” brand’s promise

***         ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ

## Role of Brand Is Important

-  Source:  Balakrishnan, et al. *Journal of Medical Marketing* (in press)

## In Closing...

- Change mindset: Think business, not science
- Think about technology applications & benefits
- Think about solving customer’s problem
- Recruit “Technology Champion”: Inside (inventor) and outside (company scientist)
- Use multiple marketing strategies and communication channels
- Preserve, Promote, and Grow institutional brand

***   ******Steven M. Ferguson******	****** ***LES 2005 Annual Meeting, Phoenix, AZ