How to Improve your Partnering Metrics at RESI Boston

18 May

By Candice He, Vice President of Business Development, Global Investment Strategist, LSN

Partnering opened for our upcoming RESI, Boston, taking place June 5-7, this past Monday. Every RESI, LSN staff are approached by startups asking what they should do to best maximize their experience with partnering. LSN’s unique partnering platform allows companies to make a targeted effort in their outreach, arranging meetings that are much more likely to be a good fit, based on technology, indication and stage of development. Partnering is a lot of work, if done right, but the steps below, when followed, can lead to many productive meetings with investors.

Step 1: Fill in your profile and set your schedule.

Filling out your profile makes it easy for investors to see what you do and reach out to you if they are interested. Furthermore, as you do your outreach, investors can come to your profile to seek more information as they decide if your company is a good fit. A complete profile can help you stand out. Filling out your schedule to match your availability is also important, especially with the virtual partnering available 24 hours a day. As your meetings get scheduled, it could create a negative impression if you miss a meeting, not realizing it was scheduled at an inconvenient time.

Step 2: Do your research; identify the partners who are a good fit

LSN goes to a lot of effort to make sure that the partner profiles are current before registering investors and licensing partners. Using the filters to narrow down the pool to those who are a fit is a great start, but more work is required before you begin outreach. Make an effort to read each profile and further narrow down who is a fit, and who is not. Do not simply reach out to all investors – it makes a negative impression, especially as investors know the information they provided LSN. Investors talk to each other frequently – you don’t want a negative impression of you to spread. With that, you want to make sure to reach out to everyone who is a potential fit – partnering is a numbers game, and the more meetings you request, the more meetings you will get.

Step 3: Do your initial outreach

Your intro message should be prepared before you start your partnering efforts. It should be crisp and concise, giving investors a clear picture of what you do, what makes your company unique, what milestones you’ve hit and what you are looking to raise. It is preferable to customize each message a bit to the specific partner you are reaching out to – by doing so, you will make your message stand out.

Step 4: Follow up!

One of the biggest mistakes we see companies make is to send one message to each investor target and consider their job done. We recommend preparing a series of 4 messages when you prep your marketing collateral, each one highlighting a different aspect of your company – you can never be sure what will spark the partner’s interest. Send them out in the weeks leading up to the conference, following up every few days.

Following these steps will make a difference in your partnering outcomes – we have seen companies go from 1-2 meetings to over 20 by using these steps. Feel free to reach out to your LSN BD representative as well – we are happy to help!

Other resources you can use to help navigate the partnering platform are a detailed tutorial of how to use the system and this RESI Survival Guide. It is not too late to register for RESI and request meetings with the 300+ investors registered for RESI Happy Partnering!



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