IP Marketing Iterative Process: Checkpoints for the Marketing Plan

In recent posts on Marketing Intellectual Property, I have described the merits of implementing an iterative marketing process; validating your decision to invest your resources in commercializing a technology; developing your marketing plan; and executing your plan. Another essential element of an effective iterative process is to incorporate timely checkpoints to test and validate your assumptions, reflect on the feedback that you have received, and communicate with your key stakeholders.

 

Pausing periodically to update your marketing plan based on the results you have achieved to-date positions you for greater success in commercializing your technologies and to proactively manage expectations with your management and the respective inventors. It is not uncommon for often unforeseen events to change the market landscape for a target innovation. For instance, consider the impact on:

 

  • the appeal of specific technologies after changes in political administrations (e.g. innovative green technology solutions)
  • the appeal of specific technologies after natural disasters (e.g. innovative geospatial solutions to assist relief efforts in Haiti and Chili)
  • the appeal of specific technologies after national security incidents (e.g. innovative airport security solutions)
  • the appeal of specific technologies after a major FDA product recall (e.g. innovative agricultural product screening solutions)

 

I recommend that you schedule a checkpoint every 30 to 90 days for each of the technologies that you are actively marketing to:

 

1.         Reevaluate the approach you are using to engage target licensees.

 

2.         Recalculate your anticipated return on investment from your marketing campaign.

 

3.         Reassess your target markets for commercializing subject technologies.

 

4.         Adjust your online marketing materials periodically to reflect frequently asked questions and additional insights you have gained.

 

4.         Proactively update key stakeholders on your progress and plans for the subject technologies.

 

Please share specific events that you have experienced that have had a remarkable impact on marketing innovations in your technology portfolio.

 

—By Jack Spain

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