Poll Shows Expert Interviews Key to Sizing Up the Market, Internet Research a Close Second

Laura A. Schoppe

Our latest poll asked:

What is the primary way your TTO determines market interest in technologies available for licensing?

Our poll results are in and as you can see from the pie chart, half of the respondents find value in talking to key players while another third conduct Internet research.

We at Fuentek agree that key players are (ahem) key in determining market interest in licensing opportunities. Once a technology has been through a well-executed screening process, primary research (which we perform via interviews of industry experts) provides important insight into the market’s interest in a technology.

But this is not to say that market research from secondary sources such as the Internet is unimportant. As we discussed in our recent webinar about how to perform technology screenings, the Internet is a great source of data that can help you efficiently and readily assess:

• Market size
• Market growth and maturity
• Hot industry issues
• Key players
• The competition

Clearly, there is much to be gained from this research, but Internet sources do have their limitations. For one thing, sometimes the data is, well, dated. And in fast-moving industries, even 6-month old data is too old to be reliable. Also, it’s often not specific enough for unique technology areas. For example, you may find the information you need about optics market as a whole but not the segment of that market interested in a specific lens.

For these reasons, Fuentek includes primary research in our market-based technology assessments. Over the years, we have found that talking to key players and interviewing experts yields up-to-date and specific market information. Interviews also provide an understanding of:

• Who your audience is and whether or not they are interested in buying what you’re selling.
• Why they care about your technology (assuming they do). This will lead into your marketing strategy, helping you craft a value proposition.
• What type of marketing collateral and media will best help you reach your target?

Of course, all of this goes back to Fuentek’s tried-and-true AMMO strategy: Audience, Message, Mechanism, Outcome. Primary research can help you specifically address each of these areas.

Thanks to those of you who participated in the poll. And our new poll is now up on our homepage. The question: What does your TTO find to be the most effective way to encourage innovator participation in tech transfer?

--By Laura A. Schoppe