How to Strategically Identify Target Companies at Healthcare Conferences
The healthcare conference attendance schedule for the remainder of 2019 features a number of big names such as HLTH, and hundreds of niche events as well. It’s easy to feel overwhelmed by the number of events when deciding which to attend. The key to a successful investment strategy is rooted in identifying the right verticals and companies of opportunity unique to your firm’s strengths and strategy.
With the healthcare market changing as quickly as it is, a common pitfall many companies face is identifying the right opportunities to target. If a firm fails here, it will affect their ability to build a solid pipeline and achieve success in the future.
How can you identify the right target companies and get in front of them effectively? Combining the right strategy with key data provides a competitive edge that helps you achieve higher success at any business conference.
Top Sectors to Watch in 2019
One of the biggest up and coming sectors of today’s healthcare market is digital health, as evinced by the increase in activity and investment in the space. Doctors, healthcare administrators, and patients need more technological automation across systems, which creates an opportunity for entrepreneurs to solve those issues–especially when it comes to driving interoperability amongst disparate data sources and systems.
Growth is also occurring outside of the hospital as more people seek treatment in specialty clinics and other lower sites of care. Busier clinics need efficiencies as well to manage every aspect of the patient journey.
However, this growth has also caused digital health and related assets to be priced very high. In order to avoid paying these high premiums, firms must have a more focused niche, rather than simply pursuing the hottest digital health company.
Speaking from experience working in healthcare software, the biggest opportunity lies in specific vertical applications. Firms will have greater success if they develop a thematic and strategic focus on a singular vertical within digital health that aligns with their strategy.
Build a Targeted Strategy
Once you pinpoint a specific sector, you can leverage technology to develop a theme. SourceScrub, for example, enables you to find lists of all companies within a sector or those that are attending a certain conference. When looking at one conference list, such as HLTH, firms can analyze gross indicators to identify the targets with the highest potential. Several details–from a company’s employee count and whether they’re hiring, to past and current growth trends, all play into the investment process.
Proper data presents advantages to any investor no matter their angle. Venture investors interested in fast-growth companies can look through the conference list to find which businesses have raised capital in the past and are still growing. Growth Equity investors, who may be focused on a company with a 20% average growth and steady revenue generation, can find those that would be the best to give equity funds to propel that growth. On the other hand, Private Equity investors can search for specific companies that may be stagnating, which they could target to roll up and grow.
Pre-scrubbed lists, like those on SourceScrub, can help investment professionals better identify companies of interest and then pinpoint which conferences to attend based on that information. They can also help you better prepare before the event especially when there are key-decision-maker contact details enabling you to reach out to executives and confirm your meeting schedule in advance.
Conference Preparation That Will Have Greater Impact
Firms need to consider exactly which conferences will be best to attend for their targets.
Larger conferences can be beneficial to attend from an exploratory angle–learning more about a new space and attending keynotes and sessions for research purposes. However, there’s a lot of noise at bigger events, so it will likely be more difficult to get in front of your target and make an impact.
Firms can increase their ROI from conference attendance by focusing on smaller events. Once you identify companies of interest within your target sector, find out which conferences they’ll be attending that aren’t the biggest-name events. At events like these, you’ll have a greater opportunity to get in front of the companies you’re interested in, differentiate yourself, and foster better relationships.
Proper research beforehand will ensure you communicate the right message and thus have the right impact. The SourceScrub platform includes contact details for the top executives at each company, so you can start making those connections and scheduling meetings before you arrive. Use technology to your advantage, and break through the noise at any conference.
Continue Targeting Companies Post-Conference
Post conference attendance follow-ups are imperative to nurture the relationships you made and continue the momentum.
The data available on platforms like SourceScrub equips you with the information you need to further these efforts. For example, after an event, you can find contact details for attendees and get in touch with those you want to follow up with or didn’t get a chance to talk to. If you’re interested in a specific company, you can save searches that will alert you anytime that company has notable activity or will be attending another conference.
If you’re interested in a broad sector, SourceScrub can also generate a list of conferences based on your search criteria that will help you pinpoint the right events to attend.
Finding Success for the Remainder of 2019
Deal sourcing at any conference is an ROI exercise. How can I maximize my time spent traveling to and attending the conference that will yield more deals sourced and transacted? The best way this can be accomplished is by utilizing data to identify the right businesses and prepare effectively.
Do you have an in-depth understanding of the space? Are there assets in your targeted space that you haven’t identified yet? With a platform like SourceScrub, you can obtain critical information to educate yourself on these points in minutes, identifying which trends are strong by filtering through key pieces of data.
When you attend an event armed with the right data, it makes a significant difference in the future success of your pipeline. Use data-backed deal sourcing methods to identify stronger targets, secure more management meetings, and increase ROI on your conference attendance.