The Win
Generating new business from small companies often requires being a PR resource
long before signing a contract. This is how Investor Awareness got its foot
in the door with MedCare Technologies last month. After networking with the
healthcare technology service for more than a year, Investor Awareness, a financial
and media consulting firm, was top of mind when MedCare decided to aggressively
launch its online pharmaceutical site, RxSheets.
Investor Awareness is developing an investor relations campaign for MedCare
that will target business-to-business and e-commerce media.
Main Competition
Investor Awareness was the only firm seriously considered.
Pitch Team
Tony Schor, president; Brad Fishman, VP; and Max Evans, account executive.
Assignment
When IA forged a relationship with MedCare's CEO Jeff Aronin more than a year
ago, the company was not in a position to proactively promote itself. It relied
on in-house marketing counsel to crank out press releases.
In spite of its low PR profile, IA positioned itself as a financial/media resource.
IA regularly faxed appropriate articles to Aronin on health industry trends,
particularly involving startups. IA also kept itself updated on MedCare's business
profile, often inquiring about its short- and long-term plans.
This networking helped Aronin develop a better understanding of how proactive
PR can be used to generate targeted investor interest. Shortly after launching
RxSheets, interest had fallen flat in the investor community. Aronin recognized
how an aggressive PR campaign could inject the level of industry awareness RxSheets
needed to get on investors' radar screen.
Presentation
Once MedCare expressed interest in using IA's services, IA highlighted how
its work with healthcare startup companies contributed to soaring stock values.
IA's recent success stories include:
- Ambi Nutrition -- its stock shot up to $8 from $1.25 and settled at $4.50;
- Dynagen -- its stock surged to $1 from $.30, and settled at $.84; and
- MDI Entertainment -- its stock climbed to $14 from $1.56 and settled at
$9.
In the case of RxSheets, the online pharmaceutical site delivers a niche service
that will resonate with business-to-business and healthcare media. RxSheets
is the only service that allows physicians to order pharmaceutical samples online.
The site also offers physicians an array of information on drug protocols, studies
and other pharmaceutical trends.
IA convinced MedCare that RxSheets could benefit from its financial media expertise
with this game plan:
- targeting reporters at publications that focus on technology, the Internet,
investor news; and - scheduling investor road shows that analyze e-commerce, pharmaceutical,
healthcare and technical businesses.
Pitch Tips
The climate couldn't be better for educating startups and small companies on
the merits of using PR to complement investor relations strategies. But it does
take a patient networking approach that convinces these companies that your
agency is a solid industry resource. Laying the groundwork doesn't have to be
time-consuming. Keep in mind, however, that these companies need relevant industry
information that demonstrates how PR helps boost investor interest in their
area of expertise.
To generate this level of credibility among small companies with a low PR profile:
- learn the company's business inside and out, then identify specific areas
that PR can expand targeted awareness; - make sure that the company learns of your agency's success stories with
clients that have similar business profiles; - demonstrate how research firms like Forrester Research and Jupiter Communications
use your agency as a resource; and - send the company relevant industry articles on marketing, PR and investor
relations.
(Investor Awareness, http://www.investor-awareness.com,
Tony Schor, 847/945-2222; MedCare Technologies, Jeff Aronin, http://www.rxsheets.com, 630/472-5308)
Investor Awareness
Founded: 1994
Location: Deerfield, Ill.
Focus: investor relations, media consulting
Healthcare Clients: Dynagen, Ambi Nutrition
Phone: 847/945-2222
Web site: http://www.investorawareness.com