In this article, we would like to address that segment who has or who claims it has a very small market. First question is small is how small, and if it is indeed <100 then why you made such a solution, if you assume in addition that only 10% of available market will ever become a customer. This does not make sense from a business perspective, but if it is used to say “we have no money to buy your solution” then it makes sense. We do not make anyone, we just show what we have here and what you can do with it. What people often confuse is we do not offer databases, we offer datasets, this is different. Because with dataset you can work with, with database ‒ it is difficult.
Offering you a dataset of labs we would like to satisfy your current needs in those who are your market, even if it is only 100 labs in Europe. But our mission does not stop here. With the offered solution, you can go beyond and explore other available labs in and around your topic, as well as discover new markets. We do not charge recurrent fees, hence you don’t depend on a ticking clock, that your subscription is over and you do not want to pay another round, because it may be again not enough time to think about it or not enough results at the end.
Our business is to give you labs you currently need, and those that you still need but have not thought of them because of lack of resources and tools before you met us. The third option is to give you labs which are not for your products or current needs, but to give them as for educational purposes. To educate you about the research that takes place in Europe, reading it as a book.
While everyone knows that doing business by labs is more efficient than by single authors, where the latter are many, some still hope in a magic bullet with labs. Numbers are same everywhere, the only difference is that we reduce you the number of opportunities that you would chase otherwise. This saves time as it makes no difference in terms of business outcome whether to chase 40k labs or 4 millions single individuals in the same space. Further, we provide you a dataset to work through out. This means you just take all potential prospects and work through each of them. The good advantage is that given your topic there will not be so many to check, about couple thousands labs. And this is good, because you can develop relationship with each of them.
This is true that one has to stay active, but there are good news – the market is finite. It’s not like it runs and you run with it never being able to finish. Once it’s done, it’s done. It’s a one-off check, keeping tabs on the rest from time to time. There are those labs that newly occur, but this is 1% of the dataset per year, and given your topic, maybe 0.1% of dataset at the end – not that big number to check.
So this is exactly how we want you to think about this product and what it offers. The market is data, the number of prospects is finite, and you can finish them in a relatively low amount of time. We cut the time required to find the lab and check its publications to see whether it is a fit. The getting in touch is most pleasant part here as finally you can hear your lab. The data part we took away from you, proving just end results which labs are for you. Even more providing those labs that just arrived and are open to new opportunities.
The charts we made, each of them, is a background reason with what new information to reach the lab. And people will remember you. There is no spam, you offer a value, and genuinely care about them. We made it easy for you to find which set of labs are emerging, which had other set of features, etc. It is same like we outreach with new information, like here we are in the news, these are new articles we wrote, here is a new feature added, etc.
We made it that you can outreach each time in a plain email talking about the lab and its science, not with html newsletters offering your products. People love when someone talks about that what they do. Therefore we pitch them their science, this is what makes A-LabInsider different. It is not a CRM showing you whom to send newsletter. It is a science market intelligence showing from what angle can we approach this set of labs. Getting in touch and being on the phone with them matters more than just sending email once with products. Market is just the number of people who exist there, we made it that it is reduced down to number of labs for ease of business. The rest is on you. Even 2,000 labs is not that big number, it is enough to get to them once. Some will come immediately interested, some one will have to follow couple of times, some one will understand they are not in your market.
You have to do it just once, it is enough to get the feeling who will end up your customer. And the numbers play for themselves, even if 10% will agree it is still a good result achieved behind. It only sounds it is a lot of work. Take real estate as an example, or insurance, sales people do 300-400 calls per day, and these are meaningful conversations. Means it is possible. Even if with professors, doctors it does not work this way and some will not pick up, it is also fine, then you will know with whom you had interaction. And work with those people. In fact, such numbers one can work out in a course of 1-2 weeks. The plan is easy – get to each prospect, reduce the interaction time to maximum, and move on to the next one. With this you will get a glimpse of those labs, and can put them in a pipeline to follow up in some time. Market is indeed finite, if you check each of the prospects in it, you will get it done.