Pitching ideas to strangers is a nightmare for most inventors. 

Yet, a crucial step for product development is getting in touch with the right people. Specifically, people who can propel the idea forward. Licensing used to require cold-calling people within companies. Often you were faced with a gatekeeper and had to ask who was in charge of new products. A cold calling veteran could expect a 10% return rate. Today, product developers are leveraging the power of social media, especially LinkedIn. By using LinkedIn’s business networking capabilities it’s possible to increase your success rate up to 40%. However, this requires the correct approach.

First, stop viewing LinkedIn as a job hunting site. It is far more powerful than that. A profile is more than just a digital resume. By keeping your profile current and actively engaging with people you can truly build a network – not just for work opportunities but licensing opportunities as well.

Reaching out to potential licenses is straightforward but people often miss the mark. 

Hopeful inventors will send walls of text with links and images. These messages have no clear next action and carry far too much information. These messages will get you nowhere because they are spam. To avoid being caught in the spam filter start by improving your profile.

Having a professional profile is vital in achieving networking success with companies looking for ideas on LinkedIn. 

After sending your message, potential licensors will often view your profile as a way of qualification. This is why it’s so important to have a strong custom profile. The profile is really the starting point of your marketing material. This is before any sell sheet is read or idea is considered. In short, it’s the profile that’s put under the magnifying glass. If you take the time to polish your profile the entire marketing package is improved. With a well put together profile your idea suddenly has more merit.

What should you improve on your profile?

Throw away the basic LinkedIn template that is handed out to everyone. Use a headshot that you are proud of. Take the time to write a concise subject line and biography. 

Now go make some connections.

Start by searching for companies on your hit list. Look for sales and marketing people on LinkedIn within these companies. These professions generally seek new networking opportunities. The other thing to look out for is the activity of a profile (seen on the profile page). You want to send connections to active users of the site. This a way to fast track invitation acceptance.

Reaching out without spam.

Covering every feature of your invention is not the right strategy. The first message should be a simple request. Ask who in the company handles open innovation submissions. Also, make sure there are a few days between this message and an invitation acceptance. Keep in mind most won’t respond. Some responses may come in minutes, some in months. Make sure to keep your expectations realistic.

Spammers will use the site to force feed their products.

Instead, take the opposite approach. Update your profile and header photo, reach out to specific companies of interest, and keep messages brief with a call to action.