The most successful marketers are those who can directly link the marketing expenditure efforts to incremental growth on sales. These commercially savvy brand managers understand that the right strategy can unleash new consumer engagement and convert new customers.
One of the most effective and lucrative strategies is that of Licensing.
Brand Licensing is the art and science of extending your brand out of your core products and services, into new and complementary products and services that attract new consumers to your brand. Many of these consumers may not have indulged in our brand in your current market-leading offering, but as they are aware of your brand’s reputation, when they are offered your brand in another category they may gravitate to engage.
There are millions of examples of successful brand licensing programmes. The most exciting elements of licensing is that when effectively controlled, consumers are unaware that their engagement with your brand has been created by a third party who is licensed to present and sell your brand on your behalf.
Did you know that Disney does not make any of their toys? They have selected very special manufacturers to develop, market and sell these on Disney’s behalf. Disney controls the brand use, assesses the quality standards and the marketing communications and receives a royalty income from the licensee.
We you aware that Westinghouse licenses its brand onto a range of televisions, laptops, light bulbs, electric power generation and landscape lighting? That Hershey doesn’t make their branded ice-cream, their licensee creates and distributes this? A Black and Decker vacuum, their small domestic appliances, safety gear and humidifiers are licensed products? How about The Wiggles toys, books, games and manchester – they are licensed to leading global manufacturers as licensees.
As a Brand Leader, you may have an iconic brand that could be licensed. When a brand is leased to a third party, the programme becomes the domain of the marketing team to ensure that the treatment of the brand by the third party when connecting with consumers is seamless. This means that a consumer will never know that the engagement was not directly from your own company.
Many brand owners are now learning that there is great money to be made from licensing of brands. Licensing growth can be rapid and sustainable if you take the time to plan and manage. Licensing, when carefully constructed and managed, can be a very lucrative long-term revenue stream. At a fraction of the cost for developing non-core product or service extensions and growing globally, a licensing programme could be your ticket to fast-track growth and profitability.
Want to get ahead of your competitors? Executive Brand Licensing Education for company leaders at Iptium could create a new revenue programme and increase your brand footprint.
To successfully venture into licensing, control of your brand is mandatory. Untapped Agency offers Trademarks Attorney services and is a Licensing Agent for Brand Owners, Licensees, Manufacturers and Retailers. We extend iconic brands, copyright, fashion, designs, innovations and trademarks into innovative, new consumer products, services and promotions.