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"Isn't that cute," I thought to myself. "Shrek's clever marketers put their message on a General Mills box of cereal." As I was thinking about my recent discovery, I took a few more steps and saw Shrek on a box of breakfast bars. Now that my fascination was up, I began to notice Shrek on virtually all the aisles -- Shrek was everywhere! Next I wondered, "Who is shelling out money to who?"
In almost all cases the company with the product desires the license so they can take advantage of the temporary popularity of some super event�like a movie. Some companies such as John Deere, in contrast, are long-term companies. John Deere signifies the core of American family values and possesses a whole division committed to getting the John Deere name to appear all over the place. They license the use of their brand name for toys, games, tools and clothes. Many times, they co-venture the undertaking.
Although many big, established companies have the ability to set up gigantic licensing projects, small companies could never pull something that big off. So "How do we go about using large business marketing tactics in a small enterprise?" Use the following four ideas to put your brand name out there:
Obtain affiliates that will refer you � Do you currently provide a referral program? If your business is concentrating on providing a component of the value chain for several companies, it is probable that lots of people will happily refer business to you, particularly if it strengthens your partner's product or service. Referral fees vary from a few dollars, to as much as 20 percent of the sale. Although, 10 percent is the standard for most companies.
Allow companies to license and sell your products as their own � Again, if your offering adds a valuable component to the value chain, you will be able to permit other businesses to sell your merchandise as their own. One illustration of providing a part to the value chain is when a business provides ball bearings to auto manufacturers. Share a fee between 10-75% of the sale price depending on the type of merchandise you provide.
Share supportive products with your brand on them � If you provide one product that is beneficial to someone else's customer base, you can sell your product to the partner business' customers. For instance, one of our clients offered a training CD created by an herbal supplement company as a present to patrons of their health food shop.
Co-Brand new products � Develop products and services together with businesses in your value chain. For example, if you are a patent lawyer, develop an informational product about intellectual property rights that can be distributed by contract manufacturers. Companies who create shampoo for animals could co-produce a specialized product with a busy veterinary clinic.
How can a emerging company market their products the way a booming business does? Be a Shrek. Get your brand visible everywhere possible. Seek for opportunities to put your name on things. Profile your customers. Know where they hang out. Be aware of what they purchase and the places they shop. Find a way to stick your brand name on their shelves. Make deals and share the earnings. In the end, you'll bring in a ton more money and noticeably improve your business.
NOTE: Use of this article requires links to be intact.
Category: BrandingThe Power of Licensing was written by:Author:Jesse FisherAdded: Fri, 22 Jun 2007 21:35:10 -0400 This Article Has Been Read 243 times View all Jesse Fisher's articlesAbout the Author: Author Jesse Fisher likes composing articles for his clients including Transamerican Medical, a business that resells Philips Medical equipment and parts. See also the Imaging Centers; online directory. (You may republish this article online IF all links are kept intact.) |
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