Brand licensing is one of the lesser known techniques for extending a brand into new categories. The benefits of brand licensing are extensive and include:
- Building brand presence by getting product to market faster with little to no investment or inventory risk.
- Accelerating the ability to gain additional shelf space or enter into new channels or regions.
- Delivering valuable and steady royalty revenue increasing cash flow and operating income.
The Blake Project offers a one-day workshop that is designed to deliver a detailed blueprint on how to launch a brand licensing program, enabling participants to take a significant step towards harnessing the power of brand licensing. In this highly facilitated workshop, you will learn:
- Why companies license their brands and what the pros and cons are of managing it in-house
- Who is needed on a brand licensing team and their roles & responsibilities
- Who the internal and external organizations are that interact with the brand licensing team and what their roles and responsibilities are
- What the brand licensing process is and how is it optimized within an organization
- Where the brand licensing should reside within the organization and what resources are needed to build a best-in-class program
- How to launch a brand licensing program and what needs to get accomplished in the first 90 days
- How to identify and hire the right team members
- Where to locate the best external resources
- What is the best way to integrate brand licensing into the existing organization
- Who should approve brand licensing deals
We generally plan for attendance by 6 to 10 key organization stakeholders, including the organization’s leadership. Departments best suited to attend all or part of the workshop include marketing, product development, R&D, legal, finance, risk management and business development.
To maximize the effectiveness of the workshop, we ask participants to complete a pre-work questionnaire and provide any supporting documentation. The pre-work is designed to illuminate the following areas:
- What brands are being considered for licensing
- What is the approval process for key strategic initiatives
- What is the organizational structure of the company
- What is the timeline for launching the brand licensing program
We include educational components throughout the day so that all participants are speaking a common language. For instance, we make sure people share a common definition of a brand is and its components. We also make sure that people are clear on the brand licensing concept, its benefits and the process for brand licensing success.
The deliverable is an executive summary on how to launch your brand licensing program.
Throughout the workshop we will work with the team to ensure that there is a clear understanding of how brand licensing can help your company meet its business objectives. We will recommend ways for the organization to work together to maximize the value of the brand licensing program so that it becomes an integral part of a go to business strategy.