Today, businesses even in the most niche industries have recognized the value of CRM software. But how helpful is such software in brand licensing and how can licensors benefit from using it on a daily basis? Here, we will provide answers to this questions and relevant insights into the value of CRM system to brand licensing businesses.
Continuing our topic of minimum guarantee practices, we’re explaining the approaches used by licensors and licensees as well as how the parties can come to an agreement and secure its execution.
Minimum guarantee is a standard term which is met pretty much in every licensing agreement. And while the concept of minimum guarantee is nothing new to licensors of all expertise levels, the actual importance of this retainer is frequently misunderstood by many. In this article, we decided to shine a light on the different aspects of minimum guarantees and explain how exactly they matter to both sides in a licensing partnership.
They say the brands that win are the brands that succeed at telling a great story. In the licensing industry, this statement is both an unspoken motto and a competitive advantage for all those who follow it. And while our team’s core mission is providing a software solution for the industry’s players, we simply couldn’t underestimate the power of story. So, here is ours!
Last week our team attended Europe’s (and, possibly, the world’s) greatest licensing show, Brand Licensing Europe, or simply BLE. Looking back, we must say it was an amazing show that impressed the visitors with unique installations, product showcases, and great side events. In this article, we’re giving our honest opinion about the best moments of this year’s BLE and why it has been the best so far.
Europe’s biggest licensing event, BLE will happen just one week from now. Yet, the thrill is already here, or, rather, everywhere in the brand licensing world. Its community is ready to meet each other and discuss the future plans for their unique brands and properties and innovative products. As most of the upcoming BLE meetings have now been booked, it’s time to recall how to maximise the value of these meetings and the BLE attendance in general.
Every year in October, London Olympia turns into a grand European brand licensing show. The time of numerous business meetings and new product demonstrations, the Brand Licensing Expo, or simply BLE, is easy to get lost at, particularly if one doesn’t have a plan. Thus, outlining business targets in advance becomes essential for achieving the desired goals and objectives in licensing. This article collects the approaches frequently used by licensors to maximize the value of their BLE attendance based on their missions.
As BLE is nearing, the licensing industry’s buzz keeps escalating progressively. Europe’s licensing event number one, the expo will provide insights on the unique licensing trends and bring together thousands of licensing professionals to present their remarkable brands, products, and professional services. Excited to attend the expo almost in our entirety this year, our team has discussed what (in our opinion) makes BLE a must-attend event for everyone with at least the slightest interest in the industry’s future.
In a broad range of cases, a professional brand licensing agent may become an indispensable player in the licensing journey. Depending on the needs of a brand, their functions and responsibilities may differ. For licensors to make the right choice of agent support, it’s important to understand what is the value and cost of their support. This is what we will talk about in this article.
Nowadays, retaining consumer loyalty is nothing like an easy task. For the licensing industry, the need for licensors to be more active in matching their offer to the needs of the customers has become more pressing. In this edition, we are covering the best practices for licensors to recognize the changing, or previously hidden, needs of their customers and adjust the licensing strategy of their brands accordingly.
With the innumerable stages of the brand licensing flow, understanding the priority tasks and importance of milestones becomes a major challenge for licensors across all industries. Not being aware of what truly matters for your brand licensing business frequently entails losing royalty revenues and undermining the reputation of your brand. To bring clarity to this matter, we’re listing the landmarks that require special attention in the implementation of licensing programs.
Nowadays, the brand licensing industry is being exposed to a rapid development of technological advancements. Licensors get access to the newest tools that relieve the pains of their everyday routines, such as design approvals, sales validations, and management of digital content. However, as more and more options for the efficient administration of the licensing workflow are available, it’s becoming complicated for licensing teams to make right decisions. Perhaps the most complicated one relates to the choice of a brand licensing software, which, undoubtedly, is the among the most demanded brand licensing tech solutions. This article aims to provide an image of what elements make up a good brand licensing software.
In the world of brand licensing, many consider saturation to be connected to brand’s recognition in the licensing market. Saturation, whether low or high, is a strategic choice brands make in regards to their presence in the market. Unfortunately, many licensors misinterpret the benefits of brand saturation, rushing into extremes and thus financially losing. In this article, we’re exploring the borderline insufficient/excessive presence in licensing and how the healthy ‘golden mean’ can be achieved/
With royalty rates being one of the most complex subjects in brand licensing, there’s only so much that could be covered even in a series of related articles. The ‘big’ picture behind royalty rate choices is not the easiest to understand. Considering different factors affecting royalty rates in brand licensing having different influential powers, an equilibrium in decision-making is rarely achieved. In this article, we continue answering the questions on how to approach the royalty rate choice in brand licensing with utmost pragmatism.
If there’s one thing that is the hardest to understand in brand licensing, it must be the royalty rate matter. There are numerous approaches, practices, and tips that licensors appeal to in attempts to make a smart choice of the royalty rate approach. However, it’s far not easy to understand what matters when making the rate calculation. And it’s no wonder! When preparing to answer this question, we’ve come up with numerous points, which we had to split into an article series. So, in this part, we’ll talk about how royalty rates are influenced by such factors as product and property specification as well as marketing, deductions, and exclusivity matters.
Nowadays, there are numerous product categories, collaboration tools, and practices licensors can choose from when developing their brand licensing strategies. However, as the industry trends change with cosmic speed, it’s becoming harder to stay focused and up-to-date in making long-term licensing plans. What’s more, with the abundance of novelties that constantly replace each other, it’s challenging to make right choices at a particular moment in time. Therefore, many licensing teams find themselves wondering what strategic moves to make, and in which directions. For these teams, we have compiled a list of the most innovative licensing strategies of 2017.
Royalty rates are one of the most challenging topics in brand licensing. It’s common for licensing partners to experience hardships in the negotiation of the right royalty rate and approach. Yet, it isn’t difficult to avoid clutter. The key to resolution is understanding the types of royalty rates that apply to the industry.
Onboarding new licensees into brand licensing projects is one of the toughest mission in the entire licensing workflow. It requires a lot of effort from both brands and licensees and implies huge joint responsibilities. For licensors, the biggest challenge in setting up a collaboration with new partners is introducing them to their businesses. Moreover, many find it difficult to ensure productivity and minimize losses during the onboarding process. Hopefully, there’s a remedy to this problem. Spoiler: it’s following the three steps towards a structured collaboration mentioned in this article.
To every person at least faintly involved in brand licensing, the Licensing Expo in Las Vegas is the most eagerly awaited event of the year. The exhibition lasting for about a week in total brings together the whole licensing society and determines the industry’s direction for a year ahead. But what is the long-term influence that it has on the industry players? This question has been harassing our minds ever since we were on a plane back to Helsinki. After a while of reflecting, we are summarizing the impact that attending this year’s Licensing Week has had on the Flowhaven team and our core philosophy.
Today, retailers are just as important partners for brand owners as licensees. Gone are the times when licensors communicated with retailers through intermediaries. With the rise of retail opportunities, the rules of the licensing game have changed, making it imperative for brands to not only know but also love their retail partners. But what is it that this stakeholder is looking for in licensing deals? We have come up with the main points that retail dealers seek to validate when considering to place a merchandise line on their shelves
In the past, brands considered the retail’s revenue-generating mechanism as a given. Today, they’re revising their relationships with retail partners due to the transformed market environment. The underlying reason of their reconsideration is the changed behavior of the consumers, who, despite their remaining willingness to visit stores, are jaded towards conventional experiences. Smart licensors found the remedy in closer cooperation with retailers and designing of unique retail experiences for visitors. This has given rise to the so-called ‘retailtainment’ trend. In this article, we’re explaining the connection of this trend to the brand licensing industry.
Choosing the right product categories for brand extension is one of the trickiest challenges that licensors encounter in their roles. Unfortunately, many of them make this choice thinking first about the licensing outcome instead of their brands’ values. In this way, many expand their properties, sometimes the best of them, into wrong product categories. Avoiding this mistake isn’t as difficult as it may seem. And the keyword is planning.
They say partnerships in brand licensing are like marriages. Taken the long-lasting nature of licensing programs, this statement is no exaggeration. More often than not, licensees are the closest partners for brand owners. Typically, they also act as the party to bear the greatest degree of responsibility for the success of the licensing venture. Choosing the right licensee is, therefore, a matter of licensors’ primary concern at the start of the licensing journey, which isn’t an easy business in reality. Nevertheless, a clear understanding of the licensing objective and the licensee selection criteria make this mission more than doable. In this article, we have outlined the most important criteria for making the smartest possible choice.
Ever since the first explosion of Mickey Mouse toys, books, and commodities, licensing as an expansion strategy has been actively used by licensors in different industries. The brand licensing industry today is a multi-billion niche, with such giants as Dinsey, Nickelodeon and Warner Bros setting the consumer trends for the decades ahead. Listing of all unique and added values of licensing would qualify for a book. However, we decided to recapitulate the principal arguments to introduce the brands who haven’t previously had any licensing experience to the hidden growth opportunities.
One of the everlasting problems that licensors frequently encounter is the need to maintain control over the financial figures of brand licensing programs. More often than not, the complication stems from the lack of licensors’ understanding of these financials and their priority status in the licensing workflow. This article aims to bring clarity to the situation and outlines the three financial figures brand licensors should continuously monitor.
In the beginning of May, the licensing Industry’s Merchandisers Association hosted the Annual Licensing Essentials Course at Lord’s Cricket Ground in London. This one-day educational event brought the international community of licensing professionals together for a discussion of the most advanced practices in the industry. Our CCO, Timo Olkkola, has had the honour to be the part of the course and is excited to share why this event is an absolute must for pros from different walks of brand licensing.
In about a week’s time, the Mandalay Bay Convention Center in Las Vegas will host one of the biggest events in the brand licensing industry, Licensing Expo 2017. More than 16,000 of industry professionals are expected to attend the event this year, including the Flowhaven team. In the light of our excitement about the licensing week, we decided to outline the key reasons for being among the visitors this year.