Well Blog posts are really stories and this post is about the best story sometimes never told by branded businesses.
I work with a lot of clients and prospective clients who are new to the world of Brand Licensing and very often I see Brand owners going out to shop their Brands to prospective business partners, licensees or licensing agencies with no real story to tell.
What happens all too frequently is the brand owner just assumes that the prospective brand partner has heard of their Brand and knows its equity and just how strong that equity can be when extended into new categories or relationships. It is an assumption that is borne out being paid to be your Brand’s greatest champion day in and day out in your company. Unfortunately, it leads great Brand Managers to start to sell their Licensing program or brand with no real story to tell at all. The thinking is: “I recognize my Brand is great and has been real successful in the marketplace so others will as well.”
This thinking only torpedoes what could be great branded business partnerships before they ever have a chance to get started. Don’t fool prey to this syndrome. Start your brand licensing effort by working hard to pull together your Brand’s best selling story. Talk about its rich history. Present independent research that demonstrates your brand’s awareness, its equities, its strength and its extendibility. Pen your story as though you are selling to someone who has NEVER heard of your Brand and sell them hard on why your Brand is right for their program. Spend time talking about your Brand’s retail reach, depth and breadth. Provide examples of how & why your Brand is ripe to enter certain product categories. In essence, leave your initial meetings with prospective partners or licensees knowing that you told your Best Brand Story for that is the surest way for everyone to see the value of your brand as an extendable asset. Don’t assume others will see the value of your Brand; prove it to them with a well-researched and well-designed Brand Selling Story.
Often Brand Managers or Licensing Directors are too close to their Brands to be able to look at their Brand’s value objectively and then put together a competent Brand Story to prove it. If you are struggling with this, then I suggest you get help. There are many consultants in the brand licensing industry like my firm, Brandar Consulting, LLC, that can help you get your Brand Selling Story right and provide a strong start to your Brand Licensing or Extension Program.
You often only get one crack at selling your Brand to a prospective partner or licensee. Don’t waste that opportunity; tell your Best Brand Story right out of the gates.
