10 Nov Find Your Brand – Increase Your Sales
You want to sell – so do brand owners. The solution?
The perfect union between manufacturers, retailers, and brand owners. Let us explain:
You make a great product, but aren’t seeing the turnover in stock you expected. Labeling merchandise “New” and “Certified” not only isn’t working, it seems to be turning off the client base you were hoping to attract. The Millennial Marketplace sees certain buzz words – and become skeptical.
Reaching your target consumers can seem daunting among a sea of competitors.
Yes, consumers have certain brands they already associate with terms like “stylish”, “comfortable”, and more importantly “reliable”. Through years of providing great experiences and building a consumer base, these brands have secured their place in the market.
So how can you compete?
The simple answer is: You don’t have to. Instead, you can simply borrow some of the trust those secure brands hold through licensing. Legally labeling your product with the marks of an established brand is today’s most effective marketing tool.
Here’s how it works:
Brand owners have already earned the trust & loyalty of customers all over the world. Customers in turn associate these brands with all their desired values. The thing is that the loyalty and desire extends into product categories the brand currently doesn’t offer. This leftover value is called “untapped brand equity”, and it’s usually just waiting for a business to put it to good use.
Create a win – win – win situation.
While you connect with the market in a deep and meaningful way, you’ll also secure an exclusive advantage over other producers/ sellers through licensing from a well established brand.
The Brand, in turn, sees a return on the value they worked so hard to create, extends their reach, and is able to realize new lines of revenue – with no added costs.
Consumers gain new merchandise endorsed by their favorite brands – opening a whole new world of brand loyalty.
In truth; brand owners, manufacturers, and retailers have only just begun to realize all the creative ways in which licensing can grow their business. Opening the doors to new ways to market products and brands, licensing is the best way to realize the full value of brand equity.
Network, Network, Network.
You need to build your company a licensing brand base. Here are our suggestions on how to do it:
- Visit local and national level trade shows. Meet the people with the brands, and learn from the companies licensing from them.
- Check out social media. Follow the brands you like, and interact with them online.
- Cold calling/ emailing – it may seem old fashioned, but nothing says “I’m seriously interested” like a direct “hello”.
- Be open to brands that approach you. It may not be the brand you expected, but it may be something you can build upon.
- Have a plan for your product and the direction you will take the brand – it is always good to be prepared.
- Work with existing connection – 6 degrees of separation can help you build upon the people you know to reach the brand you want.
- ALWAYS ask for a business card. No matter where you meet, a business card gives you a direct link to that person and their company – just make sure to follow up.
Building your product can take time and effort. Consider licensing as your way to establish your presence in the market – while providing a valuable service to the brand owner.