Character brand licensing is a smart cross-marketing strategy to grow your business or brand.
You have seen it everywhere, everyone’s favorite, Mickey Mouse on cosmetic products. Hello Kitty on your fave sportswear. This is brand licensing, where a manufacturer, puts a recognized brand name onto their products to gain more attention for their products, drive sales or explore new possible markets.
According to LIMA, the Licensing Industry Merchandisers’ Association, character-based products Character & Entertainment continues to be the top property type, accounting for $121.53 billion in retail sales, a 44.7% share of the market.
So where do I start?
Finding the synergy of both markets – It has to make sense.
Researching to find the correct match is important. The first is that the characters must resonate well with your customer demographic. You want both brands to share the same values and have demographics that are overlapped. If you are doing an education product for school-children, will you slap Rick and Morty on it?
For example, you’re a licensee, You have a great product, maybe a backpack for pre-school children, it looks great and importantly it has great ergonomic benefit but they still seem generic. A quick way to grow the overall product and business awareness are you can leverage on an existing popular cartoon character (Paw Patrol) that appeals to your target demographic to gain awareness of your new product.
Paw Patrol focuses on a young boy named Ryder, a 10-year-old boy who leads a crew of search and rescue dogs that call themselves the Paw Patrol. Each puppy is also equipped with backpacks called “pup packs” that contain tools that relate to the pups’ jobs. In every episode, the pups jump into transforming vehicles to protect the shoreside community of Adventure Bay.
Can you see the synergy between your backpack and Paw Patrol? Because every young fan of the series will want to have their own “pup packs” to go on an adventure with their favorite pups. Your backpack will fit in nicely to cater to this demand.
Therefore understanding your customers and the licensor’s character story and demographic appeals are important.
Are you interested to explore Character Licensing for your Business?
7 Steps Productions not only work with our character IPs but we also work with other local upcoming and popular character IPs. We help businesses find the right fit for their products and brand.