31 Days of Marketing Tips for All Art Licensors – Tip #10

10 10 2016

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31 Days of Marketing Tips for All Art Licensors – Tip #9

9 10 2016

31-days-of-marketing-tips-for-all-art-licensors-tip-9





31 Days of Marketing Tips for All Art Licensors – Tip #5

5 10 2016

tip-5





Eight Ways to Develop Your Licensing Lead List

24 08 2016

Whether your licensing interest is focused on art, brands or characters, it is the effort you put into selling that creates your licensing deals. Your greatest sales are achieved when you have a thorough understanding your product (what it is you are trying to license), so that you are able to connect directly to the right audience (most often a manufacturer, retailer or media).

If you are new to licensing, what you first want to do is organize your list of potential product categories and then prioritize them. For your reference, here is a list of product categories and their percentage of licensed merchandise retail sales in the U.S./Canada in 2015, as reported by The Licensing Letter.

SOURCE: THE LICENSING LETTER

SOURCE: THE LICENSING LETTER

Once you have developed a good strategy for your property, in terms of product categories, it will be much easier to direct the growth of your lead list. When looking for prospective manufacturers, there are many opportunities to find them and do research before including them on your list. The more targeted you are in creating your leads, the more manufacturers will respond positively to the opportunities you present.

I hear from manufacturers, over and over again, their number one complaint is that they receive too many presentations that are not relevant to their specific business needs. Do yourself, and the manufacturers you are seeking, a favor by doing your research and targeting your offerings to their business. They will appreciate and recognize your focus, and you will progress faster.

Remember that lead lists are organic in nature; they increase and decrease, again and again, over time. A list of 30 companies may grow to 100, then reduce to 40 leads, as you determine that some of the companies are not, in fact, a match.

Here are eight ways to help you develop your own licensing lead list. Some of them require an investment and others are free, except for your time and effort.

1. Trade Shows — Trade events and their directories exist in every product categories. If you attend a trade show, make sure you bring home the directory or you can ask friends to bring you a copy of the directory from the shows they attend. Sometimes you can even find exhibitor lists, before and after their annual events, on the association and exposition web sites.

Just to see what is out there, I searched the Internet for some of the most popular trade shows in product categories that are important to licensed artists. Within five minutes I found a PDF titled, ‘Exhibitors for the 2016 International Home + Housewares Show.’ This 35-page document included company names, contact information, address, and phone and fax numbers. Needless to say, if you are willing to spend the time, there are always inexpensive ways to get the information you need.

2. Trade Magazines — As you read trade magazines associated with the product categories that you have chosen to target, check out the companies that seem to be a good fit for you and your art, designs, illustrations, brand or characters. Always make notes about their product lines, employees, contact information and licensing deals, so you have the details handy when you are ready to contact them.

3. Shopping — Spend time shopping in retail stores and outlets for the products you want to license. This will be time well spent as you explore manufacturers that are already doing licensing. You will probably also see ‘private label’ products with art and characters; these are the products that don’t readily identify the manufacturer on the product itself. These D-T-R, or Direct-to-Retail, products are often branded under the retail establishment’s label (i.e. Target’s or Walmart’s instore brands) and it may be difficult to find out who manufactured them. There are more and more of these D-T-R’s deals being done every day as stores work harder to have unique product in stores. To identify these manufacturers, it may require a licensing industry agent, retail expert or a professionally compiled lead list.

4. Use the Internet — The Internet continues to be the primary source for researching manufacturers. Although, these days, larger companies are less likely to list their phone numbers and email addresses on their websites, you can still often find the information you want with a little extra effort. And when you get frustrated, just think about how we used to do it before the Internet. I also recommend connecting on LinkedIn with the executives you are trying to reach. Most professionals will consider ‘linking’ to you, since you are in the business, and then you can start a conversation.

5. Networking — Again, thank goodness for the Internet and social media! Now you can talk to other licensed artists and creators through the many specialized social groups on Facebook, Twitter, LinkedIn, and Pinterest, as well as at industry events and trade shows. Networking can become a primary source of ideas and leads. If you are open about sharing your connections, then others will do the same.

6. Ask for Recommendations — If a manufacturer doesn’t think you are a good fit for them, ask them what manufacturers they would recommend you talk to (and get the contact information). This is a really overlooked technique that allows you to tap into the brainpower of the manufacturers who know the business best. If you were thoughtful in your presentation, and had relevant reasons why you felt they would be interested, then you didn’t waste their time and the manufacturer may be very open to sharing their thoughts about other licensing partner options.

If you are short on time and have the money to invest, you may want to consider one of the following licensing industry directories.

7. EPM Communications — The Licensing Letter Sourcebook is annually updated to include licensing decision-makers from manufacturing companies, as well as properties, agents, attorneys and consultants. So while it is not an inexpensive resource, and you may use only a fraction of the information, I have found it to be the most reliable in the licensing industry. In the long run, it will save you valuable time and money in getting names, phone numbers and email addresses.

EPM has just announced that their updated 2016 Sourcebook is available. It includes the contact information for more 7,400 licensing professionals worldwide, 2,000 licensors, 3,600 manufacturers, 1,000 licensing agents and 730 attorneys and industry consultants. If you want more information you can contact Randy Cochran at randy@plainlanguagemedia.com and here is a link for more details.

8. Total Guide to the Licensing World — There is a new, less expensive, online database which will be available in October. According to Joanna Cassidy from Total Licensing, their database will include over 2,600 licensees/manufacturers. This is a worldwide licensing industry database with contacts in more than 90 countries, but approximately 30% of the contacts are in the United States. The annual subscription cost will be just under $200 for full access to the Total Guide Guide to the Licensing World. The directory includes 125 word listings, plus all contact information and social media links. If you are interesting in being included in the dirtectory you can email joanna@totallicensing.com or click here for more details.

There are quite a few options for building your lead lists. It really boils down to whether or not you want to spend your time, money or both. I can’t emphasize enough that even having a terrific lead list isn’t enough to get you deals; you have to finely target your list, learn from the manufacturer responses, continually update your list and last, but not least, spend time actually sending the presentations out and following up!





Fall is Here; Time to Prepare for New Growth

17 09 2015

fall-downFall is a profound time of year for me.  While the leaves of the trees are dying, in reality I know that it is simply preparing itself for renewal. I find the falling leaves a comforting and productive movement.  It feels right to clean out the cobwebs and clutter of our lives and thoughts and shed the old as we get ready for growth. So I went on the internet to look for quotes which express this inherent inspiration.  What I found was a Japanese proverb, not exactly related to autumn, but inspiring, nonetheless. The proverb is: Fall down seven times stand up eight.

So, if it feels like fall is here and you are ready for something new, but aren’t quite sure where to find it, I collected and put together these guiding principles to help you with your endeavors. These will guarantee you make the most of September through November, traditionally a very productive time period, before enjoying the holidays.  I strongly recommend you take advantage of this advice, or before you know it, Christmas and then the New Year will be here (…I mean didn’t summer just fly by? And here it is mid-September already).

Take just a few minutes and review these tips and then answer each ‘biz question,’ as honestly as possible and apply the principles directly to your business.  I am quite sure many or all of them will hit a nerve and create a new connection.

  1. Attitude is everything. – Your frame of mind affects every action (and inaction). Don’t let you’re your moods control your life, or you will be overtaken by the current and forced down stream to a destination you never intended. Only your inner force and self-determination can keep you on track and get you to your ultimate goals.
    Biz question: Is there anything I need to change about my attitude, perspective or life to improve my business? If so, what?
  1. Stay focused on your goals. – It takes belief and a strong desire to concentrate on the changes necessary to achieve success. If your goals are clear, then it is easier to stay focused.  So begin by clarifying your goals before you get so frustrated you can’t or won’t take action.  If you are unsure of the process, or the next steps required, then seek the advice you need.
    Biz question: Do you have clear and measurable goals for your business and specifically for this fall time frame?
  1. Spend time wisely. – Time, unlike money, is something that you can’t get back. So every day you want to be as fully present as possible in each task you do, as well as choose those activities with care. Make sure your time and efforts are contributing to the wonderful aspects of your life, relationships and business endeavors.  The worst thing you can do is to spend your time on auto-pilot.  There is very little joy (or productivity, for that matter) in it.
    Biz question: How can I spend my time right now to get the best results for my business, both now and in the future?
  1. Be open-minded. – You never know where the next inspiration, great idea or deal will come from. To be open-minded you need to find ways to stay mindful and aware. Take the time to explore new activities and people and be open to new influences and experiences. A closed mind, frankly, has nowhere to go.
    Biz question: Are you open-minded to the fact that you might not know where the next awesome idea, opportunity or contribution to your business may come from?Picture2
  1. Pick a path. – There are many pathways leading to your ultimate goals. But to get anywhere you need to pick one and stick with it long enough to get there.  Then along that path, there will be many obstacles of varying degrees and nature which require decisions.  One time you may feel that breaking that obstacle down, bit-by-bit, is the right answer.  In another case, going around it works fine.  And sometimes you even have to find a new path. My father used to jokingly say, “You can’t get there from here, you have to start someplace else.”  And often that’s true. If the path dead ends or goes off course, then you MUST find a new way to achieve your goals.
    Biz question: What’s keeping you from achieving your goals?  Can you identify the top five reasons in priority order?
  1. Read between the lines. – Whether you are enjoying this blog, having coffee with friends or meeting with business professionals, reading between the lines is an imperative skill. Always go deeper than the surface. What do you need to learn, know or understand about what’s happening to get the most from the experience? Everything is happening for a reason and seeking the essence and purpose of the moment may be exactly what you should be doing to find the wisdom you need.
    Biz question: Can you look beyond the obvious tasks throughout your day and find the non-apparent insights that provide guidance for your business?
  1. Never lose hope. – Hope is the energy that drives all ambition and motivation. It is an essential element in all our endeavors and losing hope is like losing your engine. You must constantly be on guard against the negative emotions that deplete hope and eventually will prevent you from succeeding. No matter what the challenge; don’t  give up.
    Biz question: Can you identify your hope and how it powers your progress in business?  If hope is waning, what can you do to refuel?
  1. Create awesome habits. – What you do today and every day will become the habits of tomorrow. It’s important to choose actions that create the right habits. Discipline yourself to create the specific habits that you need to grow.
    Biz question: What business habits would you like to create or improve upon that will help achieve your goals? (You might want to read or revisit my blog titled: “An Art Licensor’s Continuing Education” to help you think about the wide variety of topics and skills needed to build a licensing business.)







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