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Teamwork is the name of this game. That’s the essence of Bill Cross’
message to independent creatives interested in providing services to
companies in the licensing industry.
Bill, a former S.W.A.N. board member, returned to the fold for a night
on January 14 to share insights on opportunities in the licensing trade
drawn from his experience as vice president of Broad Street Licensing
Group. Starting with the basics, he defined licensing as a transfer of
equity that occurs when something with value as intellectual property is
rented to someone else who uses it to make a profit. Because of the
importance of recognized value in that equation, Bill made clear that
licensing one’s own work was not to be the main subject of his remarks
to our group.
Based in Upper Montclair, his firm develops strategic, long-term brand
partnerships and innovative licensing programs. Of course Broad Street
also sells its own services and looks for talented people to help create
effective campaigns for both its own account and its clients. From
Bill’s first-hand perspective, that need represents the best
opportunities for NJ Creatives to tap into the lucrative licensing
industry.
Broad Street specializes in corporate licensing of brand names. Here’s
how it works. The firm finds and contracts with manufacturers to make
products using those names. For example, the Pepsi logo might be
licensed for a “rental fee” to a tee-shirt company. Or the Cutty Sark
name might end up—far removed from its mainline business—on sausages and
chocolates. Other firms specialize in licensing performers, athletes and
entertainers. Whether borrowing somebody’s fame or trading on a brand
name, successful pairings hinge on prompting the “oh, yeah” reaction
from consumers, Bill explained.
After displaying several boards created by Broad Street to pitch its
services for licensing the Snuggles brand name, Bill offered practical
advice for marketing creative services for similar projects:
1. Licensing Show – Use the show, walk the floor. Ask who needs artists,
copywriters. Register online by the deadline for free admission. Don’t
go the first day of the show, which is “insane.” Exhibitors are more
willing to talk later in the week—Thursday is usually very quiet and a
good time to talk.
2. Licensing Industry Merchandisers’ Association (LIMA) – Use this trade
organization to find licensing agents and get on LIMA’s list of service
providers. (Visit the Support Services section of the website at
www.licensing.org)
3. License! Magazine – (http://home.san.rr.com/bobsprototype/index.html)
Check out reports on licensing deals for more leads on who might need
your help.
4. Teamwork – This is where the real opportunity lies, Bill tells us. He
encourages writers, designers, illustrators, web experts to band
together as appropriate to propose services, show samples and price as a
unit. Broad Street and other licensing companies typically need fast
turnaround for storyboards, brochures, websites—all communications to or
for a client. Bill made clear that those companies have neither the time
nor the interest to piece together project teams.
In short, Bill tells us that one-stop shopping is what licensing firms
want when they need creative services. And teaming up to present a
“virtual graphics or marketing house” is the way for solo artists
collectively to compete and make money in the fast-paced licensing
arena. # # # |
