Defining Your Business Targets For BLE
Brand Licensing Europe expo, known as BLE, is one of the busiest periods for the whole industry of brand licensing. Speaking of European brand licensing particularly, it's the ultimate event where the majority of trends are revealed, and numerous deals are signed accordingly with these trends. Perhaps the hardest task for licensing stakeholders in the expo season is remaining efficient and moving confidently towards the achievement of their business targets.
But how does one define those business targets, to begin with? To a large degree, it requires thorough planning of brand’s licensing perspective months in advance. Besides, licensors need to recognize the objectives to meet at the expo to prepare their long-term licensing strategies. All this predetermines one, or a few, meeting approaches that a brand will use at BLE. Which is what we’re going to talk about in this article!
Reuniting with existing partners
One way of strategic BLE targeting is to concentrate on reuniting with existing licensees, agents, and other licensing partners. In this scenario, it becomes all about nurturing and reinforcing the existing partnerships, discussing future plans and validating whether the current licensing programs can be improved. It’s a beneficial practice to consider possible changes in those programs before meeting with partners at the expo.
On the other hand, a brand may wish to discuss the possibility to launch brand new licensing programs with some of their long-term and trustworthy partners. BLE is a great time to discuss those opportunities and prospective plan of action. The return against the cost of attendance can be challenging to calculate. However, the perspective of turnover increase from the insights gained at the expo seems like a good basis to carry these costs.
Searching for new collaborations
Furthermore, a brand may want to focus more on landing potential partnership opportunities with yet unfamiliar agencies or licensees. For that, licensors should first establish their target partnership based on their licensing preferences. Their choice should ideally cover all the essential criteria. Those include the desired licensing territory, product range offered by the licensee, established distribution channels, and the commercial terms.
BLE is also ideal for acquainting with and introducing new potential prospects to a brand’s licensing business. The matchmaking function, available for every attendee regardless of their position, makes such introductions especially effortless for both parties. With the simplicity of pre-booked meetings, both parties know what to expect from each other. And this is largely because they get to grasp a basic idea of the meeting agenda in advance.
Pushing consumer awareness
Additionally, a brand’s key goal is to plant the seed of a higher consumer awareness. To achieve this, a brand may first seek to gain “business” publicity, i.e. land partnerships with media and PR organizations. While this won’t result in an instant increase in licensing sales, it’ll give a brand a certain “publicity boost” and ensure an improved recognizability in the future.
Seeking for tech insights
Likewise, a brand may be mulling over the opportunity to finally pick up a solution that’d end their licensing chaos. BLE is the place where the latest tech novelties in the industry are showcased. Thus, the range of options is wide enough for every brand to find one to their taste.
If your IP management goals are the flexible administration of the financial and creative sides of licensing and smooth onboarding process, we'll be happy to showcase how we have integrated these key functions (and more) in our brand licensing system. Drop me a line at firstname.lastname@example.org and we'll find the time suiting you best for a meeting at BLE.