There’s so much more to brand licensing than just getting your logo on a sweatshirt or a can. An effective brand licensing campaign can be a way to expand your customer base, gain brand recognition, or even court new customers and prospects. So what does account-based marketing have to do with all that? More than you might think.
But let’s not get ahead of ourselves. First, let’s talk about what brand licensing and account-based marketing (ABM) really are.
Where one company gives another permission to use their brand logo, brand identity, or other brand-specific identifiers in return for a royalty fee or other pre-determined exchange. It’s a great way for brands to increase their overall awareness, or even convert new business.
Examples of brand licensing are co-branded marketing campaigns that promote both brands, loyalty programs like an airline-specific Amex card, character and entertainment like a Disney-branded Swatch watch, and of course fashion collaborations.
A strategy that focuses on targeting specific accounts or companies with personalized marketing campaigns. ABM can be an effective way to leverage your brand licensing program, as it allows you to tailor your marketing efforts to the specific needs and interests of your target accounts.
If you were to mix some good account-based marketing magic in with strategic brand licensing, well, the results will speak for themselves.
There’s a little bit of the proverbial ‘chicken or the egg’ here, but basically, you can apply ABM to existing brand licensing agreements to reach specific audiences or achieve specific goals, or you can use an ABM strategy to come up with, and subsequently target, new brand licensing partners. Either way, they pair well together like fine wine and delicious cheese.
Putting the metaphors aside for a moment, what can really happen here is a focused and attention-grabbing brand licensing campaign that is quite literally designed for success.
Let’s look at a hypothetical together:
Pretend you’re a fishing rod brand and you’re trying to lure in (pun intended) tackle box and cooler makers for a brand licensing agreement. With ABM, we could help you create a campaign with targeted messaging and customized content and outreach that will result in greater overall ROI, and more effective brand licensing partners.
No two key accounts are exactly alike. With ABM, we can identify and target accounts that would be a good fit for your brand licensing program. Once identified, we could create customized content for those accounts to promote the business advantages of a licensing agreement.
Not every brand licensing agreement has to look the same either. ABM offers the opportunity to strategically diversify content across multiple verticals - like whitepapers, case studies, and more - that speak to the effectiveness of the licensing agreement with regard to KPIs and other positive outcomes.
Getting in the door means knowing how to speak your target account’s language. With ABM, you can personalize your comms to specific accounts through email, social media, and more. That can translate into higher engagement and conversion rates.
Brand licensing can sometimes be a hard sell, but with ABM you can streamline marketing efforts by tailoring your messaging and outreach on a per-account basis. This tailoring betters your chances at an effective partnership and improves overall ROI.
Overall, ABM and brand licensing are a powerful combination that can be used to achieve a variety of marketing and business goals. By understanding the unique benefits of each strategy, companies can develop effective marketing programs that drive results.