Brand Licensing in 2024
Tomas Geerkens
Enabling CFOs & Licensing Teams to Drive Revenue 🤝 | IP Growth through Scalable Compliance & Royalty Audits that Build Trust 📈 | 10+ Years in Global License Compliance
Welcome to the latest edition of The Compliance Chronicle, where we explore the transformative trends in compliance and licensing. Let's dive into the key trends reshaping the industry:
🤝 Embracing Emotional Connections in Brand Licensing
In the realm of emotional engagement, Super Bowl ads from 2024 set a new benchmark. Volkswagen ‘An American Love Story’ touched hearts with its nostalgic journey through U.S. pop culture, celebrating 75 years of iconic cars like the Beetle and the Minibus. Verizon ‘Can’t Be Broken’ cleverly combined humor and star power with Beyoncé challenging the network's limits, while cerave ‘Michael CeraVe’ used viral humor and celebrity intrigue to highlight product quality. These ads exemplify how brands can forge deep emotional connections, leveraging the Super Bowl's vast audience to evoke feelings that resonate long after the game, enhancing brand loyalty and engagement.
📊 Leveraging Data-Driven Insights for Strategic Licensing
According to McKinsey & Company , the power of customer analytics cannot be overstated. Brands heavily utilizing analytics are 23 times more likely to outdo competitors in acquiring new customers and 19 times more likely to achieve superior profitability. Data-driven strategies enable precise targeting and customization, enhancing consumer engagement.
🌉 Collaboration Over Competition: The Power of Co-Branding
Strategic co-branding partnerships are unlocking new vistas for innovation and market expansion. The adrenaline-packed GoPro & Red Bull collaboration, the trendsetting fashion alliance between Rachel Comey , Victor Glemaud, Sandy Liang, Nili Lotan New York & Target , and the Joybird & Sherwin-Williams partnership exemplify how synergy can captivate the market and broaden consumer appeal.
🤖 AI and Licensing: A Future of Innovation
The integration of AI in licensing is setting the stage for a revolution. From Warner Bros. Entertainment 's engaging Alexa-enabled programs to Mattel, Inc. and Forever 21 AI-assisted design processes, AI is redefining creativity and consumer interaction in licensing. This trend points towards a future where personalization and innovation lead the way.
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🔍 A Note on Compliance and Royalty Audits from Connor
In this evolving landscape, ensuring compliance and conducting thorough royalty audits are more important than ever. At Connor , we excel in maximizing your IP revenue through strategic compliance solutions and detailed royalty audits, protecting and enhancing the value of your intellectual property.
Unlock the Benefits with Connor 🚀
Navigating the ever-evolving landscape of brand licensing and compliance can be complex. By partnering with Connor, you unlock a suite of benefits designed to elevate your brand and safeguard your intellectual property, from Royalty audits to Automated Software Solutions that are tailored to address low-reporters cost-effectively.
Let’s connect and transform your approach to brand licensing together.
tomas@connor-consulting.com
Sources:
Enabling CFOs & Licensing Teams to Drive Revenue 🤝 | IP Growth through Scalable Compliance & Royalty Audits that Build Trust 📈 | 10+ Years in Global License Compliance
10moLooking forward to exploring these trends further and seeing their impact unfold. Stay tuned for more! #ComplianceChronicle