It’s not always the best IP that gets the most licensees…it’s the best promoted. A big part of finding licensees is getting the word out about your IP. You have to reach out if you want to connect with licensing partners.
One of the fastest ways to get the word out is online PR distribution sites. It’s an easy, no-cost strategy you can start using right now.
Let me share an example from the entertainment industry of what PR can do for your IP. Kids’ entertainment properties are very competitive, and no one knows what will be a hit. In one case, while I was at the studios, a competitive kids TV show was up against the trendy kids show I was licensing. They continuously released “news” about the show – when it was launching, what it was about, new licensees signed… anything happening with that property.
The PR article was picked up in trade and licensing magazines, creating a licensing buzz. Because manufacturers were constantly hearing about the property, they got a lot of interest, and the PR helped them get dozens of licensees.
You can do the same thing. There are many free and low-cost PR services you can use to distribute your IP news releases. Most of the sites provide templates to create your PR release. Just follow the template and plugin your information.
A couple of the best free sites are PR.com and PRurgent.com. Create a series of updates and announcements about your IP, and distribute them weekly. Be sure to include a link to a licensing-specific landing page on your website featuring photos, descriptions, and video of your IP.
Remember, the trick is to communicate continuously with your potential licensing partners. You’re creating a duologue—Dole out your IP licensing information in small intriguing bits and pieces. Give potential partners a reason to contact you. The more you keep the PR dialog going, the more likely you’ll find a licensing partner.
