Success in brand licensing requires a long-term orientation, measurement and accountability. Whether developing a large program or a single new license, these tenets are critical.
Companies that prioritize speed or royalty revenue can compromise long-term ROI. Aggressive, revenue driven objectives can conflict with developing sustainable licensed products.
Measurement is another important element. Lagging indicators often include sales and royalty payments. Leading indicators such as advertising and promotion should also be used to plan and manage product lines.lines.
The roles, responsibilities and accountability of all parties should be clearly defined. Aligning the interests of all can help protect the brand and increase long-term value.