Once we’ve executed a thoughtful licensing strategy and connected you with the perfect licensee via our solicitation services, we don’t ghost. We’re in it for the long haul, with conviction. We’re deeply passionate about our licensing programs and the value we bring to our clients by managing these programs with keen attention to detail and a relationship-driven approach. How do we do it? Let’s dive in.
We begin by scheduling kick-off meetings with all relevant licensor and licensee contacts. In a non-COVID-19 environment, it is important to IMC that these meetings take place in person. We passionately believe licensing programs should be built and fostered with a relationship-focused approach. This in-person meeting allows for our licensor and licensee respective functional contacts to get to know one another, and this often leads to great collaborative thinking about the partnership.
During this meeting, we review the licensor’s product quality requirements, product approval process, product launch timelines, and any other relevant expectations for the program. In many cases, these are not new topics for either party, but its good to refresh licensor and licensee on the expectations.
After kick-off, IMC works with the licensee through the product development/approval process. We’ve seen varying degrees of product approval processes and view it as our responsibility to guide the licensee through the licensor’s process. This can include product concept approvals, coordinating licensee factory audits, technical product testing, and packaging approvals. In this role, we act as a project manager to ensure both licensor and licensee are sticking to the product launch timeline and meeting key dates, such as first production, retail meetings/product sell-in, and first ship dates.
Our job isn’t complete once the licensed product is commercialized to the retail shelf. As we mentioned, we’re in this relationship for the long-haul and continue to meet with licensees regularly to ensure we’re maximizing the partnership’s potential. We push licensees for marketing plans and coordinate collaborations with the Brand. We monitor retail placement and sales growth and manage quarterly royalty accounting. We manage updates to the program, from product extensions to packaging changes, and continue to monitor product quality and consumer complaints/inquiries.
It’s important to us that we’re not a gatekeeper to the licensor / Brand team. We robustly manage our licensing programs and work as a team with the licensor and licensee. We encourage annual in-person meetings to bring all parties together to connect and collaborate.
At IMC, people and partnerships are pillars of our agency. Whether we are working with you from the start of our service model or jumping in at the project management phase, we establish a foundation built on trust and strong client relationships. Long story short — IMC will always have your back.
Interested in our services? Let’s talk! Connect with us here.