It’s a new world and the platforms, cultures and terminology we use and experience change daily. We used to watch television advertising and listen to the radio but we now turn to Facebook, Twitter, Instagram and Snapchat to see what is happening on the topics that we are actually interested in.
How Marketing & Advertising have Changed
We used to see what was fed to us through many marketing channels, but in 2016 we are ultimately in charge of what we see. If we don’t like something in our news feed we can simply unfollow, which creates many challenges for marketers the world over. Better yet, often we don’t even see what we don’t want to see because we don’t follow people or brands that we have no interest in seeing in the first place!
There is a YouTube video with Gary Vaynerchuk (Entrepreneur) that is worth listening to where he is talking about how Credit Unions need to market in new ways (social media) to their customers, which you can see here. It is worth watching because it helps to explain the new challenges we face from a marketing perspective in 2016.
What it means for Licensing Companies
These trends have now made it a ‘must’ for licensing companies to market in new ways across many new channels to a new generation of internet-savvy consumers. This trend has lead to new terminology being introduced and where strategies are concerned, we are seeing so many new ‘catchphrases’ being introduced to us that it can be hard to keep up-to-date and understand what they all mean!
This new marketing jargon is based on the need to develop strategies that cover all the ‘new’ marketing platforms and offer promotions to consumers through all these ‘new’ channels. People have asked about this new terminology, so I have created a list where I will endeavour to translate these and better assist you in understanding what it is that they actually mean.
The New Licensing Catchphrases
A robust 360 HALO strategy including all touch-points
A comprehensive strategy building on the initial success of a brand and making sure to cover all platforms (film, television, gaming, consumer products & social media)
A cookie cutter approach to licensing
A traditional strategy is used for a licensing program. For example, you would launch a television series or film and then introduce the Consumer Products program later
A four quadrant brand with an all audience appeal
The brand appeals to Mum, Dad, Brother & Sister
A 365 brand that lives within our ecosystem
An evergreen brand within the brand portfolio
A fully merchandisable property
A brand that can be licensed in all Consumer Products categories
This is a cradle to grave brand
The brand appeals to all age groups
The Cinematic Universe
The world that exists inside a film
I hope that you found the above translations useful and these help you to better understand the modern-day licensing terminology. If you think any of these are incorrect or need further clarification, please head over to our Facebook page and tell us in the comments!