10 March 2015
Crossover Licensing: A Win-Win Online/Offline Opportunity for Retailers
With many traditional retailers facing increased competition from online vendors and the growing phenomenon of ‘showrooming’ (consumers browsing goods in a bricks and mortar environment before purchasing the same goods from a cheaper-priced e-tailer), a number of companies have looked to establishing crossover promotion projects with licensed brands as a way forward. While novelty, surprises and a personalised in-store experience can be essential when it comes to attracting customers, retailers can also use online resources to promote offline retail traffic. Ideally, they can look to the maximize exposure of their promotion by tying in with the online strategy of a designated brand in order to create a mutually beneficial outcome.
Speaking at the recent Asian Licensing Conference, Marta Ballesteros, Licensing Area Manager of Perfetti Van Melle (Chupa Chups), outlined how her company had extended a number of its licensing projects in order to work more effectively with several shopping malls and fashion brands.
Overall, Ballesteros identified six key elements as vital for securing the success of any such initiative:
Carefully select your partner
It is important to work with a retailer aligned with the positioning of your brand and one highly motivated towards the success of the project.
Stand out from the crowd
Try to generate 360-degree coverage of the collaboration in relation to the product, including a distinct presence with regard to packaging, POS, window elements and the overall shopping experience.
Build stories around the brand
Look to develop concepts that the customer can relate to, both within the store and online.
Offer an experience
Ensure that the brand-related activities have an element of participation for the target customer.
Capitalise on the online strategy
Ensure commercial communications in the digital environment are geared to in-store redemption.
Look for the win-win outcome
Maximize exposure by tying in the online strategy of the brand with the retailers’ launch activity in order to secure a mutually beneficial result.