The One Essential Thing to Organically Grow Your Content Licensing Revenue
When a publication starts generating revenue from a content licensing strategy, it’s exciting to watch their success. But once they see their efforts paying off, those same publications always want to know how they can do even better. It’s normal to want more, especially in such an ever-changing media market.
If you are looking to generate more revenue organically through content licensing, you need to do something proactively with the brand equity you already possess. That “something” is dependent on several factors, which is one of the main reasons publishers choose to work with a content licensing agency.
That said, there’s one thing that every single publication and content creator must embrace if they want to continue on the path of organic growth. Or rather, one thing every brand needs to stop doing: giving away content for free.
Audit Your Team
If any part of your team is allowing free usage of your brand’s logo or assets, it’s basically a leaky faucet that’s siphoning off profits from your publication. Are you prepared to fix it?
Consider this an internal approach. It’s vital that all branches of your business are on board with your approach to content licensing. Look closely at your editorial and advertising teams to see who may be giving away your assets for free—even if by accident.
While your strategy may be chugging along nicely, there are ways to gain even more momentum by finding out where the missed opportunities are to leverage your content.
Educate Effectively
It’s understandable that there may be shortcomings because content licensing is still a relatively new practice for many brands. Frequent check-ins provide moments to educate your team while optimizing your revenue potential. Avoid pointing fingers and instead embrace a more constructive solution to get back on track together.
The last thing you want to do is chip away the value and equity your brand has earned by not having a clear approach communicated with every member of your organization. By having inconsistent practices that see your logo and assets shared for free, you are tripping over yourself and hampering your organic growth.
Consider the Experts
While it’s imperative to take stock of how your content licensing strategies are working across your entire publication, it requires time and resources. Daunting, right? Maybe it’s time to check in with professionals.
Even if you’re seeing content licensing revenue results, a content licensing agency can help you grow more. Outsider expertise will enable you to identify the opportunities you’re likely missing. You need experts steeped in the industry who know what works and what to look for. No two strategies are alike.
Each brand is different. Each brand has opportunities. But no brand should be giving away anything for free.
Eager to grow more? A content licensing agency like Wright’s Media paves the road for new approaches and strategies that publishers are implementing to see results. Get in touch to request a free licensing review and let’s see how we can feed your organic growth.
