The basic goal of any business is to make money. Your goal when you started your company and put all that work into your brand was to increase your bank account’s balance.
In the first of two posts devoted to four easy, no-cost ways to generate revenue, we’ll look at how content licensing and awards programs can make you a happy business owner every time you look at your checking account.
How does growing your market share in an environment where the revenue growth potential is unlimited and your product/service is protected sound? Say hello to content licensing, your business’ new BFF.
Imagine if a world-renowned company like Disney had decided to limit its reach and exposure to family-oriented movies and cartoons. Hard to do, isn’t it, since Disney has their brand plastered on everything from shirts to bikes and all points (and products) in between. Having Disney associated with your business is a pretty big deal.
Content licensing gives you the power to increase your presence, increase your revenue, and decrease your risk. How? You negotiate the rights for others to use what you’ve created for their benefit and yours. Your brand will thank you for it.
Content licensing allows to acquire additional revenue by using your brand with:
- POP displays
- Product packaging
- Direct marketing
- Radio and television advertising
- Print advertising
- Internet advertising
How can you give away a prize and still be a winner? By utilizing your awards program for further monetizing of your brand. Your awards have earned their reputation as looking good on a resume, so why not use it to increase revenue? Selling your awards programs to others for their promotional purposes makes all parties involved winners.
By selling the rights to use your awards programs to businesses that can use them to call attention to their brand(s), you can generate revenue AND generate more recognition for your brand with items such as:
- Magazine excerpts
Adding revenue doesn’t have to be rocket science. By using a few easy-to-implement strategies, you can increase your profits and protect your brand at the same time. Come back tomorrow for two more ways to add to your bottom line that you (yes, YOU) can do NOW to make more money.
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