What will be the next collectible craze?
That is the magic question every licensing and branding executive asks themselves. Research unveils that no one really knows what entertainment property or product the public will choose to watch/buy ‘repeatedly’ and collect everything associated with that brand. This is the holy grail of licensing and branding.
Why do some people collect running shoes, while others collect comics, or salt & pepper shakers, sport team jerseys and pretty much any type of merchandise their hearts desire. The source of a successful brand is a cross between individual personal taste and mass appeal, with a magic touch of hype.
Can advertising jump start a fad or fuel the collecting craze? Many marketing executives say ‘yes’. Ask any Ad agency that hocks products to the public and they will tell you that with the right mix of media it definitely will influences the interest and decision buying of the public. With enough money and repetition, they can design messages that will help brand a product or license. Quality mind-share.
Remember the buying frenzy of Cabbage Patch Kids (TM), Tickle Me Elmo (TM) or Pirates of the Caribbean (TM) related merchandise. I have never seen so many pirates as I have the past few Halloweens, all proclaiming they are ‘Jack Sparrow (TM).’ A good example of influencing the public interest and spreading the “I want to be associated with this” word of mouth popularity.
Sports teams spend a lot of cash to design new logos for their team jerseys, not just because they want their players to look cool while playing their sport but so that fans will gobble up their licensed merchandise. Marketing budgets ensure that these logos are prominent throughout the arenas and their team propaganda is disseminated via radio, television and print mediums to saturate their market territory and spread the word that wearing their team cap or jersey is the cool thing to do. Image is first and foremost to a collector.
Image and emotional attachment to a brand starts with the color palette chosen, the look or style of the logo of the team or entertainment property name. No one wants to look goofy when they don a team’s cap, or wave a banner in an arena or wear an item that does not invoke a feeling of being cool. That is why some team logos sell more than others.
Image and personal interest may drive the initial commitment in a brand but it does not make the licensed products collectible. Why do consumers purchase one brand over another (even if they are pretty much identical)? Quality.
Everybody wants to be popular. Nobody wants to be associated with wussies and wimps. So one of the keys to help your license is by getting celebrities and/or sports figures that are: a) already known and very popular but also have; b) the emotional image you want your brand to be associated with; and c) the magic touch of quality items that help the public decide to collect all things related to your brand. Lets address all of the above.
a) Which stars/celebrities or sports figures would be good for your brand? When Hip Hop clothing companies wanted to gain awareness for their fashion line, some paid Rappers to wear their clothes so followers of these stars would buy the items to look and be like their heroes. Depending on the street credibility of the star, determined the level of success of these products. Quality and popularity of the stars count.
b) You would not want something ‘not cool’ or give the wrong emotion to be associated with your brand. For example: if your license is a strong male superhero – allowing a Bra or Tampon company to use the name and likeness of your character would prove to be a wrong choice. It would be more appropriate to license companies and products that portray an image similar to the one your superhero already has. Products like certain sunglasses, energy drinks, sleek/fast vehicles and boy type toys. The kind of things that followers of similar brands already purchase.
For example: If your market audience is children from the age of 10 to 15, you would not try and market diapers or firearms to them. It is better to attract companies with products that are already selling their wares to the consumer group you want to entice.
c) Quality is the way you increase the collect-ability of your products? If the author of a novel signs his or her book they have written, readers believe the value of that item has increased because there are only a few with the writer’s signature on it. The fewer signed, the better for collectors.
If a hockey player signs a stick he used in a Stanley Cup final game it has a perceived increase in value over a stick he used in a regular season game. If this player autographs the stick, everyone would agree that the value has gone up, even more value is dependent on the popularity of that player. Perceived quality.
The more team mate signatures on that stick, the better the public will think this item is worth. That is why baseballs, footballs and hockey sticks signed by the whole sports team gain major attention and huge sales prices at auctions. Try and get all those people to sign something after the game is over or the season ends. Rarity enhances quality.
When we were exhibiting at the San Diego Comic-con, comic buyers would purchase my Galactic Gladiators comic books, posters, caps, mugs and original framed artwork. The savvy collectors would ask for signatures by the artist and creator because of the rarity of their autographs on these items together increased the value for each signed product. Even if the true monetary value increase is marginal, the perceived value rose due to the belief of the the fan in the brand.
I overheard one artist comment while autographing his graphic novel, “Put this in a safe place because if I am ever hit by a bus, it will be priceless.” The reason is that he will not be able to sign any more products if he is deceased and thereby the few products out there with his signature on them would dramatically increase their value in the public market. The media attention that is sure to follow the death of an artist/creator would increase interest from the public for everything he/she created. Media influences popularity and value of brands.
There are almost 7 billion people on our planet and if there is only one-of-a-kind made or only one signed copy out of thousands printed, then this would establish increased branding value.
Collectibles can be such a valuable tool in marketing and public relations. As a creator of content and product you should create collectibles by autographing a certain number for special followers of your brand. These few products will stand out from the other unsigned ones and provide the collector something to tell their friends about, which could lead to word of mouth advertising. The best form of free marketing.
When licensing your brand’s logo and character(s) name and likeness onto products, ensure they are quality products. I have seen several major brands allow their license to be placed on crappy products or products that just don’t fit the image or perceived concept of the brand. Don’t do this, as it is a sure way to destroy a brand which would require time and retooling/relaunching efforts that are very expensive and preventable by licensing only onto good quality items.
Never underestimate the value of collectors and their need to keep a complete set of whatever it is they are collecting. Do what you can to make your brand a collectors dream. That is what makes collections and those that collect, so rare and valuable.
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