Start Licensing’s Ian Downes is drawn to a new product launch underpinned by an imaginative promotion this week.
My eye is always drawn to news stories that are connected to licensing.
This week rather unusually I happened to read two papers on the same day – one was at home and the other at the barbers while waiting. To emphasise the broad reach of the licensing related story, I saw that both The Times and The Sun carried reports about a new product launch from the Royal Mint. The product launch was being underpinned by a very imaginative promotion. Timed for a Christmas campaign, The Royal Mint has issued a 50 pence coin featuring The Snowman. The coin won’t be in general circulation, being sold directly by the Royal Mint and I imagine some of its partners. It will be available in a range of finishes. Starting price for the coin is £12. It is being aimed at collector and the gift market.
In a very novel move, The Royal Mint has boosted the launch of the products by announcing a promotion in tandem with it. It has hidden a gold version of the coin in one of its advent calendars this year, with the calendar themed around The Snowman. The gold coin is secreted behind the Christmas Eve window of one of the 3,000 Royal Mint advent calendars currently on sale. It is a promotion that has certainly caught the attention of the media – I have seen reports on sites like BBC News.
It is nice to see an organisation like the Royal Mint trying new ideas and ways to engage with consumers. This promotion certainly seems to have paid off for it publicity wise. It is also good to see a licensed product being talked about so widely and so positively. The reports about the promotion also highlighted that this is the seventh time The Snowman has featured on a 50 pence coin and that close to 700,000 have been sold since the first one was issued in 2018. A real licensing success story. It is also a good example of how the collectors market is one that holds potential for licensing and that the companies which operate in it have recognised the ability of licensing to galvanise collectors.
Companies like Bradford Exchange, Westminster Collection and London Mint are great examples of companies that successfully fuse licensing and direct marketing. Another leading player is Danbury Mint. I noticed that it was promoting a Betty Boop White Christmas figurine this week in a newspaper TV guide.
Collectables companies make good use of classic characters and also the accumulated insight that they have into purchasing habits. They also time their launches well from a seasonal perspective, but also tapping into anniversaries. Direct marketing is often a hidden part of the licensing mix, but with the rising recognition of fandom it is likely that these expert companies will be featuring on more and more licensing schedules soon.
Christmas has certainly arrived licensing wise, with product launches rolling out in a range of categories. Confectionery and snack food company Zertus announced a new launch this week. It highlighted a range of new Baileys flavoured chocolate and nut lines launched in Tesco. The range includes a caramelised nut mix and mini delights. All the products feature the distinct Baileys taste and flavour combined with Baileys branding. They have been placed on Clio strips encouraging product pick up.
Rather like the collectables market, licensing like this is often overlooked but there is a lot of innovative licensing going on in the FMCG space at the moment. Companies like Zertus use their product development capabilities well to make the most of brands like Baileys. For Baileys, licensing offers it a way of extending its reach and distribution. I am sure it also feels comfortable working with a company like Zertus that has a really good track record of bringing brands alive in the category. Confidence is a key part of the licensing mix and within FMCG particularly important as brand owners need to believe in the licensing process.
I have decided to buy one of the Royal Mint’s advent calendars – as someone once said ‘you’ve got to be in it to win it’. However, I’m not sure I will have the discipline to wait until the night before Christmas to see if I have been lucky or not.
As well as confidence, patience is probably a virtue you need in licensing as well!
Ian Downes runs Start Licensing, an independent brand licensing agency. His X handle is @startlicensing and on Instagram he is @iandownesphotos – he would welcome your suggestions for what to look out for.
