Whether in the form of a webcast, podcast, or YouTube video, digital media offers a cost-effective and time-saving way of marketing your licensing opportunity. The key is figuring out which form or combination of video forms best suits your IP.
Digital media helps bring your IP to life as opposed to a static page data sheet with an image or two. A well-done video and/or audio makes it a dynamic presentation and helps your potential licensing partners quickly understand how your IP works. Videos are more engaging and you can update information about your IP, showcase the latest press, or summarize a research article. You can also include customer testimonials and announce new licensing partners.
Videos are the most effective way to show your IP in action, especially if it’s a unique technology or product. In one case, I worked with a client who’d created a new patented portable pop-up tailgating party center. The wow factor was how portable and easy it was to set up. Because it was so unique, they had to physically show it to potential licensing partners so they “got it”. But showing it one meeting at a time was too time consuming. They produced a series of short “demo” videos, and in some cases, customized the IP so the licensor could see how their brand would look on the product.
Potential licensees can get more details, see your IP ‘in action,’ and hear directly from you, allowing them to quickly figure out if your IP fits their needs. In addition, digital media is a cost-effective method of IP marketing. A short five-minute video can save you hours on the phone with potential licensees explaining your IP.
Figuring out whether to present your intellectual property through audio (podcast), video, or both (webcast) depends on the IP. For example, video is great for IP that requires physical demonstrations, such as a new product or software. If your IP is in the prototype stage then you’ll have something tangible to show. If it’s still in the early development stage, you can use concept drawings, animation or combine a series of still images with a voice over to show your IP. Another alternative is an audio (podcast) discussing your IP features.
A couple of free tools to check out include Animoto, Masher and Prezi. You can tailor your presentations to show how your IP fills a valuable need or offers a solution for particular industry or market.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.