Working with a content licensing agency gives publishers time back to focus on content creation while maximising revenue generation.
When creating content is your strong suit, you might think managing it is easy, too. But think again. It’s tempting to keep a practice like content licensing in-house, but in the long run, outsourcing it to a trusted partner is the wise choice.
Trust is the optimal word here. Your content licensing partner not only manages your brand but will also represent you in ways that you might not have the time or energy to do. They can be a massive convenience if you let them be.
Ultimately, the decision is yours, but these five reasons make it clear why outsourcing your content licensing makes sense for your business.
1) Work with an expert
While many publishers know content licensing is valuable, few know where to start. Content licensing agencies have been handling these processes for decades and know the industry inside and out.
This expertise saves publishers time and resources, but ultimately it helps them earn more money. Agency experts don’t waste time throwing spaghetti against the wall to see what works. They are ready to dive in and get to business, helping your content earn new revenue almost immediately.
An agency like Wright’s Media is powered by industry experts who live and breathe content, bringing years of specialised insight to the table. They represent many of the world’s top content creators and generate significant revenue through strategic content licensing. If you’re ready to achieve that level of success for your brand, it may be time to consider outsourcing.
2) Save on costs
When considering whether to outsource your content licensing, publishers need to tally the total cost of handling it in-house versus outsourcing. Those costs add up quickly and include:
- Salaries: if you hire content licensing managers, marketing staff, designers, and production staff to manage your content licensing efforts internally, you’ll be paying them a salary and/or commission
- HR: There will be expenses associated with the recruitment, interviewing, vetting, and onboarding of new employees
- Training: Each new employee must undergo at least some training with current employees, and this takes them away from revenue-producing activities
- Production costs: Do you print or design in-house? If not, these services will have to be purchased separately, unless you outsource, of course.
Creating an in-house team eats up significant up-front investments in time, money, and resources before you can begin to expect a positive ROI from your licensing efforts. But content licensing doesn’t have to cost you anything upfront. When you choose to outsource, you don’t waste any time. Instead, you’ll fast-track your publication to financial benefits.
3) Streamlined workflow
When you decide to partner with a content licensing agency, you benefit from a predefined workflow that has already been proven to drive results. Your content licensing agency will handle the entire content licensing process from strategy to research to marketing to direct sales and even in-house production.
You’re already doing these things for your content creation – do you really want to do it all over again internally for content licensing?
On top of taking care of the entire process, an agency will provide reporting, leading to great transparency about your partnership. Partner with a content licensing agency that provides complete access to your transactions in real-time. There should be nothing to hide.
4) Create an extension of your brand
Your content licensing agency should feel like an extension of your business and, as such, they will dedicate sufficient personnel. With client success managers and content licensing managers on your side to solve your problems, you can focus more on your content and less on optimising it for profits. They’ll handle that for you.
And because your agency becomes an extension of your business, it has to do more than just go through the motions of selling licences. Expect them to offer guidance, marketing direction, and overall strategy for your brand. The agency will be invested in your success, because they only win when you do.
5) Boost in-house efforts
If you’re not engaging with content licensing, you’re leaving money on the table. That much is clear. If you recognise that it’s too much work to take on internally, or if you’re not sure if your publication has licensing potential, outsourcing will be your answer.
If you’re already trying your hand at content licensing internally, we tip our hat to you. You get it. While in-house is better than nothing, it still might be wise to consider outsourcing. Has your content licensing become more of an afterthought or done only on an ad hoc basis? Are you devoting sufficient resources to make the most revenue you can from your content licensing?
Outsourcing to a content licensing agency not only enhances your brand awareness but also uncovers new opportunities to maximise revenue generation across your publications. Publishers are often stunned to see the additional revenue they can generate by partnering with an experienced content licensing agency
Not convinced you’ll outsource yet? Let’s change that. A content licensing agency like Wright’s Media is a powerful partner to optimise revenue through licensing. Get in touch to request a free licensing review and let’s see how you can build strategies that generate results and not headaches.
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
