Like musicians, bands, artists, and celebrities, brands need to connect with fans in a way that leaves a lasting impression. Without fans, brands can certainly survive for a while, depending on their industry and the service and/or product(s) they offer, but eventually they will need to find a way to connect with their customers in a more meaningful, hands-on sort of way. Experiential licensing gives brands a unique opportunity to connect with fans directly as well as create new ones for years to come.
Just recently Sandbox VR and CBS Interactive teamed up to bring Star Trek to life for fans with a one-of-a-kind immersive VR experience that leveraged full-body motion capture technology and VR headsets. To the delight of participants, fans were transformed to the famous Holodeck and walked away with an experience that they’ll cherish for years. CBS Interactive finds new and inventive ways to leverage their properties, while Sandbox wins over fans with its technology thanks to the power of the Star Trek legacy.
Coming up in April of 2020, Showtime is teaming up with Elvis Presley’s Graceland to celebrate the 30th anniversary or the cult-classic, “Twin Peaks.” The Official Fan Celebration will immerse fans in everything “Twin Peaks” down to the cherry pie and “damn good coffee.” Cast members and crew will be on hand for this nostalgia-driven weekend, where fans can mingle with cast members during many show-themed parties, as well as experience special episode screenings and more during this a once-in-a-lifetime extravaganza—all under the roof of “the King.” The price of admission to this weekend event starts at a whopping $399 with the VIP package going for $999. Time will tell if fans find this price tag worth it, but all signs point to a resounding affirmative.
The rise of social media and technology has altered the way consumers find and interact with brands. Consequently, retail habits are shifting. Consumers are increasingly difficult to reach by traditional means. Immersive experiences like licensed retail/food pop-ups have proven to be one successful way to attract dedicated and nostalgia-driven consumers in new, exciting ways. As consumers continue to demand more from brands, immersive experiences will continue to grow in relevance as an important extension of the traditional retail landscape.
For both the licensor and the licensee, the revenue opportunity is a big measurement of success. Other important benefits include ensuring brands attract the attention of new generations as well as maintain the devotion of their existing fans. And like the Twin Peaks 30: Official Fan Experience, experiential licensing partnerships can be a powerful marketing tool for anniversaries, launches, and other milestones that brands may want to highlight for their audiences.
The potential for brands looking to leverage IP licensing deals, be they the licensor or licensee, can be a very lucrative endeavor, but these partnerships take time to get right and cultivate. Brands have to have a clear vision, they absolutely must know their audience, and truly comprehend the DNA of the properties they are looking to license. Once they have all of these pieces in place, they can start to create and deploy immersive experiences to directly reach their customers in ways that will serve the brand’s success in immeasurable ways for years to come.
