Modern business is a competitive landscape, and leveraging intellectual property strategy is one of the keys to standing out from the crowd.
From movies and games to sports and branded experiences, companies build a lasting bond with their consumer base by getting a buy-in from their unique IP, while also broadening their audience to unlock new revenue streams.
This kind of branding is pertinent across multiple sectors, allowing businesses to create an identity that is unique to them. Take a look at some of the areas where a commitment to honing their IP has paid dividends.
IP use in online casino gaming
There are thousands of slot games available to avid players, but some remain popular while others exist at the bottom of the pile. One of the ways platforms seek to make games that stand out is though IP franchising. For example, on Paddy Power casino games, including titles like The Walking Dead slot and The Walking Dead Cash Collect, show how intellectual property strategy can spread to a range of different sectors.
The role of IP in the movies
Film franchises were one of the first to really take the ball and run with their IP benefits. You could name dozens that have done it well, but few have built a legacy like “007” himself James Bond. Ian Fleming first wrote about the British spy in 1953, with the first film coming out in 1962, but Bond is still going strong 27 cinema outings later, and with a new James Bond game also recently released.
Key markers have made the franchise constantly stand out, with the famous gun barrel opening sequence, unmistakable catchphrases, and the protagonist’s favorite drink – you know the one.
Since IP utilization has become even more important to success and revenue building, there have been iconic Omega Seamaster 007 Editions and even the one-off Rolls Royce Phantom Goldfinger. Blending storytelling with consistent branding and diverse merchandise, Bond has never been out of the public eye through a strong intellectual property strategy.
Why is intellectual property crucial to success?
Fans and consumers build an emotional connection with the IP associated with their favorite films, games, and characters. And when they feel something, they return.
However, the creative crafting of merchandise and mediums means they can keep investing in the products without getting bored.
The most successful companies have monetized the same IP across different markets, appealing to demographics of all kinds, offering them value through narratives and enjoyment without letting their standards slip.
Building new IP strategies
The last few years have seen brands find new ways to keep their IP in the hearts and minds of their fans. Now more than ever, it can be in the consciousness of their supporters around the clock, with mobile apps able to feed notifications nonstop, while offering bonuses for loyalty.
They can offer exclusive access to the most ardent fans via social media and subscription services, making their products out there 24-7. The ability to strategically deploy intellectual property strategy remains an essential pillar of innovative business strategy.
