Strategic Marketing Plans For Intellectual Property Monetization

Expecting inventors to be expert marketing professionals is like expecting fishes

to be excellent in flying, unless the inventor is a marketing expert by profession. I do not have any intention to demean the inventors. The suggestion is that gifted professionals invent something that is related to his/her area of expertise; and you can hardly expect them to be proficient in marketing what they invent. It is for this reason that seeking professional help is the best way for intellectual property monetization.

There are several ways of intellectual property monetization. However, to make the best of your IP, it has to be marketed in the best ways possible. Just licensing your intellectual property or owning the copyright or patent does not suffice as IP monetization means. It needs specific marketing strategies to be developed as well as accomplished to make sure that you profit the best out of your invention, i.e. your intellectual property. Let me now give you a quick overview of how strategic marketing by professionals help you in capital raising and IP monetization.

Strategic marketing is a process rather than a one-time activity. To make your marketing ventures strategically correct and potential, you need to analyze how valuable the product (your intellectual property) is, how much the customers need this product, how strong competition you will face when selling your product in the market and also the risks and opportunities involved in marketing the product.

Now perhaps you realize how difficult it is to market the IP you have invented. Therefore, it is always a great idea to hire expert marketing professional or agency that ensures the best intellectual property monetization and capital raising. If you are wondering where to find professional help in IP monetization and capital raising, the best idea is to look for them online. Youll find a number of services providers in the niche. However, you have to choose the best service provider, checking their online reputation and also by comparing the rates they are offering. While browsing through their websites, try to have an idea how good they are in the services they provide.

A genuine service provider in the niche of strategic marketing especially for intellectual property monetization will always suggest you to get your IP licensed. It is the license that ensures that you are the owner of the IP and you have every right to sell it and authorize other people to use it.

While chalking out a strategic marketing plan for your intellectual property monetization and capital raising, the service provider will segment the market by segmentation variables. The market segment analysis will also be based on the customer needs, revenue potential and profit potential of the product. It is also necessary to benchmark the products that compete with that of yours in the market. Based on the findings a strategic marketing plan is developed. If it is a truly professional service provider you have hired, their marketing plan will determine the current status of your product, find multiple ways to grow profit, consider new marketing plans, suggest communication plans and insist on customer service plans.

by: Jacob M Willis

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