Whether you’re planning your physical return, figuring out your long-term remote work setup, or somewhere in between, there’s no question that the first two quarters of 2020 have changed the relationships with your agency and clients.

From ingenuity driven from the new and urgent needs of your clients, to new efficiencies gained in the process or delivery of your services in a displaced workforce, you may find the results of your response to the pandemic will become the breakthroughs your agency needed.

Have you taken the pause to reflect on what you’ve created, and what your agency is truly capable of in the future?

And could your next opportunities come from assets that you already have in hand?

Before you move to your next phase, whatever that is, take some time to recognize the new depths of your talent and capabilities as a firm; review and identify the intellectual capital that exist in your agency (old and new); and start the first steps you need to take to protect your IP assets – they could be your next revenue-generating machine.

Discovering Your Agency IP

I have covered this topic for years in special event presentations and my blog, from performing an intellectual property inventory to exploring new ways to turn your ideas into new revenue opportunities.

As I’ve said in an earlier post on intellectual property for agencies, some of your best leverage in your agency’s client relationships is the intellectual property you create for them.

It’s very likely that there are new revenue opportunities in this IP. Take some time to uncover potential additional revenue streams leveraging the expertise that makes your agency unique and successful. For example, offerings like:

• “Stock libraries” of Fonts, Images and Other Artwork
• Signature Products
• Educational or Training Courses
• Virtual Events
• Exclusive Digital Content
• Membership Websites or Networks
• Software and Mobile Apps
• Repackaged unsold Client or Spec Work

Protecting The IP That Matters

Protecting your agency assets can include registration of trademarks, copyrights or patents, IP rights assignments, confidentiality agreements, and similar legal measures. The only right time, and least expensive way, to legally secure your agency’s intellectual property is before you try to monetize it. It is hard to watch an agency take these steps toward building proprietary solutions and potential revenue streams, but fail to secure their opportunities from a legal standpoint, and certainly in this competitive environment.

How do you know where to invest your resources in either the discovery or protection phases of analyzing your IP?

Look at factors like:  ease to get an offering to market, assets or intangibles that give the agency its best competitive edge, or IP that’s most likely to be stolen by others.

Frankly, your agency has more assets than you can reasonably leverage or protect – focus on your best opportunities or biggest risks.

Monetizing Your IP

There are number of models and path your agency can take to making money from your IP assets, including subscriptions, licensing, whitelabeling/reselling or outright sale of the asset. Your strategy will match the types of assets you’ve developed and protected.

From there you have the chance to further leverage the strengths of your agency; creating and executing the marketing plan to launch your new offerings.

You adjust to your clients’ needs in real-time every day. With that, the ability to pivot quickly and use your existing resources to create something new, with new efficiencies, technologies or collaborations, can be developed into new, money-generating opportunities.

Want to Learn More?  We’ve Got a Guide for That

You’re on your way to turning the IP your agency has created into new revenue.

Want a jump start? Get our FREE Guide: Your Agency and its IP – Another Path to Revenue . 

Download your Guide HERE