Oct 9 • General discussion
How to Bake a New Pie (and Get a Bigger Slice) with Licensing Deals
Not sure about you all?
But I'm a pie guy.
Now that I'm a type 2 diabetic, I can't really enjoy most conventional pies.
Thankfully, there's new ingredients like Almond Flower and Swerve that can be used to make Keto-friendly pies.
My son made me a Keto-friendly Nutella pie for my birthday last month.
YUM! YUM!
Some of you have asked about how to take a product and turn it into a licensed offer.
As PiggyBANKERS we want to avoid taking a piece from the pie a partner is already eating off of.
That's a quick way to get a fork stabbed through your hand!
Instead...
We offer to bake a whole new pie through licensing!
Take a proven offer (recipe) and whipping up something fresh (licensing), so everyone gets a bigger, tastier pie!
I think of adding licensing like baking a Keto-friendly pie...
You're getting all the great taste without all the bad stuff.
Here’s how it works:
Most successful offer creators are already eating off a pie they’ve baked.
It’s warm, gooey, and satisfying—but it’s also got a use by date.
Even the best offers eventually start to sour.
The offer owner ends up shifting their attention to baking a different tasting pie.
Let's take the guy I reached out to as an example...
When I entered into his world last year...
He was pushing an offer for physical product owners to build up FOMO in their audience by making special Black Friday offers early and exclusively to their email list.
I bought the offer along with a lot of other people.
The offer did well and he had plans to support it but at the beginning of this year he made some shifts.
He created a physical hair treatment product with another partner.
Then he shifted to growing a dead Instagram profile into millions of views.
He discovered that merch products sold really well and he started sourcing mugs, shirts and other things.
When I reached out to him in early September?
He was busy boxing up 40 - 60 boxes of merch each day for his new venture.
He was about to neglect his good quality offer because he was so busy with this new business.
Thankfully, he told all of us this on his email list.
As a PiggyBANKER, I immediately saw the "New Pie" opportunity.
I knew the value he had with his other offers.
Instead of asking for a slice of his current pie (which feels like taking food off his plate), I offered to bake a new pie using his successful recipe.
He already had almost all the ingredients...
The oven...
and the hungry crowd.
All I did was bring one ingredient...
Licensing.
Then I offered to bake him a new pie without him having to lifting a finger.
Here's what I said in my email:
“What if we ran a quick test to see if there is interest in licensing one of your offers?
Maybe Promo FOMO or Sales by Saturday? (I'd bought both of these offers and knew they were good)
Since your list already knows your offers, we could focus on re-engaging them and seeing what kind of response we get.
Plus, it could bring in some revenue now instead of waiting on an affiliate payout. (He originally suggested collaborating on affiliate offers)
I’d handle the campaign setup, emails, and strategy with your review of everything before sending.
What do you think?”
Proposing the licensing was a no-brainer for him.
His response?
"Chad, excellent idea. Let’s do it. Let me know what you need to get started.
I think Promo FOMO makes the most sense, we’re 90 days from BFCM (Black Friday / Cyber Monday)."
Now...
It's taken a bit longer than expected to get to baking this new pie.
He's still busy packing boxes every day.
We're supposed to start baking on Sunday.
I don't have a fancy plan to run this.
I'm using the Quiet Little Launch to run the campaign.
See if we can get some sales in the door before putting the licensed program together.
How do I plan to put together the licensing program?
Recently, I watched Tony Teegarden put together a new licensed offer for his Partner Pipeline Pro.
I bought a license and saw how he structured everything (it's in the classroom if you need help finding partners).
I plan to model that for putting the licensed package together.
Stay tuned for updates!
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How to Bake a New Pie (and Get a Bigger Slice) with Licensing Deals
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