5 Takeaways for Brands Trying to Capitalize on the new NIL NCAA Rules

The day has come! NCAA athletes can now monetize their Name, Image, & Likeness (NIL) and this story has been breaking the internet. Here at Today’s Business we’ve been helping professional athletes build their brand and monetize their fan base for almost 10 years. We’re also experts in managing influencer marketing campaigns for brands. We sit right in the middle of the brand + athlete world so we have a lot of insights from both sides of the fence and in this blog we’re going to share everything we know with you as NIL marketing experts.

NIL Marketing Experts

First off though, why should you trust Today’s Business as an expert on this topic? Great question. We’ve helped athletes like Chris Hogan earn almost half a million dollars in endorsement deals with brands like Pepsi, Bose, FOCO, the Menlo Club, & more. We’ve done deals that are flat payments, deals that are affiliate or performance-based, hybrid deals, and even have helped Chris earn equity in brands like EPOCH Lacrosse, Tomahawk Shades, & the Premier Lacrosse League.

On the flipside, we have been managing influencer campaigns for years for brands like ButcherBox, Bodybuilding.com, FOCO, & Chomps. We help these brands maximize every dollar they spend to help them achieve their goals, whatever they might be.

So what do we think about the new NIL laws? We’ve got a lot of thoughts on this hot topic but to keep this short and sweet we’ve broken it down into five key points below:

What Brands Need to Know about NIL Marketing

1. Know each state’s laws and strategize accordingly

ESPN’s article is a great source on this topic. Every state has different laws so make sure you know this before launching a campaign so you can focus on the markets that best fit your ideal customer profile.

2. Act fast to maximize your NCAA athlete marketing program

The brands that create the biggest splash the quickest will win. We’ve already seen this happen with Yoke Gaming, Boost Mobile, and other early adopters. Everyone who is moving quickly has seemed to capitalize on free media and press.

NCAA athletes want to do marketing deals and they want to do them now so get to them while they are highly interested!

3. Women’s sports

A lot of women athletes don’t have as many opportunities to monetize their NIL at the pro level but at the same time they can be very influential while in college. We see this as a great opportunity. Unfortunately, women’s athletes don’t always get the same level of attention and amenities as the big D1 football and basketball stars. Now is a great time to show that your brand is forward-thinking and wants to help women’s athletes get the attention and compensation that they deserve!

4. Provide Guidance & Help Educate

Not every athlete is a marketing major! Teach these athletes what quality content is. Provide them with great examples of how they can promote brands. Explain the difference to them between features and benefits when it comes to pitching your products or services. Make it easy for them to succeed!

5. Look for ways to build deeper relationships

It’s important to find those athletes who truly love your brand. These people will create the best content and will sell your product the best. Look to build with these people long-term and see how they can help you expand your ambassador program beyond the locker room and to their peers, friends, and family.

Quotes from our Marketing Experts about NIL NCAA Rule Changes

“Here at Today’s Business, we have gotten countless inquiries from brands, athletes, and universities looking for guidance on how to collaborate with one another. We have tons of exciting stuff in the works so definitely stay tuned to our social channels!.” – Tom Ottaiano | CEO

“It was only a matter of time before the NCAA had to allow student-athletes to monetize their Name, Image, & Likeness. I’m glad that they finally did because this opens up the door to so many new and exciting ways for brands to build their ambassador programs and find unique ways to create win-win opportunities for all.” – Joe Sanfilippo | Growth & Partnerships

Athlete Marketing Can Be Simple & Effective When Done Correctly

As you can see, the theme here is that these new NCAA NIL rule changes provide a lot of opportunities for brands to create more awareness and increase sales volume. The key to success with NCAA athlete marketing is knowing the rules, acting fast, finding new opportunities, educating your ambassadors, and building meaningful relationships. While this may seem simple, the work that needs to be done to properly build an athlete ambassador program is quite cumbersome. We recommend working with an expert influencer marketing team to help you organize and build out a brand ambassador program full-time. If you’re looking for more info about NIL marketing contact the Today’s Business team today!