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 running influencer marketing campaigns for brands. Falling right in the middle of the brand + athlete world 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.
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 a 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:
The brands that create the biggest splash the quickest will win. We’ve already seen this happen with Yoke Gaming, Boost Mobile, etc Everyone who is moving quickly is capitalizing on free media and press.
NCAA athletes want to do deals ASAP. Get them while they are interested.
A lot of women athletes don’t have as many opportunities to monetize at the pro level yet can be very influential in college. We see these influencers as a huge opportunity. Unfortunately these athletes also 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 these athletes get the attention they deserve.
Not every athlete is a marketing major! Teach these athletes what good content is. Give them great examples. Explain the difference between features and benefits when it comes to pitching your products or services. Make it easy for them to succeed!
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.
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