The floodgates have opened! Get ready!!!
“One sports business expert predicted the NIL Space will become a $100 million industry in the first year alone, with some athletes commanding $1 million a year or more by the end of 2021.” Source: CBS
Since the new NCAA NIL ruling was recently passed companies have not wasted any time pursuing college athletes for endorsement and sponsorship deals and it is just the beginning. As these deals continue to get signed and athletes demonstrate their value to the marketplace, you are sure to see more and more companies pursuing the influence of college athletes to promote their products and services.
While it is true that large companies and marketing agencies are signing 6 and 7 figure deals with college athletes, there is also an entire market for smaller companies and micro deals that athletes can sign and endorse.
If you are a future first-round pick in the NBA, a first or second-round NFL draft prospect, or have a large following on Twitter, Instagram, or Tik Tok many of these deals will fall into your lap. The percentage of college athletes that fall into this category is small, extremely small. For the majority of college athletes, it is going to take strategic effort to fully capitalize and maximize their opportunities utilizing the NIL ruling.
Here is the million-dollar question? Are you ready and willing to take bold action to pursue sponsorships and endorsement deals?
Endorsement & Sponsorship Tips
Here are five ways you can start preparing to maximize your brand and monetize from endorsement and sponsorship deals under the new NCAA ruling.
- Build And Grow An Authentic Brand (link to blog)
- Engage and Delight Your Fan Base To Increase Brand Value (link to blog)
- Research Companies Or Businesses That Would Be A Good Fit For Your Brand.
- Create A Sponsorship/Endorsement Pitch Message
- Be Aggressive:
- Find Out Who To Contact (at above companies)
- Reach Out To Discuss Potential Opportunities
- Share Your Authentic Brand Story (website or Media Kit)
So don’t sit back and wait and hope that sponsorship and endorsement deals fall into your lap. While there are a lot of opportunities, there is a lot of competition. The college athletes that have a strategy, a brand, and are aggressive will increase their opportunities and thus increase their potential revenue stream.
Did you enjoy this article? If you did, learn 4 more ways Athletes Can Take Advantage Of The New NCAA NIL Ruling
Work With Us:
With SCI’s athlete branding expertise, we will work side by side with you to develop and grow your brand to maximize fan awareness and loyalty, create a perceived value based on your performance on the court/field and your persona of the court/field; and create strong, favorable, unique partnerships.
Schedule a FREE strategy session with a former college basketball player at Arizona State University, former pro athlete, and SCI creations Athlete Branding Expert and CEO to discuss how you can optimize your platform and talents to get the most out of the new opportunities available for college athletes.