PART 2 – Maximizing NIL Rights For Student Athletes

Feb 09, 2024 | Branding, Endorsements, Marketing, NIL

This is the 2nd part to Maximizing NIL Rights For Student Athletes

[PART 1 – Click Here]

Previously, we discussed that in order to take full advantage of what you’ve become (a more popular, influencing figure to others) – you have to be aware and ok with being exploited. Again, it’s not a bad thing, you get a bunch of value in return, but the school or advertiser or agency is going to get value off you too. That’s just part of it because you can’t grow without the help and effort of others and those “others” should get some sort of return too. It’s a 2-way street, basically.

And we talked about the long game. Not every dollar is worth it, but your time is limited – so you have to balance what you want against what is best for you. It’s not easy, but it’s true and as a business – you need to be a little more patient before agreeing to something that benefits you financially.

So here we are, 3 more considerations in order for athletes to fully maximize their NIL rights:

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THREE (picking up where we left off in Part 1 of the series)

Carefully consider then write down your NIL goal

This is critical because if you don’t have a goal and if you don’t write it down, you can’t plan and take steps to grow. And if you don’t take steps to grow, you won’t exercise and ca$h in on your NIL rights.

If you want some scientific research on why it’s important to set goals – READ THIS.

And in that piece you can read something to this effect >> Goals lead to motivation, motivation leads to building strategy, strategy leads to steps & execution, and executing on the plan leads to results.

So you can’t get results without the goal. You can’t get the bag (results) without the goal. And you can’t do either without what’s in between – finding motivation, planning, and executing.

You won’t wake up and get your full max NIL value just – because. It takes more than your abilities and success on the field or court or event to get all you can get. And if you don’t have that goal in mind, define it, think about it – then get motived and plan and get moving – you don’t get the results.

It’s a linear journey – it’s a timeline – it’s set a goal and backtrack / reverse engineer to where you are now – build your plan – get moving – and stick to the plan while also updating your plan – and that will get you results.

Again, none of this happens without the goal coming first. If you miss that piece, you’ll be off track, you’ll be scattered, you’ll be inefficient, and you won’t get that max ROI you want right now for your NIL rights.

FOUR

Look around

Look around. Just – look.

You need to feed your brain, give it info, let it process.

Step back from your interests and open your mind to other brands, products, industries, and audiences. This is where you can bring innovation and multiply your impact and reach, which will truly increase your NIL value.

What if there was someone, or some thing – that other people followed and looked to – that you could emulate? What if you looked at their plan, how they execute, how they deliver – and you incorporate that strategy but in your industry and your brand?

Yeah – you’re seeing it now – don’t copy what everyone else like you is doing – go find new ways to connect with people and deliver connection, and your NIL value will grow significantly.

Why? Because you’ll stand out in the noise.

New is what’s hot. Nobody likes an iPhone 8, they want the latest version. So if you just copy and do what everyone like you does, you’re an iPhone 8. You’re vanilla. You’re background music. You’re skipped over. You’re left on Read.

You have to do it better and more creatively than the other people you’re up against. Or else your rights will be vanilla background music too.

Here’s what you need to do right now – find a brand that has insane loyalty. One that has an industry with it (a lifestyle brand). And learn about the brand, the products and services they provide, and then look at what people say about them.

Don’t do it with another public figure – don’t try to be Taylor Swift because she’s the only 1 of her. Don’t be Travis Scott – he’s the only 1 of him.

Think of it this way – find some thing that people consume and love. Then ask, why do people love THIS one in particular? What is their connection to it? Why is there so much emotional energy going on that they post about it on their own? Why do people buy the latest and greatest version?

What is it about the brand that people are drawn to?

Then swap “brand” for “you” – what is about you that people are drawn to? What is about these other brands and products that are consumed by others, how can I create that connection? How can I make myself into something people are drawn to?

Why do people buy ANOTHER new $1,000-$1,500 cell phone (like Apple or Samsung)?

• It’s because they’ve found an emotional connection to a brand.

Why do people buy $1,500-$5,000 smoker grills (like Traeger or Pit Boss or Big Green Egg)?

• It’s because they’ve found an emotional connection.

Why is everyone either an iPhone or Droid person?

• It’s because they’ve found an emotional connection to one or the other.

Why are CrossFit athletes so vocal about working out in CrossFit gyms?

• It’s because they’ve found an emotional connection to that brand of exercise.

 

All of this to say – if you want to truly get all the NIL value you possibly can, don’t do what others do. Do things differently than people just like you and draw on the success of another brand in another industry. If you can build an emotional connection that’s new – make people feel proud, make people laugh, inspire people to do more and be better, get others to dream, motivate – that will 100x your NIL value because you’ll have your own following of your version of Taylor’s Swifties.

FIVE

Innovate & stand out

Now you have to get going and you can’t do what everyone else is doing.

You need to be (a little) different if you want a chance as reaping rewards on your NIL opportunities. Nobody likes a copy cat and nobody likes supreme extremes either. It’s rare that success happens from simply doing what everyone else does. It’s also rare that setting the status quo on fire gets you success.

 

So you’ve got to split the difference. You need to push for new and fresh, without going off the deep end.

Remember your goal – where do you want to get to? Ok, what’s the step I take today to get going in that direction? Answer those questions and start doing that thing or things. And keep it up – keep building. Keep tweaking. Don’t go too fast or jump too far, but don’t stand still.

What’s new you want to be a part of? What’s trending? How can you blend that into your goals?

These are daily questions you need to answer so you update your growth plan, your goal chasing plan. Because when you answer them and execute you will start to stand out. You’ll find yourself being new and doing new things that extend your brand, grow your voice, grow your influence.

 

And from a 23+ year digital marketing innovator, that is what people pay for. They want you and your influence, your followers, the people that have said “yes” to you by following you, those advertisers and product manufacturers and service providers want to reach your people – so they can grow their business.

You are the means to their success and they’re going to pay you for help.

Heads up – it doesn’t happen if you can’t help them. It doesn’t happen if you don’t have influence and ability. If people aren’t attracted to you and following you and listening to you (influenced by you) then you don’t have reach. And if you don’t have reach, you won’t get paid and you’re putting a cap on your NIL rights and ability.

BONUS

Protect yourself & your rights

Build a wall around your brand and image. You are the only you – so nobody should be selling shirts with your face or name or number like your jersey. You’re the only one who should get rewarded for you and what you’ve done. You are you, protect it. Protect what you’re building.

 

Here are some quick ways to keep that control, or limit how much control you might give away in exchange for NIL revenue and income and reward.

Maintain creative control. If someone wants you to do something for them, and they say they’ll pay – you need to keep some creative control. They might have a script for you to say and the words aren’t how you’d say it.

Ask if you and help reword it so it’s closer to your brand so your followers will connect with it more.

Now you’re working WITH the marketing dept that sent you the script AND your fans are more likely to embrace the message.

You might get asked to do an autograph session and they can tell you what to wear (coat and tie). That’s ok, remember they’re paying you – but rather than possibly show up in something that doesn’t align to your followers, ask the brand for some ideas that are closer to your image.

Give them some options and suggestions. It will show you’re not a drone robot following orders but you’re not a rebel – you want to work with them to help them reach your audience.

Maintain approvals when necessary. You should have some voice in approving anything with your face, name, image, or likeness. For crying out loud, it’s YOUR brand and you’ve put the work in for the success you’ve found today so you should have some voice.

Too many athletes have signed off on approval and they end up with a stain on their brand. They end up with some money today but a damaged image long term. They get there by not staying in control and approving things – they either sign off or don’t think about their standard.

You should speak up and get it in writing – that you want some measure of creative and approval control, or influence. If the deal offered to you pays well but puts you in a scene that hurts your brand, your followers leave or lose trust – and that is incredibly hard to recover. You’re better off skipping the deal and playing the long game (see point #2 in the previous article).

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Let’s wrap up:

You have your NIL rights and you have to balance just how much you’re willing to give up to use them.

The long game is not always easy, it is always the right choice.

Determine a goal and write it down.

Look around, open your mind, get creative.

Stand out get creative within your level of comfort.

Protect your brand because it’s hard to heal & recover.

If you’re an athlete and want a risk-free way to get rewarded for what you’ve done and who you are – enroll in Impact Fans today. We’re not going to ask you to post, appear, or autograph anything. Ever. You just get paid.