October 1, 2019
Social media are communication and socializing tools that we use in our everyday lives. According to the latest statistics, the number of social media users worldwide in 2018 was 3.196billion, with an increase of 13 percent from the previous year. Companies and individuals use social media to promote their brand, products and services. Nowadays, athletes use social media quite heavily to market themselves and communicate with their fans, sponsors and potential sponsors.
Through social media, athletes are able to build their personal brand, become known and develop brand equity. Social media is not only a way to promote one’s self, but also a means to promote a sponsor’s products and services. Therefore, by having a high social media presence, athletes create lucrative financial opportunities through sponsorships and endorsements.
This month, we look into how athletes can best utilize social media for promoting their brand and commercializing their image. Social media is undoubtedly a powerful tool in building an athlete’s brand and for boosting commerciality. The vast and fast outreach of social media though can make or break sports celebrities and their popularity, with the speed of light. As a Money Smart Athlete, depending on your personal and athletic standing, there are various personal and athletic considerations to take into account when using social media so that you can actually make them work for you and not against you!
Athena P. Constantinou