By Marianna Kazazi, The Sports Financial Literacy Academy
College athletes’ careers can go beyond their sport, since they have the opportunity to transform themselves into influential representatives of brands by strategically utilizing their name, image and likeness (NIL). Recent changes in the landscape of college sports have paved the way for athletes to further capitalize on their NIL, creating endless options and opportunities for them to build their personal brands and implement successful marketing strategies.
Creating a personal Brand
The athlete’s journey towards building a successful brand and utilizing an effective marketing strategy begins with a clear understanding of what their personal brand could be. Specifically, athletes need to define who they are in order to eventually determine what they want to represent through their brand. An easy way to do this is by considering what makes them more than an athlete and why people should be interested in them, considering their values, skills and passions and what differentiates them from others. After identifying their fundamental brand characteristics, athletes can start planning their action steps for the creation of their personal brand.
The Need of an Expert to guide you
As student-athletes discover their unique attributes and brand potential, they need expert guidance in order to create a strategic and successful path. Therefore, it is crucial for student athletes to seek professional advisors -preferably ones who have experience in working with athletes- such as sports agents, marketing experts, or branding specialists, in order to help them navigate the business aspects of their career. These professionals can also advise athletes on endorsement deal negotiations, brand partnerships management and provide insights as to how they can maximize their earning potential.
Be Active in Social Media
In the digital era, athletes must establish a strong online presence through social media to connect with their audience. Athletes should craft a strategic approach to social media that highlights their accomplishments, passions, charity work, and personality. Creating captivating and interactive content is essential for athletes to build a strong connection with their target audience online. Athletes can use social media platforms to engage with fans, repost tagged content, and participate in other interactive activities. A well-curated social media presence helps athletes align with their brand identity and enhance their influence in the digital space.
Endorsement Opportunities, Merchandise Sales and Promotional Ventures
College athletes can explore endorsement opportunities, merchandise sales, and promotional ventures that align with their personal brand. Athletes must comply with NCAA regulations to maintain eligibility while capitalizing on lucrative opportunities during their college years. College years are just the beginning of an athlete’s career, requiring strategic planning for future personal brand growth. Athletes should think about long-term brand development, ensuring their personal brand grows beyond college and into their professional career.
In conclusion, college athletes have a unique opportunity to build their personal brands while leveraging their athletic success. By strategically utilizing their NIL, athletes can transition from sports stars to influential icons with lasting, impactful legacies.
The Money Smart Athlete® Blog is established and run by the Sports Financial Literacy Academy® (SFLA). Through its education programs, the SFLA has the vision to financially educate and empower athletes of all ages to become better people, not just better athletes. For more information on our courses, our SFLA Approved Trainer Program®, and how they can benefit you and your clients, please get in touch with us at [email protected].