NIL Tips for collegiate athletes
In July, big changes happened in the rules around Name, Image, and Likeness for collegiate athletes. This is opening up a whole new era for young athletes who can now monetize off their brand, whether that means cash or even just free stuff. But before you can monetize off your brand, you have to actually HAVE a brand! Below are some pieces of advice designed especially for collegiate athletes who are interested in taking advantage of these new NIL rules.
Don’t rush it!
I know we are all so excited for these new opportunities and it might feel like everyone is scooping up deals left and right which creates a feeling of scarcity, but rushing into a deal will likely lead to mistakes and end up being a distraction and poor use of your energy.
Take your time considering your options, finding a brand that aligns with your values, and talking through the potential relationship thoroughly so that you really understand what you are going to get out of it and what you will provide.
Write down your goals for any NIL opportunities that might arise. Maybe it’s making money, increasing visibility, growing your fanbase, or getting equity in a company you believe in. Also include what your personal brand stands for and what you want to represent.
Make sure the Brand fits
AUTHENTICITY might seem like a buzz word, but I promise this is so important when considering brands you might want to work with.
Your fans will be able to tell if you are truly excited about something or not. I never work with brands/products I don’t genuinely use and love.
Free stuff or even a pay check is great, but if you promote something you’re not into for a payday, you’ll only be able to do that once before people start to distrust you. It’s never worth it in the long run.
Write down a list of brands/products you already use on a regular basis. This could be anything! Write them all down then take a step back and see which ones you could approach.
create VALUE to your fans first
If you can help people solve a problem or entertain them, you’re adding value to their lives. In turn you have value to brands! The more value you add to your fans/followers, the more value you will have to companies you want to work with.
What you want to say, what you are passionate about, what you can share with your fans, etc. should be things you are always asking yourself along the way.
Write down your “why” for doing what you love. Go back to that any time you feel lost in the shuffle or confused about what you are doing/saying.
think outside the box
Maybe you’re not a big Instagram poster. There are plenty of other ways you can create value outside of a promo on social media.
What are other things you can offer fans that have value?
Here’s some ideas to get you started…
Are you good at public speaking? Offer up your services to teams, companies, high school camps, etc.
Do you already have a fanbase? Create autograph cards that you can sell online or sell fan s/o videos on social media for birthdays, pump up messages, etc.
Do you like writing? Create a blog and sell add space. Blogs could be about anything!
Love cooking? Try out new recipes, create videos detailing your experience, and share them with your followers on Youtube.
You never know how any of these could lead to partnerships with brands who see true value in what you are creating and want to align themselves with you.
stay focused
Possibly the most important piece of advice I can give is to stay focused on what you truly care most about. I can’t tell you what that is, but if you think about something you do getting taken away and imagine how you would feel without that in your life… that’s how you determine what you should spend the majority of your time and energy on.
Find things that you can do in your time outside of sport that don’t take away from what you’re doing on the track, field, court, or course.
Write down a priority list. Things on the list could be anything from “winning an NCAA title” to “graduating with honors”. If you put one of those things as your #1 priority, but then spend a large part of your free time trying to get more followers on Instagram, you have to ask yourself: “are my actions aligned with the priorities?”
Speaking of NIL… here’s a few examples!
I team up with a wellness brand called Beam that makes high quality functional supplements for better balance, recovery, energy, and sleep. You can use my code, COLLEEN, for 15% off your first purchase or 35% off a subscription to Beam.
Discount codes are a great way for the brand to keep track of customers that an ambassador is bringing in the door. It’s also great for the ambassador to be able to offer their customers a discount when they try out the products for the first time before deciding if the products are right for them.
A few years ago, Andrea Nucette-Elliott slid into my DMs about a hair tie she created that is the first completely customizable hair tie on the market. She called it TIY, Tie It Yourself, because that’s exactly what you do with the ties. She wanted to send me some samples. I told her that while I don’t post in exchange for product, I’d be happy to try them out and let her know what I thought.
Once I tried TIY I couldn’t go back to my old hair ties. I was hooked. But TIY was a start-up and Andrea didn’t have a budget to pay me to promote the products. I started wearing the hair ties because I genuinely loved them, and whenever people would ask me about the brightly colored ties with a spottable knot (#spot the knot) I would tell them about this incredible product.
Fast-forward a few years later and Andrea actually gave me the opportunity to be an equity partner in TIY. These types of partnerships are few and far between, but when they align just right its a beautiful thing.
So now I get to be a part of the company and have a vested interest in the success of a product I believe in wholeheartedly.
Questions?
If you are a student-athlete and have any more questions about NIL, branding, etc, I’d be happy to do my best to answer them for you. Drop me a line!