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CEO and Founder of Cura story.
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In July 2021, a new name, image, and likeness (NIL) Interim Policy was passed, giving collegiate athletes the right to earn money. Prior to that, athletes involved in financial transactions faced career detrimental punishments and consequences.
The passage of the NIL policy will change the landscape of college sports, with brands projected to spend around $1.14 billion on college NIL contracts. You’re joining the 50 million people who consider themselves full-time “creators” and the 500 million people who have posted at least one video on TikTok (what we call “creator obsessed”).
Transactions with NIL provide significant funding and economic opportunities for universities, brands, students and internal marketing teams across the country. However, some brands are having trouble figuring out their next move.
Today, college athletes are disrupting the social media world with their passionate, authentic content. Brands are learning the power of working with these “small influencers” to start conversations and drive sales.
Some brands recognize the value of working with these college athletes, while others simply don’t.In a world where perceptions of marketing success change from hour to hour , some brands still make rudimentary mistakes by looking only at follower counts and recognizable names rather than content quality or actual engagement.
Even many brands already participating in influencer marketing campaigns for NIL athletes are spending money on obsolete names and followers, missing out on the wave of new collegiate athletics talent entering the influencer marketing space. .
New technologies drive the market — brands need to catch up
For brands looking to advance their NIL influencer marketing campaigns, Stay on top of industry trends and news, and keep an eye out for new tech by ensuring your tech stack is up to date. New technologies are appearing regularly in the adtech and martech worlds to make creating powerful campaigns more efficient. This is in response to growing interest from both brands looking to tap into this market and influencers looking to connect with big names. This technology should be used to gain new insights, build stronger relationships, and stay up-to-date with new creators in-game.
When researching the right technology to implement, brands should remember: Automation is key and should be used to guide your roster. Audiences are complex, so data should drive spend. Additionally, brands should consider the scale and capabilities of their needs to determine if the technology is right for them. Technologies vary by content type and possibly platform. Brands need to make sure that the technology they decide to incorporate is easy to use and sits on top of their existing channels.
Finally, brands should prioritize quality above all else. You need to weigh the quality of the content your influencers are sharing. Quality content is important for brands looking to create impactful campaigns, so don’t let the glamorous numbers fool you.
the future is bright
As both brands and athletes continue to learn about how to take advantage of these new policies, consumers can expect to see more campaigns featuring their favorite athletes.
As money continues to pour into the industry, there is no doubt that this new reality for athletes will change the world of sports forever, and NIL will forever change the face of the industry. A sport that has dominated traditional media in the past is expected to see stiff competition as non-traditional athletes continue to increase their income in very non-traditional ways.
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