Author: Krysta Mack, Senior Marketing Strategist
You may have heard the term NIL being thrown around in the marketing world, especially in regard to collegiate athletes. So, what is NIL? In the simplest form – NIL stands for name, image, and likeness. But for college students, it can be hard to leverage your NIL in the most beneficial way. That’s where a team, like Voice Z Digital’s NIL team, comes into play. I will explain what NIL means for college influencers, show you how you can build your brand – from wherever you are at now, and finally, demonstrate how you can pitch your name, image, and likeness to businesses!
NCAA & Collegiate Athletes
“NIL” in the NCAA refers to the way collegiate athletes can receive compensation off their name, image, and likeness. Utilizing the NIL of an athlete means leveraging their personal brand through marketing and promotional endeavors in partnership with an established brand. This can come in many forms – ad campaigns, autograph signings, skill sessions/sports camps, product reviews and so much more.
It may be surprising, but the NCAA didn’t always allow athletes to profit off their name, image, and likeness. It wasn’t until the case NCAA vs. Alston went to the Supreme Court in June 2021 that they unanimously ruled that the “NCAA was not legally allowed to limit any education-related payments to students.” Now, it is up to each state to make their own rules; however, two things remain prohibited by the NCAA:
- Athletes CANNOT receive compensation tied to their performance. That means that athletes can’t be given a bonus if they win or score a certain amount.
- Athletes CANNOT be recruited to a school through an NIL deal. That means that athletes can’t be given compensation of any kind in exchange for a commitment.
Influencers
Influencer marketing is being used more and more throughout the marketing world with the rise in popularity of Instagram, TikTok, and related social media platforms. It is a way for businesses to leverage people who have a large, engaged following in order to drive sales. An influencer is defined as someone who “has a so-called expert level of knowledge or social influence in their field.” Utilizing an influencer’s NIL can look like endorsements/product reviews, product placements, photography, content creation, and so much more. NIL deals can be in exchange of money or free products.
Building Your Brand
The most important strategy for an influencer is to build their brand. Influencers should follow these 4 key rules in order to build a successful personal brand:
- Identify your expertise. What content are your followers responding best to? The more unique the field, the more people will see you as a leader.
- Post consistently. It is important to find a sweet spot so as not to cause fatigue with your audience but to also keep them engaged. This sweet spot tends to be 3-4 posts per week. Content planning platforms like Hootsuite, Sprout, and many more can be super helpful. And don’t be afraid to post across platforms!
- Network with other influencers. Connecting and collaborating with other influencers can bring your brand to a whole new audience. Join social media groups that reflect the field you want to represent.
- Have fun and be creative! Interactive and funny content tends to do extremely well in today’s social media landscape. The most important thing is, be yourself! Audiences can tell when you’re trying too hard to be something you’re not.
Pitching to Businesses
Now that you’ve built your brand, it’s time to leverage your following and make deals with businesses who align with your image. Here are 5 steps to take so that you’ll be prepared to speak with any business:
- Create a media kit. This kit is essentially a fun resume. A media kit should be all about you and what you bring to the table! There are many templates online.
- Perform a personal brand audit. Audit all your social media accounts keeping track of: followers, growth, engagement rate, consistency of posts, unique brand, voice across accounts, and highest performing post. Take notes of your initial thoughts and where you can improve.
- Build an entrepreneurial opportunity map. What are some brands that you vibe with, and most importantly, what’s in it for them? Do you have any specific social media ideas, like a podcast or weekly post? Any other ideas to monetize, like your own product?
- Discover what differentiates your brand. Why do you do what you do? What skills do you have to help you stand out? How will you share what you do on a regular basis? What do you want people to say about you?
- Build your final pitch! A good pitch will include:
- Your elevator story. Pull from the differentiation you noted.
- Prove it! Use the stats from your brand audit.
- What’s in it for them? How will the target benefit from working with you?
- The email subject line should be catchy and interesting.
Conclusion
Influencer marketing and NIL is new and exciting. The great news – it’s not going anywhere anytime soon! I provided some tips to getting started, but NIL is all about YOU! Experiment and find out what works best for you and your brand. And remember, don’t compromise your personality and the heart of your brand – trust me, your audience will take notice.
Most importantly, have fun with it! There is a group out there for everything. Whether you like sports, reading, art, the outdoors, or literally anything else – you can find your people.
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