5 Steps to Building a Low or No Cost NIL Program
Everyone Needs a Plan
After two years, we now can confirm that there is NIL activity at all levels of college athletics - and permitted at the high school level in about half the states.
Some of you work at universities that have NIL strategies. Most of you do not.
I’m not suggesting that we treat the schools in the Centennial Conference (DIII) like the SEC. But what I am proposing is that everyone needs a plan.
So here are some steps that can be taken to be prepared, while doing so in a low cost or no cost manner.
#1 Determine Your NIL Mission
Step #1 is writing a short NIL Mission Statement. Take a shortcut by answering these 3 questions.
What is the purpose of your NIL plan? Consider where it fits in with your institution and athletic department.
What should NIL look like at your institution? Base it on your core values.
Who are you building a plan for? Typically, there are three groups that need NIL support and education:
Student-Athletes who expressed interest in NIL and you want to support them
Coaches want to be able to talk about NIL during recruiting, so you want to establish an NIL infrastructure
Administrators who are now ready to build a plan, but want to take a slow and steady approach
#2 Write and Publish Your NIL Policy
Every institution should have a written NIL policy.
There is no reason to recreate the wheel. There are good policies that you can draw from.
Here are a few examples that I like (I’ve intentionally chosen institutions for whom I do not work 😉.)
Arizona State (POWER 5)
Northeastern University (MID-MAJOR)
LeMoyne (DII)
University of Dubuque (DIII)
Indiana University East (NAIA)
New Jersey Interscholastic Athletic Association (HIGH SCHOOL)
Pro Tip: Focus your energy on customizing how you want student-athletes to disclose their NIL activity and what product categories you will prohibit.
#3 Build Your NIL Curriculum
Build a 9-month curriculum for student-athletes.
Include, at minimum, the following content:
Personal Branding
NIL Literacy
Financial Literacy
Social Media & Influencer Marketing
Professional Development
Use your on-campus resources for content and identifying instructors. This capitalizes on institutional knowledge and reduces cost.
Keep live sessions under 40 minutes. Record and distribute digitally.
Rinse and repeat every year for the new group of first year-students and changes to the NIL landscape.
#4 Make Available Free Tools for Student-Athletes
There are a host of free platforms (for student-athletes to seek out NIL opportunities) and other tools.
This is an incomplete list, but I’d start with the following:
Platforms
Tools
Given the focus of this "low and no cost NIL program" post, I'm not discussing Opendorse or other platforms for which the university pays a fee. I do suggest that you and your student-athletes check out these platforms which are free for them.
#5 Don’t Forget the FAQ’s
Don’t forget to create a literal FAQ resource.
Based on the last 2+ years of answering questions, I am confident that these are the questions you’ll get - and answers you should give.
What’s an NIL Marketplace?
An NIL marketplace is a 2-sided online platform. One one side of the platform are the “sellers” made up of student-athletes. On the other side of the marketplace are the brands or "buyers.” The marketplace allows these entities to meet, negotiate, and agree on a deal to perform an NIL activity.
How much money do student-athletes really make?
The answer depends on who those student-athletes are, what sport they play, and where the money is coming from. In numerous surveys I've conducted, the media compensation for student-athletes is under $100 per activity.
What’s a Collective?
Collectives are third party for-profit or non-profit business entities created by a school’s alumni/boosters to guarantee financial opportunities for student-athletes. There are 200+ Collectives nationwide.
What about taxes and NIL?
Income from NIL activities is taxable, so a lot of the discussion is about the importance of setting aside a portion of NIL earnings to pay taxes owed. While I think that’s important, I often remind anyone who will listen of another concern: NIL earnings may impact a student-athlete’s need-based school, state, or federal financial aid or the Pell Grant.
Bill Carter is an NIL Consultant, Educator, and Speaker. He is a NIL Columnist for Sports Business Journal and teaches NIL in College Sports at the University of Vermont’s Grossman School of Business. Click here to read about Bill’s NIL Consulting and NIL Education for sports organizations, universities, and brands.