NIL Brand Roadmap
Getting Started
Are you a brand or local business ready to dip your toe into your first NIL deal?
Are you part of a university’s staff looking to connect your sponsors to your student-athletes?
Are you a service provider looking for better NIL results?
After 3 years helping universities and brands - and analyzing lots of NIL data - here is step by step formula to get started or improve your NIL deals.
#1 Do a competitive analysis
A brand should complete a competitive analysis before doing an NIL deal. Follow these five steps:
Identify Competitors: Determine which other brands are actively engaging in NIL deals within the same market or target audience.
Analyze Their NIL Strategies: Examine the types of NIL deals your competitors are making. What kind of athletes are they partnering with? What activation methods are they using (social media, personal appearances, etc.)? How are they positioning their brand in relation to the athletes?
Evaluate Effectiveness: Assess the success of your competitors' NIL campaigns. Look for measurable results like increased brand awareness, social media engagement, sales lift, or media coverage.
Identify Opportunities for Differentiation: Determine how you can differentiate your NIL strategy from your competitors. Consider partnering with athletes who haven't been utilized by your rivals, exploring unique activation methods, or crafting a distinct brand narrative around your NIL partnerships.
Budget and Resource Allocation: Understand the financial investment your competitors are making in NIL. This can help you gauge the resources you need to allocate to be competitive and achieve your desired outcomes.
#2 Decide how you will “activate”
In the context of NIL (Name, Image, and Likeness), "athlete activation" refers to the specific ways in which a brand engages and utilizes a student-athlete's name, image, and likeness to promote their products or services.
The choice of athlete activation methods depends on the brand's marketing goals, target audience, and the athlete's individual strengths and interests. Effective athlete activation leverages the athlete's unique personality and influence to connect with consumers and drive brand awareness, engagement, and ultimately, sales.
Choose your brand activation(s) carefully. While social media dominates NIL (80%), my clients see greater success with diverse approaches that can include activating the partnership online, on-air, at events, and at retail.
#3 Develop your selection criteria
Your selection criteria for choosing a student-athlete for your NIL deal should be a blend of factors that align with your brand's goals, target audience, and budget:
Relevance to Your Brand
Sport: Does the athlete's sport align with your brand's image or target market? Certain sports may resonate more with specific demographics.
Values: Do the athlete's personal values and interests align with your brand's mission and message? Authenticity is key for a successful partnership.
Personality: Does the athlete's personality and communication style match your brand's voice? Consider their online presence and how they interact with their audience.
Audience Reach
Social Media Following: Assess the size and engagement of the athlete's social media following. Consider which platforms are most relevant to your target audience.
Local/Regional Influence: If your brand has a specific geographic focus, consider athletes who have a strong following in that area.
Niche Appeal: Some athletes may have a smaller but highly engaged following within a specific niche that aligns with your brand.
Marketing Potential
Content Creation Skills: Can the athlete create high-quality content (photos, videos, etc.) that aligns with your brand's aesthetic?
Communication Skills: Is the athlete comfortable speaking on behalf of your brand in public appearances or interviews?
Creativity: Does the athlete have unique ideas for how to promote your brand that go beyond standard social media posts?
Financial Considerations
Market Value: Research the athlete's estimated market value to ensure their compensation expectations align with your budget.
ROI Potential: Evaluate the potential return on investment for partnering with this athlete. Consider their reach, engagement, and potential to drive sales or brand awareness.
Additional Factors
Academic Performance: While not always a primary factor, some brands may prioritize athletes with strong academic records as a reflection of their brand values.
Community Involvement: Consider athletes who are active in their community or support causes that align with your brand's social responsibility efforts.
By carefully considering these criteria and tailoring them to your specific needs, you can identify student-athletes who are not only a good fit for your brand but also have the potential to drive meaningful results for your NIL marketing campaigns.
Remember, building a successful NIL partnership is about more than just choosing the athlete with the largest following. It's about finding the right athlete who can authentically represent your brand and connect with your target audience in a meaningful way.
#4 Determine NIL Compensation
Look into data from NIL marketplaces, industry reports, and consult with me to understand the typical compensation range for similar athletes in your desired sport and market.
Consider factors like the athlete's sport, conference, social media following, engagement rate, and any unique achievements or attributes. An athlete with a large, engaged following in a popular sport may command higher compensation.
Define the specific deliverables you expect from the athlete, such as social media posts, appearances, or content creation. More extensive or time-consuming activities may warrant higher compensation.
Determine the overall budget you have allocated for your NIL marketing efforts. This will help you establish a realistic range for individual athlete compensation. While it's difficult to predict exact ROI, estimate the potential value the athlete could bring to your brand in terms of increased sales, brand awareness, or social media engagement. This can help justify your compensation offer.
Consider offering a combination of:
Cash
Commissions
Product
Other brand experiences (internships, development opportunities)
Be upfront with the athlete about your budget and compensation expectations. Clearly outline the scope of work and deliverables you expect in return.
Read the rest of this newsletter about the NIL Brand Roadmap - a step-by-step process for any size business that wants to execute an NIL partnership.
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#5 Acquire Student-Athletes
If you don’t want to reach out directly to an athlete, consider using an NIL Marketplace like Opendorse, INFLCR, or MOGL.
Here's how you can effectively use them:
Create a Brand Profile: Start by setting up a comprehensive profile for your brand. Highlight your company values, marketing objectives, target audience, and the type of NIL activations you're interested in (e.g., social media posts, appearances, content creation).
Browse Athlete Profiles: Utilize the marketplace's search and filtering features to find athletes who align with your brand's criteria. Consider factors like sport, school, social media following, engagement rate, and interests.
Review Performance Data: Many marketplaces offer data and analytics on athlete performance, including audience demographics, engagement metrics, and past brand collaborations. Use this information to assess an athlete's potential reach and impact for your brand.
Send Personalized Outreach: Once you've identified potential athletes, reach out to them through the marketplace's messaging system. Personalize your message by mentioning specific aspects of their profile or achievements that resonate with your brand. Clearly outline your proposed NIL collaboration, including the scope of work, compensation, and any other relevant details.
Negotiate and Secure the Deal: If the athlete expresses interest, use the marketplace's tools to negotiate terms, finalize the agreement, and manage the logistics of the collaboration. Some platforms even offer features like secure payment processing and compliance tracking.
#6 Brand Training
Formal brand training for student-athletes is crucial for a successful NIL partnership. It ensures athletes understand the brand's values, messaging, and expectations, enabling them to represent the brand authentically and effectively.
Here are 10 tips for how brands should approach this training:
Brand Overview: Provide an in-depth overview of the brand's history, mission, values, products/services, and target audience.
NIL Program Goals: Clearly define the goals of the NIL partnership and how the athlete's role fits into the broader marketing strategy.
Product Knowledge: If applicable, offer detailed information about the brand's products or services, including features, benefits, and target customers.
Hands-On Experience: Allow the athlete to try out products or experience services firsthand to develop a genuine understanding and appreciation.
Social Media Best Practices: Provide guidance on creating engaging and brand-consistent social media content. Share examples of successful posts and campaigns.
Brand Voice and Tone: Explain the brand's personality and communication style. Offer tips on how the athlete can incorporate this into their content.
Content Approval Process: Establish a clear process for reviewing and approving any content before it's published.
Regular Check-ins: Schedule regular check-ins with the athlete to discuss their progress, answer questions, and provide feedback.
Open Communication Channels: Establish clear communication channels so the athlete can easily reach out to brand representatives with any concerns or questions.
Resource Hub: Create a central repository of brand assets, guidelines, and resources that the athlete can access at any time.
Final thoughts on brand training…
Make it Engaging: Use a variety of training methods, such as presentations, videos, interactive workshops, and Q&A sessions.
Personalize the Experience: Tailor the training to the athlete's specific role and interests.
Encourage Creativity: While providing guidelines, allow the athlete some creative freedom to express their personality and connect with their audience authentically.
#7 Manage and Track ROI
Tracking ROI on student-athlete partnerships can be challenging, as the impact often extends beyond direct sales. However, with a comprehensive approach, brands can effectively measure the success of their NIL campaigns. Here's how:
Set Clear Goals and KPIs
Define Objectives: Determine what you want to achieve with the partnership (e.g., increase brand awareness, drive website traffic, boost social engagement, generate leads, increase sales).
Establish Key Performance Indicators (KPIs): Identify specific metrics that align with your goals, such as social media impressions, engagement rates, website traffic from referral links, new followers, mentions, or sales attributed to a specific athlete's promotion.
Utilize Tracking Tools and Methods
Social Media Analytics: Use platform-specific analytics (or third-party tools) to track impressions, reach, engagement (likes, comments, shares), and follower growth attributed to the athlete's posts.
Website Analytics: Monitor website traffic from the athlete's social media channels or unique referral links. Track conversions (e.g., sign-ups, purchases) originating from these sources.
Promo Codes/Unique Links: Provide the athlete with unique promo codes or trackable links to monitor direct sales or conversions attributed to their influence.
Surveys and Feedback: Conduct surveys or gather feedback from customers to gauge changes in brand perception, awareness, and purchase intent after exposure to the athlete's content.
Isolate the Athlete's Impact
Control Groups: If possible, compare the performance of campaigns featuring the athlete to similar campaigns without their involvement.
Time-Based Analysis: Analyze data before, during, and after the partnership to identify any significant changes in KPIs.
Attribution Models: Use attribution models (e.g., first-click, last-click, multi-touch) to assign credit for conversions to different touchpoints in the customer journey, including the athlete's influence.
Qualitative Assessment
Brand Sentiment: Monitor social media conversations and online reviews to gauge changes in brand sentiment and perception following the partnership.
Media Coverage: Track media mentions and press coverage generated by the partnership to assess its impact on brand visibility.
Stakeholder Feedback: Gather feedback from internal stakeholders (marketing team, sales team) and external partners (retailers, distributors) to assess the perceived value of the partnership.
Calculate ROI
Estimate Revenue: Determine the revenue generated directly or indirectly from the athlete's promotional efforts.
Calculate Costs: Factor in all costs associated with the partnership, including compensation, content creation, and campaign management.
ROI Formula: Calculate ROI using the formula: (Revenue - Cost) / Cost * 100%. A positive ROI indicates a profitable partnership.
About Bill Carter
Bill has advised brands on Name, Image, Likeness for 25 years—first in pro sports, now at the college level. He was the Co-Founder of the Gen Z sports agency Fuse, which he sold in 2019. In 2020, he founded Student-Athlete Insights and consults on NIL strategy with Fortune 500 companies and 30+ DI universities. Read more about Student-Athlete Insights.