Intro:
We have seen student-athletes & college marketing become a staple to businesses and their growth — we can look at student ambassador programs like Celsius, PINK, or Red Bull for examples of how these marketing strategies have allowed them to reach new customers, connect with the community & create impact for their business.
Now with NIL contracts, a whole new world of opportunities has opened up for brands of all industries including banking, food & beverage, & more.
Straightaway this opens doors for brands to reach college markets, but also huge opportunities for college athletes.
With the adoption of new NIL Policies, student-athletes are able to enter agreements to use their name, image, and likeness, in exchange for compensation.
New Opportunities:
- Banks & brands have successfully utilized sports marketing to reach potential clients and increase community recognition
- There has been proven marketing success with professional athlete ambassadors. Ex. Chase is partnering with Serena Williams and Steph Curry.
- Local, regional, or nationally focused marketing has always been a strategy for banks. Now they can get more hyperlocal by building partnerships with student ambassadors & athletes.
- The student-athlete & college market presents more micro-influencer partnerships. Strategies don’t just need to focus on large-scale athletes or macro influencers.
- Evidently, these strategies are more cost-effective & inclusive than just working with established professional athletes
- There are more opportunities for regional & local activations to help develop relationships & reach larger demographics
Check out the original article here.
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