Krush Digital Advertising Agency is an advertising agency and a marketing firm that partners with local, regional, and national brands. The company emphasized the importance and benefits of collegiate NIL endorsement contracts, imparting the potential benefits that both contract parties can reap.
According to Old Gold & Black experts, the ability to profit from the name, image, and likeness is a game-changer for student-athletes, as well as for local businesses:
“For the first time in the 115-year history of the NCAA, student-athletes can now legally make money from sponsorships and brand deals using their name, image, and likeness. NIL opens the path to a college education and professional career that might have previously been an either-or choice. Olympic gymnasts like Simone Biles, Nastia Liukin, Gabby Douglas, and Jordyn Wieber offer a prime example of this change.“
On July 1, 2021, the Division 1 Board of Directors passed a policy allowing collegiate athletes to be paid for their Name, Image, and Likeness (NIL). This policy changed the way businesses view sports, from D1 down to D3.
A fully integrated marketing campaign kicked off during the OU-Texas football game. At the time it was unknown how this contract would become such a timely endorsement for both the athlete and Schwab Meats. During the second half, Williams, a true freshman, was injected into the football game as OU was trailing throughout the entire first half. Williams was credited with bringing OU back from behind and to an OU victory.
While the benefits Williams and other student-athletes have the opportunity to reap from NIL contracts are self-explanatory, local businesses as endorsers on the other end of the contract also become privy to numerous advantages and lucrative opportunities.
The most notable benefit local business contracts can attain from collegiate NIL endorsements lies in organic brand mention growth. As student-athletes participate in more games, their recognition grows while their ties to their endorsers become more apparent and often uttered in the same breath.
Local businesses are also very likely to experience growth in terms of brand loyalty and returning customers. With a fresh, young talent becoming the new face of the supporting company, more consumers will potentially link their positive dispositions towards the endorsee with the endorsing company, its products, and its services.
Consequently, the volume of sales of the endorsing company is also likely to experience a hefty boom due to the sheer fact that the brand’s company will now have a high-traffic avenue through which it could market its products and services.
However, Krush Digital Advertising Agency imparts that timing is crucial for NIL contracts. Endorsing athletes before they attain fame and massive levels of recognition could fetch endorsers a better contract price. In addition, building a deeper relationship with the athlete is recommended and necessary for the contract’s longevity and long-term vitality.
Krush Digital Advertising Agency produced the first successful Collegiate NIL contract at the University of Oklahoma with Caleb Williams.
At the time of writing this story, OU is going through a massive transformation. This further demonstrates a careful balance between endorsement fees, athlete longevity and current events will be critical pieces to consider when crafting the perfect collegiate NIL endorsement deal.