Consider this scenario: you work your tail off in high school and college, giving it 150% on and off the court. You’re the ideal athlete: you show up on time, put up extra shots, volunteer, get good grades, and more. You’re ‘that athlete’ who is the perfect candidate to get NIL deal. But your high school career carries on, you go on to play college ball, time passes, and you don’t hear from any NIL sponsors. How is it possible to be overlooked like that? I know it must feel defeating, especially after putting in a ton of work, and having the desire to utilize your NIL.
The truth is, there are so many athletes who play in college, and with that comes a limited number of sponsorships and brand partnerships. If you’re not approached by a company or brand, there are actually many other opportunities for you to earn additional income beyond traditional sponsorship agreements. Whether you’re a college athlete or a professional looking to diversify your revenue streams, here are 10 creative ways you can monetize your NIL despite not being approached by big brands.
10 Ways Athletes Can Monetize Their NIL
- Personal Brand Merchandise: Create and sell merchandise featuring your personal brand logo, catchphrases, or signature moves. From t-shirts and hats to phone cases and water bottles, there’s a wide range of products you can offer to your fans. Although building a merchandise business takes time, once you get it off the ground its a great way to earn income.
- Online Coaching or Training Programs: Share your expertise by offering online coaching or training programs in your respective sport. You can provide personalized workout plans, technique tutorials, or even host live Q&A sessions for aspiring athletes. Many times, parents of like working with talented collegiate athletes, especially when they have up-to-date access to nutrition tips, workouts and other strategies to help train their clients.
- Social Media Content Creation: Monetize your social media platforms by creating engaging content related to your athletic journey. Whether it’s behind-the-scenes footage, training montages, or lifestyle vlogs, building a strong online presence can attract sponsorships, endorsements, and partnerships. Having a business that creates social media content can be super convenient for athletes, as you can block out a few hours each week to create and schedule content for your clients. Delivering consistent, unique material can help you build a business that can grow and remain profitable after you graduate.
- Paid Virtual Events or Workshops: Host virtual events or workshops where fans can interact with you directly. This could include virtual meet-and-greets, skill clinics, or exclusive webinars where participants pay for access to your expertise. Consider having a niche offering or skill-set that can help you stand out from other workshop hosts. As an athlete, presenting on topics that can benefit your audience can help you separate yourself from the competition.
- Brand Collaborations and Endorsements: While traditional sponsorship agreements may be elusive, seek out collaborations with brands that align with your values and personal brand. Offer to promote their products or services through sponsored content on your social media channels or website. Start by doing your research, make a list, and focus on partnerships that you’d like to target before beginning your outreach. The larger your list, the bigger potential you’ll have to earn cash or in-kind payments.
- Affiliate Marketing: Partner with companies as an affiliate to promote their products or services to your audience. You can earn a commission for every sale generated through your unique affiliate link, making it a low-risk way to monetize your influence.
- Public Speaking Engagements: Share your story and insights as a motivational speaker at conferences, schools, or corporate events. Your unique perspective as an athlete can inspire and educate audiences, while also generating additional income. As a speaker, you can schedule your appearances during times that are convenient for you, such as nights, weekends, or during the off-season when training and competition isn’t at it’s peak.
- Patreon or Membership Platforms: Offer exclusive content, perks, and experiences to your most dedicated fans through platforms like Patreon. Fans can subscribe to access premium content or perks, providing you with a steady stream of income.
- Licensing Your Content: License your photos, videos, or other content to media outlets, brands, or advertisers for use in their campaigns. By retaining ownership of your content, you can negotiate licensing agreements and earn royalties over time.
- Crowdfunding Campaigns: Engage your fan base and community by launching crowdfunding campaigns for specific projects or initiatives. Whether it’s funding your training expenses, supporting a charitable cause, or pursuing passion projects, crowdfunding platforms offer a platform to rally support and generate income. Don’t discredit the power of crowdfunding and your ability to give back to organizations or causes that mean a lot to you.
I’ll be honest- I’m pretty sure that if NIL existed when I went to school, I probably wouldn’t have been approached by top brands. Even as a DI athlete, I played for a mid-major school in the Northeast Conference. While I might not have been approached by sponsors, that would not have stopped me from building my own brand and finding ways to profit off of my name, image and likeness. Additionally, there are so many ways athletes can make money ‘while they sleep’. For example as a social media marketer, you don’t have to constantly be on the computer or on your phone creating content for your clients. By utilizing tools like Hootsuite or the business scheduler on Meta, you can create and schedule content in advance, allowing you to focus on school, sports and other obligations you might have.
In today’s digital age, athletes have unprecedented opportunities to monetize their Name, Image, and Likeness beyond traditional sponsorship agreements. By exploring these creative avenues, athletes can diversify their revenue streams, engage with their fanbase, and maximize their earning potential. Whether you’re a college athlete or a seasoned professional, embracing these strategies can help you unlock new opportunities and achieve financial success outside of the game.