FREQUENTLY ASKED QUESTIONS
As an athlete or business hoping to sign NIL deals, you may have questions about how this would work. Here are some frequently asked questions and advice for both parties.
For Athletes
Q: What are companies looking for?
A: NIL deals are influenced by both athletic performance and marketability, so it depends on the company’s size, goals, and brand image. Many companies, especially those that are based online, look for individuals who have a sizable social media following or share the same “demographics” as their customers. Most businesses, especially if they are relatively small, will sign those who share the following size of a “nano” or “micro” influencer. Therefore, to be considered, athletes should ideally have a social media account (on Instagram, Twitter, or Tiktok) with at least 3k followers. However, the more followers one has, the more likely they are to gain interest from companies.
Q: It is important for athletes to share the same “demographic” as the businesses they attempt to sign deals with. What do you mean by “demographic?”
A: Target markets and audiences influence who a business decides to work with. Certain demographics of an individuals’ following, such as age and gender, should align and intersect with the companies’ consumers. For instance, depending on the state, some athletes are able to sign deals with fantasy sports businesses. If a prospective signee was an athlete whose followers were mostly in high school or under 21, it would not benefit these companies to sign with this athlete. Due to age eligibility restrictions, they would be unable to attract more consumers for them.
ADVICE FOR ATHLETES
As an athlete, what can I be doing to attract the interest of businesses?
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Post!
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Businesses are more interested in people who are active on social media. Posting also can help you build a larger following, which is always better for companies, especially if you’re promoting their product through a social media app. Posting on social media also maintains the interest of followers and attracts new ones.
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Make your interests clear!
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Making your interests clear (Ex: working out) can attract businesses with products or services that align with your interests. ​
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Find out what differentiates you from other athletes!
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​To attract the attention of a company, you want to stand out. If you are a good public speaker or have a lively personality, post videos that emphasize this. Companies will like this, as it will attract customers who watch any videos you make promoting their product.
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Make the first move!
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With my help, we can come up with a pitch to give businesses, emphasizing what makes you a great person to endorse their product. Companies want individuals who take initiative and who have an interest in their product or service. It’s difficult to attract the attention of businesses, but by reaching out, we can call attention to you!
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For Businesses
Q: How can I use the "demographics" of an athletes' social media following to my advantage?
A: Target markets and audiences influence who you should decide to work with. You should try to work with athletes whose followers share the same demographics, such as age and gender, as your target consumers. For instance, if your business was a BBQ restaurant in Texas, it would benefit you more to sign an athlete who had many followers from Texas than someone who had more followers, but whose followers were mostly from New York.
Q: How can negotiating a deal with an athlete be good for my business?
A: Many NIL deals consist of athletes using their social media accounts to post about the products or services of a specific business. Because some athletes have a large social media following, they can help draw customers to your business. They can help build a good reputation for your business or give your business more attention or awareness.