March Madness provides not just memories but marketability for college athletes looking to profit off name, image and likeness rules.
At the same time, Prince can’t help but imagine how much more progress she and other athletes in similar positions could have made had they been able to capitalize immediately on their moments in the sun.
In the meantime, as another go-round of March Madness approaches, experts expect circumstances to be different. Going into this year’s tournaments, companies have made adjustments and are applying a full-court press. A typical social media influencer, Floyd said, has an engagement rate between 1 and 2 percent — the portion of a person’s followers that share, like or comment on their posts. College athletes average an engagement rate of about 20 percent. That's an enormous bang for your buck if you’re a company looking for exposure.
It’s possible you might even watch a March Madness game on television and see a commercial that features a college athlete pitching a product, though CBS Sports chairman Sean McManus said early this month that he was not aware of the content of all the ads the network sold for the Tournament.Sports consultant Alex Sinatra co-teaches an NIL course at Texas A&M law school. One thing Sinatra tries to emphasize is that an athlete’s value is not entirely dependent on their performance.
“People might not know who you are, so you can kind of reinvent yourself if you want,” Sinatra said. “You have the opportunity to really showcase who you are as a person at these tournaments. Yes, your athletic ability is on display. But you also have the ability to show the more-than-an-athlete side of your life as well, and a lot of times, brands and consumers connect with that sometimes more than how good of an athlete you are.
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