With LSU’s top-tier athletic programs in their backyard, numerous Baton Rouge small business owners are looking to take advantage of a new NCAA policy allowing players to profit off their name, image and likeness.
For small-business owners looking to partner with local athletes, Inc. spoke with longtime sports agent Leigh Steinberg, founder of Steinberg Sports & Entertainment agency, who gives two pieces of advice:
1) Try to find athletes who haven’t yet signed partnerships with other companies, because your advertising power is diluted when your spokesperson also represents other brands, and 2) find the right athlete—or athletes—for your specific business, rather than simply snapping up the most easily attainable player.
Steinberg recommends looking at any data or analytics available to get an idea of what an athlete could bring to your brand, and then build a marketing plan.
The market for collegiate athletes is still nascent, and Steinberg predicts it’ll take weeks or months to fully develop. Eventually, he says, it could rival the size of the North American pro sports sponsorship industry—an estimated $19.7 billion in 2020, according to market research firm Brandessence. Read the full story from Inc.