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The world of sports is not just about the game’s thrill but also a hub for commercial opportunities. Athletes today have become influential brand ambassadors and influencers. They are not only expected to perform exceptionally well in their respective sports, but they are also required to show their marketability skills by endorsing various products, services, and even other brands.
The process of using an athlete’s persona to promote a product or brand is called merchandising. Damarius Bilbo and Klutch Sports will give an overview of how merchandising and licensing contracts influence brand promotions by your favorite athletes.
1. Building a Brand
Athletes are the ultimate brand ambassadors for their respective sports. For instance, Michael Jordan is the face of Nike’s Jordan brand, Serena Williams has her line of clothing, and Lionel Messi is the face of Adidas. Merchandising allows them to create their brand identity and personal style and increase their popularity among their fans.
2. Building Business Relationships
Merchandising allows athletes to develop business relationships with brands outside their respective sports. This not only helps to increase their endorsement deals but also improves their public image. The athlete’s association with a brand can increase sales for the respective company while cementing the athlete’s reputation as an expert in that field.
3. Brand Integration
Athletes can contribute to brand promotions by creating brand integration. Brand integration techniques include product placement in their sports activities, athlete endorsement commercials, and even appearing at industry events. These strategies help brands to build brand awareness, expand their market share, and maintain brand loyalty among athletes’ fans.
4. Expanding Awareness
The influence of an athlete extends beyond their respective sports fields. The audience for their brand expands to their fans, who often become die-hard advocates and evangelists that promote the athletes’ brand and its associated products. With a loyal fan base in tow, it doesn’t take much for a brand to achieve brand awareness and growth. As such, merchandising and licensing contracts play a critical role in the athlete’s exposure and expanding awareness of the athlete’s brand.
5. Financial Growth
Merchandising and licensing contracts help athletes to grow their financial portfolio further. The more popular and in demand the athlete becomes, the better their endorsement deals and financial status will be. This is why many athletes and sports teams today often seek out such arrangements, as they can often provide a sizable return on investment.
6. Establishing Athlete Legacy
For an athlete, their image is their biggest asset. Merchandising allows athletes to maintain their legacy and work for them even after retirement. Often, athlete-branded merchandise such as clothing, shoes, and other products continue to be in high demand for years. As such, athletes see merchandising as a way of establishing their legacy beyond their athletic careers.
7. Providing Valuable Marketing Opportunities For Brands
While merchandising provides athletes ample opportunities, it is also a valuable brand marketing tool. The association between the athlete and the brand often catalyzes the company’s growth and expansion. Companies get an endorsement from a well-known figure that helps them expand their marketing reach and engage more customers. It’s a win-win for both parties.
Conclusion
Merchandising and licensing contracts have proved to be significant drivers of brand promotions by athletes. These facilitate financial growth, allow athletes to expand their brand’s reach, and establish their legacy beyond their sporting field. This association with athletes provides a unique opportunity to increase brand awareness and engagement. Indeed, merchandising and licensing contracts have become vital ingredients in building the athlete-brand ecosystem. Klutch Sports and Damarius Bilbo are prime examples of how sports agencies and agents can influence brand promotions for athletes and help them secure more lucrative deals.
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