For student-athletes, social media is essential. Understanding the importance of and how to manage social media will drive everything from branding to maximizing NIL deals and preparing athletes for future careers. Social media allows athletes to control the distribution of their content, magnifies NIL opportunities, and is a core foundation of the On3 NIL Valuation.
The following data is a core foundation in the On3 NIL Valuation:
+ Social Media Following
A base valuation is generated from the number of followers on each social media platform an athlete has (Instagram, Twitter, and TikTok). Each platform is weighted differently based on the number of marketing dollars that brands and advertisers typically spend.
Athletes are assessed on how much engagement their posts and stories generate. Athletes that consistently show high engagement rates will receive a boost, while those with low engagement rates receive a minor penalty.
+ Relative Social Media Strength
Athletes are not penalized for not having strong followings across all three social media platforms. However, a boost is applied for athletes with strong followings and engagement across all three platforms relative to their peer group.
On3 NIL Valuation
The On3 NIL Valuation is the industry’s leading index that sets the standard market NIL value for high school and college-level athletes. A proprietary algorithm, the On3 NIL Valuation does not act as a tracker of the value of NIL deals an athlete has completed to date. It rather signifies an athlete’s value at a specific moment in time. The On3 NIL Valuation is comprised of many dynamic data points that focus on three primary categories:
+ Social media following and engagement
+ Athlete data, achievements, performance, and media sentiment
+ Endorsement deals, opportunities, and Collectives
NIL Course #1: Your social media platform is essential