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Top Five NIL Money Acquisition Strategies

Top Five NIL Money Acquisition Strategies

December 28, 2023

Hey there,

By now, everyone knows NIL is important. Crucially, however, no one’s “figured out” unlimited NIL growth… and they never will. As the old adage says, money doesn’t grow on trees — which is why collectives are getting creative in how they raise money.

We figured that, as an end-of-the-year present, we’d provide a resource for all you athletic department officials out there on how schools around the country are acquiring NIL funds.

So with that said, here’s the top five ways for schools to grow their NIL. Using real examples from collectives, we’re going to count down the best money-making strategies from around the NIL world.

— Cole, Justin and Collin

5. Make NIL Donations a Part of Everyday Life

One of the best ways to get people to donate to NIL causes is to make it part of their everyday routine. As life goes on, fans donate to NIL — sometimes even forgetting that they’re doing it.

Perhaps the best example of this is the credit card roundup program employed by Crimson and Cream, Oklahoma’s NIL collective. The idea is simple: every credit card purchase rounds up on the dollar, with the extra money going directly into Sooner NIL efforts. Like Acorns, but for Oklahoma sports.

4. Throw a Special NIL Event

This strategy operates on the inverse premises of the previous one. Instead of letting NIL fade into the background, collectives can put on big events to raise money.

Think about Georgia Southern’s massive NIL country concert, which is set to happen in early 2024. If you can land a big headliner (Alumnus Cole Swindell does the trick for Eagle fans), then people will see the price of admission as double effective — they’re supporting the school’s NIL while seeing an artist they probably would have paid to see otherwise. Win-Win.

If collectives want to take this method to the next level, schools could even combine this strategy with the following one.

3. Capitalize on Emotional Moments

Quick question if you’ve ever donated to an NIL effort… when did you do it? Was it a calculated decision? Or were you prompted by emotion?

I can tell you when Texas Longhorns fans did it this year — right after they beat Alabama and solidified themselves as a top team in the country. Once the champagne pops, people are much more willing to break out the checkbooks.

There are a few ways to do this. Some teams have been printing QR codes onto the stadium seating or on the big-screen during important games, which seem to be pretty effective. Live game attendees have already proven that they’re willing to pay for a ticket, what’s a few more bucks to keep the good times flowing?

One wrinkle that’s been proposed is displaying a player’s image and QR code on the big screen after they make a big play. Then fans could immediately give to that player’s NIL in the heat of the moment.

One effective method that’s being utilized by schools is the profit-share method. Essentially, collectives forge partnerships with a product. Then, for every product the fans buy, the NIL collective gets a cut of the profits.

A bunch of schools have tried this method — successfully — with alcohol. Tennessee was one of the first, partnering with vodka brands to create their very own Volunteer-themed drinks.

The best part of this particular strategy is that Tennessee sells bottles regardless of whether the team wins or loses — football fans are drinking either way.

1. Matching Programs

Every school has big-fish donors, and every so often, they get generous. Matching programs are a fantastic way to streamline grass-root fundraising with high-end donor goals.

It’s pretty easy: For every dollar donated, another donor will match the amount to a certain goal. Indiana and Nebraska actually just rolled out their own versions of this toward the end of the year, and each program saw wild success. Schools can reach some pretty gaudy totals with this method.

Honorable Mention: WIN

All of these strategies work, but their effect can only multiply by winning games. Winning is what truly riles up a fanbase more than anything else — happy fanbases are more likely to give money than unhappy ones.