What Makes an Athlete Marketable? Finding the X-Factor in Today’s Top Endorsement Earners
When Forbes released its list of the highest paid athletes in 2020, many were surprised to see Swiss tennis star Roger Federer at the top of the list. The eight-time Wimbledon champion raked in just over $6 million in prize money last year (in 2019 Federer won over $90 million in prize money, the reduction in 2020 was due to COVID); this figure is significantly lower than the season salaries of other sports phenoms such as Cristiano Ronaldo and LeBron James, who Forbes estimated to have earned roughly $60 million and $28.2 million, respectively last season. Though undeniably a standout talent in the sports world, Federer’s unanticipated spot at the top of the list has sparked both confusion and intrigue. Where does the rest of the money come from?
Athlete endorsement deals fill the pockets of the world’s best athletes, often making up a greater portion of their earnings than the actual salaries earned playing their sport. This cash can come from a variety of promotional opportunities such as apparel deals, commercials, and various other advertising ventures. Federer made an astounding figure of nearly $100 million in endorsement money this past year, which constituted roughly 94% of his overall 2020 earnings. He has successfully turned his tournament trophies into lucrative sponsorship deals with diverse brands such as Rolex, Mercedes-Benz, and most recently, Uniqlo. Companies and advertisers are increasingly turning to athlete-driven campaigns to maximize profit and build brand awareness, but not just any athlete can make a successful brand ambassador.
Analysis of profitable individuals in the sports world such as Roger Federer demonstrate that there are many factors that influence the marketability of an athlete. It takes a certain X-factor that even the most talented athletes may not have. Additionally, successful and meaningful partnerships require time and effort. Many athletes find it challenging to manage a brand and partnership portfolio on top of the work required to be a top competitor in their sport.
Today’s top endorsement earners possess a persona that resonates with both a brand and its intended audience and authentically embody the values that companies seek in athlete ambassadors. We have outlined several of the most important off-field/court attributes that make an athlete marketable below, along with examples of today’s top earners who embody these traits.
Positive name recognition
First and foremost, brands seek athletes with positive name recognition to endorse their products. An athlete’s relationship with their fanbase and the public at large is critical in securing endorsement deals. Those who are viewed with this high regard are admired and liked even by people outside of their team’s franchise market, and their name alone sparks positive conversations.
Alex Morgan, soccer star for the United States Women’s National Team, is an example of an athlete who is admired and loved by the masses. The Olympic Gold Medalist has authored several children’s books, including New York Times bestselling series “The Kicks.” She was also recently made into a Barbie Doll as part of the brand’s Role Model Series, which highlights empowering women. Her endorsement portfolio for this past year reflects this endearing sentiment; Forbes estimates that Morgan’s off-field earnings are worth ten times as much as her roughly $400,000 salary last year, thanks to her numerous sponsors. She is undoubtedly a beloved sports star who fits this necessary marketability attribute.
Multifaceted personality and diverse interests
In order for partnerships and sponsorships to be authentic, the athlete must have a genuine interest and connection to the brand or industry. Athletes with a variety of interests and greater depth to their personalities are more likely to procure endorsement deals, as they are able to align with a greater number of brands. Brands seek athlete ambassadors who authentically reflect their products and company values, therefore being multifaceted is key to creating real and genuine connections that brands utilize to attract consumers.
Pittsburgh Steelers Wide Receiver Juju Smith-Schuster is one of the most marketable NFL athletes whose wide range of interests make him attractive to brands. When he’s not on the football field, Smith-Schuster is an avid gamer. He is one of the most-watched athletes in virtual streams and on You-Tube and Twitch videos, and has recently channelled his love for gaming into his own gaming company, Team Diverge. His passion for esports and the digital lifestyle has created authentic sponsorship alignments with companies such as HyperX and Monster Headphones. Smith-Schuster also has a significant presence and following on TikTok; his charismatic personality is always on display with his dance moves in his videos. His enthusiastic and regular engagement on different social platforms, including Instagram, YouTube, Tik Tok and Twitter, widen his audience and provide him with more avenues to spread his messages, ideas and activities. His success and high following across many platforms differentiates himself from other athletes, making him an attractive asset to brands. His demonstrated interest in a variety of off-field activities is what makes this NFL star so marketable.
Uniqueness
To maximize marketability, athletes must truly stand out both within their sport and from their teammates. Oftentimes, it is an athlete’s personal backstory or individual journey that may set them apart and garner public attention. Highlighting and embracing this uniqueness allows athletes to enhance their brand value and marketability.
Naomi Osaka is a high endorsement earner whose unique attributes bolster her marketability. The 23-year old Japanese tennis player is the highest paid female athlete ever, according to Forbes. The money she earned from endorsements last year was ten times greater than her salary and winnings; the tennis superstar has aced off-court deals with brands such as Nike, Mastercard, and most recently, French fashion label Louis Vuitton, to add over $30 million to her estimated $3.2 million tennis winnings.
Osaka’s groundbreaking achievements both on and off the court make her a unique character that the tennis world has never seen before. She was the first Asian to be ranked №1 in the women’s or men’s tennis rankings, and she became only the third female player in the decade to win back-to-back Majors after she won the Australian Open in 2019. Osaka’s story goes beyond tennis; her vocal personality, especially during the Black Lives Matter movement, has pinned her as a social justice leader in the sports world. She embraces public activism and embraces her platform to spotlight social issues and champion the ongoing fight against racism. While her marketability and activism may not be directly connected, her unconventional stance as an athlete spokesperson for a national movement makes her a standout athlete. Brands are lining up to be a part of the Naomi Osaka business.
Social media engagement
Finally, social media presence and engagement is becoming an increasingly significant factor that influences an athlete’s marketability. As more companies turn to social media advertising, influencer marketing has grown to be a powerful method for product promotion. Sponsors seek brand ambassadors who have a large and diverse audience across their platforms and are actively posting new content. Athletes who meet this criteria are very attractive influencer candidates to drive brand awareness through reaching the widest possible audience.
There is no better athlete whose marketability is driven by social media success as Portuguese soccer star, Cristiano Ronaldo. While he is #2 in the rankings for the World’s Highest Paid Athletes of 2020, he seals the top spot in the most-followed individual on Instagram, with over 254 million followers. Due to the diversity in content he posts, Ronaldo’s Instagram audience extends beyond the soccer fanatics. In fact, according to Forbes estimates, the soccer sensation receives more average likes on pictures not affiliated with his sport. Selfies, pictures of him with his family, or pictures that capture a glimpse of his everyday life are what really hit the mark with his fans. This evident engagement and global, widespread appeal have made Ronaldo a highly advantageous brand ambassador for companies such as Nike, Herbalife Nutrition, and numerous international businesses. His endorsement portfolio is nothing short of impressive, pocketing him a total of $45 million last year.
While these are only some of the attributes that contribute to an athlete’s marketability, it’s clear that it takes a certain X-factor for athletes to build a profitable brand image for themselves outside of their sport. Stars such as Roger Federer, Alex Morgan, Naomi Osaka, Juju Smith-Schuster, and Cristiano Ronaldo are primary examples of today’s top endorsement earners who have proven what it takes to be a marketable athlete.
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