The month of March is a great time for more than just looking at the college basketball odds, especially if you own a business. The NCAA Tournament is known as March Madness for a reason, and that madness could impact how much money your company can make.
There are a number of different ways to capitalize off of March Madness, and some of those will be explored in this article. You will have to put in some work in order to get the biggest returns, but there are other ways that will make you money in the background.
Don’t sit back and watch March pass you by, but instead, seek out ways to make money for your business.
NIL Rule Changes Everything
College basketball players are now able to make money off of their name, image, and likeness (NIL), and that will provide benefits to companies as well. If you are looking for someone to market a product or star in a new ad campaign, then you should seek out some of the biggest college basketball stars.
The NCAA Tournament is known for the upsets that happen in each round, but it’s a time when certain individual players are able to shine and make a name for themselves. Use that to your advantage by getting some of those stars to work for you, and it can come with some big dividends.
The reason that hiring a college basketball player can be a good decision is that it’s not usually going to cost you very much. Those players aren’t looking to become millionaires from one single deal, but they are still going to be well-known to your consumers.
Once you get the initial deal in place, then you can sit back and watch the money come in with this new marketing campaign.
Plenty of Eyes Watching
Similar to hiring players through a NIL deal, you are going to want to use March Madness as a way to market your company. The NCAA Tournament tends to captivate the entire nation, and it’s hard to find people that aren’t tuning into those games.
Now is the perfect time to launch a new commercial on TV or run a radio spot with a company that will be broadcasting the games. You might have to pay a little extra to get that air time, but the price isn’t going to be as high as what people pay during the Super Bowl.
This is one of those opportunities to put in very little effort but still be able to see massive results on the back end of things. If you are willing and able to get your name out there, then there are going to be plenty of people that see your company name during the games.
Target Specific Fans
Even though March Madness is an event that is watched by millions of people throughout the United States, it is the sports fans that are really paying the most attention. Regardless of the company that you currently have, you need to change up your strategy to target those sports fans.
Create a product or service that the sports fan would be interested in, and you will immediately see your customer base grow. You could also look to sponsor one of the top teams competing in March, and that team will then promote your company for you.
College basketball fan bases tend to be a bit crazy during March Madness, and they are willing to soak up anything that aligns with their favorite team.
The digital content world continues to grow, and there are people creating new content all of the time. Regardless of what industry you are currently operating in, you can set up a digital content team pretty easily.
Tie in college basketball with some of the content that you create, and you will get the March Madness fans interested in what is out there. There is some big money to be made in the world of digital content, and you can actually get other companies to want to sponsor what you are selling.