Seizing Opportunities in Sports:
The Power of Picking Yourself
Yes, it is NBA draft week, but that is not the type of pick we are discussing. Instead, let's delve into what Seth Godin explores in his Akimbo podcast titled 'You're It'—the power and myth of getting picked. In this thought-provoking episode, Godin challenges the traditional belief that being chosen by industry powerbrokers/gatekeepers is necessary to make an impact in most fields. Today, the time to 'pick yourself' has never been more relevant, important, and beneficial for those in the sports industry who seek to transcend their on-field performance.
Whether you find yourself in a position of authority, making decisions, or waiting to be chosen, this is an exciting and transformative period in sports business. Technological advancements are driving changes in marketing, product development, and distribution. Combined with recent NIL legislation, a wave of change is sweeping through the industry, presenting an ideal moment for athletes and athletic programs to pick themselves—to build their own brands and no longer depend on others selecting them.
We are currently experiencing a time when the creator economy is disrupting billion-dollar brands and established practices. This disruption has given rise to a multitude of new brands, projects, and services. Athlete-founded companies like Moolah Kicks are emerging, while sports leagues are betting on themselves by creating their own content and streaming distribution options, rather than waiting for existing platforms to choose them.
Several factors are driving this opportunity:
Declining Big Brand Loyalty: According to the book "Billion Dollar Brands," a report on the top 100 consumer product brands revealed that 90% of them had lost market share in recent years. Consumers increasingly seek brands that align with their values and beliefs, catering specifically to their needs and preferences.
Lowered Barriers: Technology has dramatically reduced the barriers to launching new brands or targeting niche audiences. Product development, marketing, and distribution, once limited to those with larger budgets, are now accessible to individuals. Skills such as connection, community building, and storytelling are driving brand growth.
Shifting Advertising Landscape: Big ad spends are no longer the sole driver of demand. As Mark Schaefer outlines in his book Belonging to the Brand “Even if you have decades and millions of dollars the old ways of generating emotion through repetition and familiarity are largely over. We’re inexorably moving toward a content-streaming, ad-blocking world where even in the unlikely event someone sees your ad, they probably won’t believe it.” Building trusted relationships with audiences and developing credibility now presents a tremendous opportunity, and is key, to launch brands and products that will be eagerly adopted.
Nike's understanding of harnessing individual athlete brands, as exemplified by the Air Jordan partnership and subsequent development of the Jordan brand with Michael Jordan, showcases the strength of collaborative branding. However, what makes our current moment fascinating is the reduction of factors that previously made Nike's role indispensable. Production costs, time requirements, content creation, marketing, and distribution have become more accessible and affordable for individuals. Smaller brands can now reach consumers more efficiently, enabling more people to build their own brands, launch products, leagues, communities, and services directly to their audiences. Serving smaller audiences while generating significant profit is no longer a distant dream. Some refer to this as the rise of micro-influencers and micro-products, but the impact and revenue they can generate are anything but micro.
In conclusion, the time to pick yourself in the sports industry has arrived. Embrace the changing landscape, leverage technology, build relationships with your audience, and create your own path to success. The era of waiting to be picked is no longer a requirement for making a lasting impact in sports.
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