State Farm has signed USC star JuJu Watkins to an NIL agreement to increase its investment in women’s sports.
State Farm is further increasing its investment in women’s sports with two new deals.
The insurance giant announced Monday that it has entered into a NIL (name, image and likeness) agreement with college basketball star JuJu Watkins. Last week, the company also announced its sponsorship of Unrivaled, a new 3×3 women’s basketball league.
“We want to make sure we’re representing the diversity of the customers we serve,” said Kristyn Cook, principal agent, sales and marketing officer at State Farm.
State Farm will launch its NIL partnership with Watkins, who will star as the “New Neighbor” in co-branded advertising with State Farm mascot/spokesperson Jake.
Watkins was a five-star recruit who finished her freshman season at USC, averaging 27.1 points per game. Now in her second season at USC, she has helped the team get off to a 4-0 start.
“It’s an honor to partner with State Farm. Not only are they one of the biggest brands in sports, but they have been investing in basketball and the women’s game for decades,” Watkins said in a statement.
Meanwhile, State Farm’s agreement with Unrivaled, which kicks off its inaugural season in January, will give the insurance company a prominent presence at Unrivaled’s properties throughout the season and postseason.
State Farm’s investments in women’s sports now include the National Women’s Soccer League, National Women’s Basketball Association, National Collegiate Athletics Association Basketball regular season and women’s Olympic basketball and volleyball.
Last year, the company signed a contract Its first NIL transaction With basketball phenom Caitlin Clark.
Historically, State Farm’s support of women’s sports goes back many years. In 2015, the insurance company launched an ad featuring former WNBA star Sue Bird.
“We’re very proud of our decade-long investment in women’s sports. So we’ve seen the business value firsthand,” Cook said.
State Farm says its investment in women’s sports is already paying off.
Company discovers TV commercials featuring Clark Efficiency increased by 46% According to analytics firm EDO, it increases consumer engagement more than regular State Farm ads. When State Farm ran these ads during Iowa Hawkeyes games, performance increased by an additional 28%. On Thursday, the insurance agency released a new ad featuring Clark titled Rookie moves.
Cook said the company’s marketing data shows that investment in women’s sports is not only profitable, but that the fan base is digitally savvy and loyal.
She said more women are becoming small business owners and others are making more financial decisions, so State Farm’s strategy of participating in the women’s movement is not only important, but makes smart business sense.
“I think every brand should be asking, ‘How should women’s sports be part of their business strategy?'” Cook said.
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