Insomnia Cookies, the Philadelphia-based bakery chain with a location in West Chester, launched a sponsorship program for college athletes. Ryan Mulligan covered Insomnia Athletes for the Philadelphia Business Journal.
The company launched the program under the NCAA’s new rules that allow student-athletes to profit from the use of their names, images, and likenesses (NIL). The financial arrangements include sponsorship deals to represent companies and their products.
When the NIL rules went into effect on July 1, Insomnia’s chief marketing officer, Tom Carusona, reported being “inundated” with athletes’ inquiries. He decided, however, that a pause before accepting applications and sponsoring athletes was a prudent branding move.
“It was on our radar; we just wanted to make sure we put a uniquely Insomnia spin on it,” said Carusona.
To tailor the program to its identity, Insomnia is focusing on female athletes and e-sports players. Women between 18 and 24 years are the company’s most engaged consumers, while e-sports is a rapidly growing market segment.
“It was a great opportunity to support people who are already Insomniacs,” said Carusona.
Sponsorships will be a combination of product, merchandise, and exposure for both parties, along with financial opportunities in some cases.
More on this story is in the Philadelphia Business Journal.