Passive Income Through Naming Rights
There are many ways of generating a passive income. Some venture into video content creation and writing eBooks, while others buy stocks or invest in real estate. As long as you have more time to spare, you’ll get the extra money while pursuing your primary job.
But did you know that there’s a new exciting way of generating a passive income? It’s by selling your vacant space or property for “naming rights” where companies can print their brand’s name or logo to promote their products or services.
What are Naming Rights?
Naming rights are a form of advertising where a company purchases the right to name objects, facilities, locations, or an event for the desired period. In other words, a buyer can use your free space as a marketing property, or medium to help them build brand awareness, increase revenues, and retain customers.
According to studies, consistent brand presentation across all platforms and mediums increases revenue up to 23 percent. And with an impressive design, colour, and word use, it would only take 5 to 7 impressions for consumers to remember your brand. Companies just need the right tools and perfect location to get people’s attention.
If a company decides to use naming rights to promote their brand, the possibilities are endless. An interested buyer can name or put their brand names on billboards, buildings, parks, walls, or anywhere they want to have their name. These would generate passive earnings to the seller without exerting too much time and effort.
How Do Naming Rights Work?
Many companies would love to put their brands outside, but some companies are struggling to do so, especially small start-ups. One factor can be an un-favourable location, and second, the costly advertising fees.
If you have an unused vacant space, you can sell the rights for that space so a company can use it as a billboard to advertise their products. If you’re looking for ways to earn money for your Council, Hotel, or in fact any organisation or individual at all, start using your vacant spaces to help other corporations promote their brand and put money in your pocket!
If you own a car, selling naming rights to the buyer allows them to wrap your car with their brand’s design, theme, and colour. Your car is still your own, but you are now earning money by promoting their brand using your car.
If you are looking into financing your sports club, you can sell the naming rights to businesses that are looking to advertise. They can get their logo printed on guernseys, oval fencing, locker rooms, merchandise or even the grass itself and get their branding known to the crowd.
Though most people are now on their smartphones, nothing beats the classic, and strategic way of putting brand names on something they’ll always actually see—or somewhere they rarely expect to see branding. Seeing a brand logo with a powerful tagline, on exciting or unexpected places, can be a mysterious talk of the town. The advertising party will get a wider reach and a greater impact on their business.
Aside from billboards or spaces, you can name new streets, even name a Hotel, a Stadium or a local sports team. The brand can be stamped on restaurant menus, coffee shop tables, park benches, apparels, the list goes on and on. A buyer can even use the available space to name it after their loved ones. As we’ve mentioned, the possibilities of putting these names out there are endless.
So if you have something you think you could sell the naming rights for—and we mean everything and anything at all—then don’t hesitate to put up your listing right away. Our buyers are waiting for you.
Naming rights will greatly benefit businesses by creating unlimited exposure. It will keep their brands visible for consumers to remember without spending so much on advertising, but most importantly, you now have a unique way to generate passive income with minimal effort.
How Can I Sell Naming Rights?
Branding is crucial for the success of any business. And advertising their brand helps them stand out against their competitors. They will always look for ways to expand their marketing campaigns, where they can constantly and consistently advertise their products and services. To effectively do so, they will need all the strategic spaces and locations where they can print their name.
Companies will use NameIt.Auction to look for items, spaces, or locations to bid and put their name on. The highest bidder of the space or item you are selling will have the right to name your property. Now, how exciting is that?
Start selling naming rights here at NameIt.Auction, a passive income generating platform that benefits both buyer and seller. It’s convenient and easy to use, you get to sell your space right away. As a seller, you no longer need to waste time or exert so much effort to generate extra revenue.
Sign up and post your first auction. Start selling and generating your passive income today.