Woodard, who worked on Buick's Woods campaign, said that Woods' reach to consumers has narrowed. Where parents might have outfitted their children in Nike from head to toe because of Woods' endorsement, now they might think twice, Woodard said.
"Now all of a sudden, you've got this morality issue that can't be ignored because the press is all over it," Woodard said. "Now you, as a parent, have to make a decision: 'What do I say to my kid?'"
Older, more conservative Woods fans, he said, also may be turned off.
As a result, experts said the controversy means that Woods' future contract negotiations might yield less lucrative results than deals he struck in the past.
Still, some say, the change may be minimal.
"If he's predicted to make $120 million next year, he may actually only make $105 [million]," Watkins said. "Is that such a bad thing? It's all relative."