how to set speaking fees

December 6, 2020 0 Comments Uncategorized

No conference anywhere in the world would pay all speakers equally because all speakers are not equal. ; this particular hotel chain’s event costs average $1,000 per attendee. Have you taught on this topic at a university, or written a book, or achieved a level of respect because of your work? 3. Don’t Risk Setting Your Fees Too High It depends on what industry you are looking at also. How to Increase Your Speaking Fee Re-examine what speakers do for events. This term refers to someone who is selling another person -a trafficker or slave owner. This very simple formula helps me determine if it is wise for me to accept the gig if the organization already has a set budget, and/or how to write up a proposal if they are leaving the speakers fee up to me. For instance, I want to provide speaking lectures on Conservation, but I don’t want to be the 30K speaker. (from the conference point of view), How much is that value worth to us? There is value in the karmic activity, I suppose. 10 top-tier sponsors at $10,000 each: $100,000, 15 middle-tier sponsors at $8,000 each: $120,000, 20 low-tier advertisers at $5,000 each: $100,000. If you charge, you had better be able to illustrate that you will put butts in seats to the organizer. (all fictional) This conference has exactly the audience we value as customers. Talking Jones Soda with Maisie Antoinello, In the Headlights, December 2, 2020: Your 2021 Marketing Challenges, Viewthrough Conversions, Dashboards, {PODCAST} In-Ear Insights: Viewthrough Conversions and Attribution Analysis, How much value do we bring to the event? The answer depends on a few things. But if I paid everyone who spoke or paneled at Explore $500, I’d be running at about a $5-10K deficit for each event. Nothing wrong with the exercise, of course, but for your 300-person event above, your net profit (after paying organizer salaries and everything) is going to be about $30-$40K. Want to find out more about speaking fees? They help you to explain the value of your services and validate your prices. And you’re right, this is slanted towards the speaker. Your speaking fee baseline is $25,000, and you are going to speak to an audience of 1,500 people. If you charge, you’re going to have to accept that you will get far fewer opportunities. Required fields are marked *. (generally speaking, if an event is paying you, a third party shouldn’t be, because it’s potentially cannibalizing from their paying sponsors). Your email address will not be published. Here are just a few things to take into consideration: There goes 75% of the fee, leaving you with $388. There are far too many good speakers out there who do value the opportunity to speak and will not ask for any fee to fill a roster of good talent. The speaker must provide an invoice as documentation for payment of the fee. Is this w… Your email address will not be published. Tactics and Strategies? Offer fees commensurate with the value you provide to an event, and understand the economics of events to understand how much the event is likely not to offer. Our speaking fees scale with the value we provide: the more credibility, networking, and reach we bring, the greater a fee we can command. A speaker who stays at an event for more than just their speaking slot is more valuable to the event. But prior to that, I had been a youth pastor and had done some speaking there. We ideally would know the lifetime value of our customers. It may not always be easy to determine the amount ahead of time, but it is a step that can help things run more smoothly. Try it for FREE. I do not have a policy about paying speakers other than if you are coming to my event to help put money in my pocket, I will absolutely cover your travel. You have been making some waves around the United States, and building your local and national audience, but it would be very beneficial for you to break into the European Market. Instead, look at each speaking and training engagement on an individual basis. You Ask, I Answer: Creating Content for Search Engines? 4. The hotel hosting the event cost approximately $150,000 for space, catering, labor, etc. Don’t forget that event organizers will pay up to their budget. I could baseline my likely outcome from a new event based on previous similar audiences. In this all-new, completely-rewritten 2nd Edition of AI for Marketers, learn: Copyright © 2020 Christopher S. Penn. Speakers may include subject-matter experts, guest authors, artists and performers. That said, I could not afford myself at my own events. Do you have a book you could offer for free or at a deep discount? If you do speak on behalf of a direct sponsor, remember to disclose your affiliation per FTC guidelines, and know that some events may discourage direct sponsorships. Plus, everyone likes to see a menu of available options. I would rather take less and at more volume so important conservation messages get out there… how do you say that you are the “value” speaker? (from our point of view), 5 top-tier sponsors at $25,000 each: $125,000, 10 middle-tier sponsors at $12,500 each: $125,000, 15 low-tier advertisers at $10,000 each: $150,000, 15 customers x $50 = $750 saved in customer acquisition costs, 15 customers harvested per event x $200 net customer value = $3,000, $15,000 – $3,000 = $12,000 discounted fee, 5 practical applications of AI in marketing, Key questions to ask of any vendor claims about AI, How to prepare your company and your career for AI. Or they quote a fee to a grassroots group for whom I would be happy to do an unpaid fundraiser. But this opened my eyes to new potentials. Sorry. Say we’re a famous coffee shop owner speaking at the Annual Coffee Lover’s Convention. Depending on your reach and network, a company can sponsor you directly to speak at an event. For those who do not have a set fee, it would be a good idea for your church to set aside a portion of its budget for guest speakers. We must know our effectiveness as a speaker in acquiring customers from events, measured with tools like web analytics, marketing automation, etc. This is a more complex question than we might initially think. This would make your average session rate $1,550. Good luck! 10 Tips to succeed as a professional speaker, 5 Steps for Building a Great UX Writing Portfolio, The Improbable Case of You: Diving Into Imposter Syndrome, Why open office design makes you less productive, 4 Books To Help You Survive A Dysfunctional Workplace, Getting Through a Job You Don’t Like to Get the Job You Love, Booking agents’ fee/assistant’s salary (, 1-hour consultation with the organizer on how to customize the talk to their specific audience, A 30-minute talk (remember: this figure will change based on the event), Slides customized with the event’s logo. But then, you’d have to put me on a panel . Good stuff, Chris. Visit her online at www.conniepodesta.com. You can always scale this to the event, charging an extra $250 in your fee for full weekend retreats, and $75 for single events. The Attendee: Who is your attendee? Right now it’d be all theoretical. Consider offering knowledge packages as part of your speaking fee, such as: Any of these activities helps to justify a higher fee because our knowledge is available to the conference’s attendees for a longer period of time. Your speaking fee is at your discretion. By allowing them to pick the appropriate services for their event, you will create a sense of maximized value. Some academics earn speaking fees of $1,000 or more. What if you want to do some pro bono sessions? I don’t create a weekly email newsletter or daily social media and blog posts purely for the fun of it (though it is fun). I’ve heard some speakers ask for $50K, $75K, even $30K. While many event organizers throw around the word “exposure” ad nauseum, sometimes having access to that new and ideal audience can make a huge difference to your business, and ultimately, your bottom line. Let’s say you made $70,000 last year doing 45 speaking engagements. If an event breaks even and the organizer hasn’t paid him or herself a salary or compensated themselves for their time, it hasn’t broken even. Do you have access to a mailing list where you could promote the event? You Ask, I Answer: Advanced Social Media Strategy Tip? You’ve just waltzed off the stage to roaring applause, and the event organizer hands you a check for $2K for a half hour presentation: you have the perfect job! Each individual speaker is responsible for generating $300,000 / 20, or $15,000 in attendee revenue. This would work out to a yearly income of $17,460. The ultimate guide to setting your speaking fees 1. I don’t often have a “stock” answer. They help you expand to suit a wider audience. What’s really being asked of us are two separate questions: To answer these questions, we must first understand speaker value. Can you use your influence to put them into contact with other experts who could speak or conduct training at the event? You can get very technical about this. Deduct the cost of hosting the attendee – $1,000 per person for this hotel chain – and speakers would generate a net revenue for the event of $300,000. Here’s the $64,000 question then – how do you go about valuing the audience when you’re on the speaker side, and how do you present that value to the speaker on the conference side? Well, this is certainly an interesting take on it, though certainly a bit slanted toward the speaker side of the aisle, as I’m sure you know. Will you promote the event on social media? In this guide we explore how to factor these costs into your fee, how to research events to find the right fee for the event, when to offer discounts, and when you should, or should not, speak for free. We have some additional resources for you. Know Your Per Hour Rate The next thing you need to set is your per hour rate. Here are my calculations from that time, a formula I still use to this day that works like a charm! You are testing brand new content, and want to try it out in front of a live audience. Now divide this list into the categories based on high-level, mid-level, or low-level. I’m supposed to put money in your pocket on my own dime? Thus it’s reasonable to ask for a percentage of the net revenue for attendees as a fee. You get to excite audiences about something you are passionate about, and the $2K feels like a lot of money for a few minutes on stage. I can assure you that one speaker at $15K would have bankrupted the effort. Notify me of follow-up comments by email. Can you offer 1-on-1 consultations at the event for a few key attendees? 3. You Ask, I Answer: Top 6 Marketing Persona Mistakes? The ultimate guide to setting your speaking fees 2. Networking with other speaker friends has helped me adjust my fees. If we re-examine the holy trinity, attendees don’t generally show up at a conference to hang out with sponsors. Your math is awesome in theory, but it’s not practical. Sometimes an event will help you access a completely new audience, promote your organization or service, and increase your influence. So, where do you fit on this scale? Could you put the organizers in contact with potential sponsors? You feel great. Will it include multimedia, like a video? If we’re speakers as a profession, we should be measuring on the number of new speaking opportunities (and their revenue value) from previous events. OUTSIDE this fishbowl, industries pay well for qualified, experienced and personable speakers. To learn more about booking Connie for your next event, or finding out about speaker fees, follow Keynote Speaker Connie Podesta! Step 1: Figure out what the base offerings are that you want to include for every tier. Oh, and it wasn’t profitable beyond expenses. I hope this explanation of how to set your speaking fee is useful and helpful to you if you’re considering a speaking career. Check out this pricing example from The Economist. If they are willing to pay $10,000 but you only charge $1,000, you are losing out on $9,000. Your speaking fee baseline is $25,000, and you are going to speak to an audience of 1,500 people. As a Motivational Speaker, What Should I Charge? Do the math … ain’t easy. The exposure you would get could help bring you the new, European client base that will help you bring your business to the international level. There are also additional things you can offer (aside from your presentation) that you can use to bolster your fee. One of the questions I’m asked most is what my speaking fee is for any given event. But how do you figure out what they can afford? The different price points can show you have offerings for all types of events, to suit their needs and budgets. How to Charge Consulting Retainer Fees. What is fair based on how much the event is bringing in and the value you offer? And I know I am infinitely lucky to have people like this in my network and who are so generous with their time and energies for me. Now, of course, that doesn’t mean they have $470,000 to spend on speakers. You Ask, I Answer: Estimating YouTube Ads Performance? I can assure you very few speakers ask for $500. If you know your cost of customer acquisition, and you know the likely response rate from an audience, you could discount your speaking fee by your projection of new customer acquisition from the event. Cut that in half for the venue ($235,000) Then in half again for all the additional costs: (everything from coffee to Facebook ads) you are looking at roughly a $117,500 speaker budget. You’d be hard pressed to convince me that unless they’re the ONLY speaker at a 5,000+ person event where each participant pays $1000 to get in, that anyone is worth that for an hour talk. I have a standard fee, plus travel. The same event with 40 speakers would mean each speaker would only generate a maximum of $11,250 in attendee revenue. Once you have this, use it as the minimum fee you will speak for. If you are popular and have a dedicated audience you know will show up, and if, when you share the event on social media, people will click the link and buy a ticket, (for the above example, 39 tickets will cover your fee) then you can feel comfortable quoting the $11,750 or more — however if you are not very well known, or this is a new audience for you, you will probably have to be satisfied with a smaller cut of the speakers’ budget. For some events, he charges a flat fee, sometimes he charges a fee based on the number of people participating in the program, and other times he charges an hourly rate. My fees outside of social media are $10k (which is really a workshop), and professional friends of mine routinely get $25k. As someone that wants to get into the speaker game, I can tell you if you can put me up at an Embassy Suite for the length of the conference, I’m there, and I can give you anywhere from 20 to 60 minutes of dynamite entertainment. My very first legit speaking engagement, I was paid $1,000 to speak one time. With all the world being a stage as it were, aren’t we, merely the players, producing our own sales piece? They know what they are getting because they choose it based on what they need. 90% of people I approached who asked for a speaking fee (up to £5k) would usually settle for speaking for free if we covered reasonable expenses. Sometimes an event’s audience is so valuable in terms of influence and new client acquisition, that you can waive your speaking fee entirely, even covering your own travel and expenses — this is often the case with large-scale, international events like the TED Conference, TechCrunch Disrupt, World Business Forum, SXSW, or The World Economic Forum…just getting on the stage will instantly increase your influence and gain you new clients. Some events can afford to pay their speakers more, and some cannot, so you need to adjust accordingly. For example, if a conference wants a speaker to be present for the full three days of the event, mixing and mingling with attendees, the speaking fee would be the day rate multiplied by three. Are you an expert on the topic you will be presenting? Since I’ve run a fair amount of events, I’ll offer these additional thoughts: 1. How would you market “against” the norm? That math doesn’t work. Can you offer to do an additional Q&A or to be a panelist in a discussion? Unfortunately, the economics of events are incredibly prohibitive to pay every speaker or even use the kind of math you’re suggesting to assess the value of a speaker. So flexibility is requisite and understanding as a speaker that not all events are created equal will help you stay booked. Go to SpeakerHub’s event page and start applying for events looking for speakers with your skills. This is largely because my event series is young and we haven’t yet fine-tuned the product to make it optimally profitable. So how do you decide on your price points and what to include in each tier? ... How to Set Fees … But let me give a big caveat to that… You need to actually be a halfway decent speaker. Former President Jimmy Carter "seldom accepts speaking fees," The Associated Press wrote in 2002, "and when he does he typically donates the proceeds to his charitable foundation." The final step is to add the base pricing for each tier, list the benefits and put them into packages. I worked for a company doi… That way I have another formula that is easy for me fall back to when I am flattered by an invite, but realistically isn’t a viable event for my career or my accountants liking. You could also sell each service separately as add-ons to your speaking fee. We improve the value of our reach through the growth of our own personal brands. Let’s look at an example. I recently attended an event with these ticket prices: The event grossed $850,000. The one thing I don’t want to do is tell potential clients that my speaking fee is $5,000.00, but in their case, I’d take $2,000.00. Occasionally, an agent makes a mistake and quotes a fee that is totally inappropriate given a group’s budget. But then, by the end of the year, you are coming up financially short. The three steps below will help. Using the previous speaking fee cap of $15,000, if 150 people are in attendance at the audience and we know from past appearances at events that we could harvest 10% of the audience as customers, and our cost of acquisition outside of speaking is $50 per customer, then we could reasonably discount our speaking fee: If we want to kick it up a notch and we’ve done the hard work of calculating customer lifetime value, then we might have math that looks like this: This approach relies heavily on analytics and insights. For example: Any of these activities helps to justify a higher fee because the conference is leveraging the power of my reach to audiences they may not necessarily have access to. by Christopher S Penn | Jan 18, 2019 | Advertising, Conferences, Marketing, Speaking | 12 comments. This will factor in to your fee. Many event planners, as noted in comments on previous editions to this post, make the very valid point that the event provides value to the speaker as well. In the world of conferences and events, there’s a “holy trinity” of value factors that make an event valuable: audience, sponsors, speakers; I learned this first from Jeff Pulver and Chris Brogan. This was originally posted on SpeakerHub Skillcamp. 4. Are you a licensed clinician, are you certified in a particular specialization? (Why you asked for conference organizers to chime in, I’m sure.). We must know our cost of acquisition outside of speaking. How to develop multiple revenue streams as a speaker, How much should you charge? Can I ask an opinion? We improve the value of our knowledge through continued self-improvement; however, from an event perspective, we improve the value of our knowledge through accessibility. Let’s say this event had 20 speakers in total. From your last event, you know that around 10% of the audience will turn into paying clients, and normally, your cost of acquisition is around $100 per client. 2. Transforming People, Process, and Technology, Part 1. I had an eye-opening, “come to Jesus” moment with the wonderful, Scott Stratten. Have you included your benefits and taxes? Privacy Policy, Compliance, and Disclosures. When I someday run a conference that has paid speakers, I’ll be more qualified to talk about the other side. For example, if a conference wants a speaker to be present for the full three days of the event, mixing and mingling with attendees, the speaking fee would be the day rate multiplied by three. For example, I’ve been exceptionally flexible myself when the audience directly benefits my employer and I can see that one or two sales opportunities would easily pay a speaking fee 10x over, but for folks not marketing an enterprise product that costs thousands of dollars, how do we help them determine audience value? I once asked this question in 2008ish to Chris Brogan. And stick to the rule. Clinton has scaled back his speaking schedule, however, to support his wife as Secretary of State. There’s a third hack many speakers overlook: speakers don’t necessarily have to be paid by the event. Mari's Speaking Fee Formula. If a host demanded I do no promotion of my own services or the charity work I do in the Islands, it would be a no go. Step 3: Set the prices for each individual add-on, and create packages. The best place to start is with the information you can easily assess: the ticket prices and sponsorship. Event attendees cost money, and without those expenses there would be no event for us to speak at. I think alot depends if I can sale my products too. If we understand the audience, who is at the event, we could reasonably infer our performance from previous events to similar audiences. This means you will probably end up saving $15,000 in new client acquisition costs, meaning you could reasonably discount your speaking fee by 40%. More if necessary. Will you be there for the entire event, including the coffee breaks and after party for networking? The next logical question is, what’s the monetary number on the value a speaker provides? You are emailing back and forth, and it turns out the conference only has a speaker budget of $2,000. The minimum fee is not a session rate that you blindly stick to. Say the audience is 300 people, and you have a book that wins you $10 for every copy sold. Multiple tiers help “anchor” event organizers into paying more. Be forewarned, by listening to well-meaning people who pump you up and tell you to “charge what you’re worth,” you could wind up penny wise and pound foolish. His fee for speaking about health care, government and politics, and retirement and aging was listed at $50,000 at one time, though. Lastly, I limit the amount of non-speaker fee events I’ll speak at a year, between 1-3, such as one local, one national, and one international. Do you have experience that others trust? 1. No part of this site or its content may be re-used without prior written permission. From your minimum fee, adjust the fee appropriately. Do the math. As a Web Developer, if I walk away with 10 new leads for projects, that makes up for the fee I forego. We also provide value through our reach, how many members of our audience we can convince to attend the events we speak at. While I speak at social media type conferences for free, I can’t any longer – at least not when they refuse to cover expenses. I do not speak for free. It’s all about the contrast. Step 2: Come up with a list of everything else that you could offer. Some events can afford to pay their speakers more, and some cannot, so you need to adjust accordingly. Rudy Guilani, $270,000: While millions of New Yorkers got to hear Guiliani speak for free during his time as mayor, his speaking fees aren’t cheap now that he’s retired. If not, I can get similar content with perhaps a slightly lesser known name for nothing, sometimes not even travel expenses. Time and time again in my webinars and mastermind groups, a common question arises: “How much should I get paid to speak,” or “How do I know how to set my speaking fees?” Most often, my answer is “it depends.” It depends on the person, the situation, the expertise and the talent of the speaker. The free, easy to use calculator below will give you an expert opinion on speaking fee rates that is custom tailored for you and your next speaking event. I ask that you refrain in using the word “pimping” as if it were a marketing term. Is that wise? An organizer from London Tech Week heard you speak a few months ago and has emailed you to find out if you might be available for their upcoming conference. Aren’t we all at some point, ‘hawking product’ as you say? Retainer fees can be wonderful for your consulting business as it’s income that you can rely on and … I’m also enjoying the comments as I think others will be able to offer additional insights into alternative methods. All speakers are not created equal, too; some speakers command a higher fee because they bring in more attendees than others. Don’t get me wrong — I *WANT* to pay all my speakers. Turn data collection into an experience with Typeform. Don’t expect vast riches. For example, Well Said Dave of Flemington, New Jersey, charges different fees for four different types of work: speaking, training, coaching and webinars. For example, suppose we’re speaking to a crowd that’s valuable to us. Obviously, when it comes to stuff like marketing your book, you have the raw profit for book sales (and making your publisher, should you have one, very happy), but if you’re not hawking product, what’s the math on audience value?

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