Congrats on stepping up your game and entering the arena of paid speaking engagements! It’s a pretty cool place to be. But how do you know whether you’re charging the right amount for each booking?!?!
In the True Speaking Success System, we cover speaker fees in depth. The following snippet of information from the TSS System can help you get started.
One of our keys is the idea that no single niche has the same budget as any other. For example, in certain college settings, a $7,500 hour-long keynote may be outlandishly expensive. But in a major corporate setting, that same $7,500 would be looked at as a joke—because it’s far too cheap!
And at one school, $10,000 could be more than the entire annual budget for speakers. At another, $10,000 is what it expects to spend for one speaker.
The solution is to learn what’s common in your specific market. Think of it like buying a car. What would you expect to pay for a brand new Toyota Camry? Maybe in the ball park of $20K, right? So if someone listed a brand new Camry for $80K, you’d think he was crazy. And if he claimed to be selling a brand new Camry for $8K, you’d immediately think that there was something wrong with the car.
Fees also depend on the size of the problem you’re solving. The same organization that may only have a $2K budget for a generic speaker might gladly pay $25K for a speaker who could directly create $100K in new business.
There are two great ways to learn the budget range for your specific speaking niche.
1. Put the ball in their court. All you have to do is say this when you’re offered a job:
“Thanks so much for reaching out to me. Now that I’ve learned what your goals are, I’m really excited by the potential of partnering with you, because I’m 100% confident that we can make the impact you need. I always aim for a win-win scenario, and I like to work within the budget of my clients where I can, especially for a potential client like you, whose vision I believe in. If you wouldn’t mind letting me know, in round numbers, what budget do you have allocated for the speaker at this event?”
This way, the client throws a number at you, and you can decide to say yea or nay (or to negotiate).
2. Search for other speakers in the same niche and find out their prices. You can look on their websites, check a speaker bureau page, or even contact them directly to ask. Figuring out what other speakers charge can give you a general sense of what the market can bear.
What to charge is very subjective. Many other factors enter the equation, such as your credibility, fame, expertise, the hotness of your topic, the results you create, the type of client, and much more. But these are actionable steps you can take right now to move forward. To learn more about how to set speaking fees, join our True Speaking Success System!
Wishing you True Speaking Success!
PS- When you are ready to take your business to the next level and go through our game changing online course, sign up for the True Speaking Success System