How do you set your fees as a speaker? This is a common question that many aspiring and experienced speakers face. Whether you are speaking for free, for a fixed rate, or for a percentage of the revenue, you need to know how to value your time, expertise, and impact. In this article, you will learn some tips and strategies to help you determine your fees as a speaker.
The first step to setting your fees as a speaker is to research your market. What are the typical rates and ranges for speakers in your niche, industry, and level of experience? How much demand and competition is there for your topic and audience? What are the expectations and budgets of the organizers and sponsors? You can find this information by browsing online directories, platforms, and databases of speakers, as well as by networking with other speakers and event planners.
The second step to setting your fees as a speaker is to assess your value. What are the benefits and outcomes that you deliver to your clients and audiences? How do you differentiate yourself from other speakers in your field? What are your credentials, testimonials, and achievements? How do you showcase your expertise and authority in your marketing materials and online presence? You can use these factors to justify and communicate your fees as a speaker.
Identify your market and what sets you apart within it. As a pipefitter my main difference from my field is my experience with social media and the ability to hit a younger generation when speaking about the trades. I leverage this as a key identifier and use that to set a higher value within a group that needs that connection to the next generation. By offering a link to a hard to tap audience I’m able to drive up my value.
The third step to setting your fees as a speaker is to calculate your expenses. What are the costs and overheads that you incur as a speaker? These may include travel, accommodation, equipment, materials, taxes, insurance, and marketing. How much do you need to cover these expenses and make a profit? How do you account for contingencies and emergencies? You can use these numbers to set a minimum and a maximum fee for your speaking engagements.
The fourth step to setting your fees as a speaker is to explore your options. How flexible and negotiable are you with your fees? What are the trade-offs and alternatives that you can offer or accept? For example, you can charge more or less depending on the length, format, and location of your presentation. You can also consider non-monetary compensation, such as exposure, referrals, products, or services. You can use these options to create different packages and proposals for your clients.
It is important to be who you are and let that shine through. Sometimes a free event is important - it gets you out there, just balance the free with the paid because it sets the standard for how worthy you feel. If you feel like the cheap alternative... you will come across that way.
The fifth step to setting your fees as a speaker is to establish your boundaries. How confident and comfortable are you with your fees? How do you handle objections, questions, and requests from your clients? How do you communicate and enforce your terms and conditions? How do you deal with late payments, cancellations, and disputes? You can use these boundaries to protect your reputation, integrity, and income as a speaker.
These boundaries should be proportionate to your reputation, the importance of the event, the contents of said event, and it’s potential impact. I’d definitely try to research on similar events in the past that is akin to my situation and go from there. If the money is being fundraised, that must be made clear from the jump. Having fees that are disproportionate to the event will inevitably inquire questions and potential conflict from buyers, to which you must be able to explain. So the best advice is to look at past events that are similar in nature and go from there because you never really know what’s inbounds for a fee until you’ve been around.
The sixth and final step to setting your fees as a speaker is to align your fees with your goals. What are your short-term and long-term objectives as a speaker? How do you measure and evaluate your success and progress? How do you adjust and improve your fees over time? How do you balance your passion and purpose with your income and lifestyle? You can use these goals to guide and motivate your fee-setting process as a speaker.
Whenever I took a public speaking gig, I had to feel that I was adding value to the organisation, and that the audience would take some real life examples away to use themselves. So for me the fee was dependent on the organisation and their wants/ needs rather than mine. In adopting this process, my speaking opportunities came more from word of mouth than by me seeking them out.
For those of us who represent local government there is no fee as we serve the public. However, for those who do paid or sponsored engagements,it is important to take into consideration the amount of time one put into the presentation, approximate number of attendees, complexity of topic and cost of materials used for example brochures, hand outs, grab bags gift bags if applicable and size of venue. Know your worth as well and if you have a team theirs as well. Also if one is specialized in a field that also should play a big part in ones fees. Education, experience, ones title as well.