As a public speaker, you want to deliver value to your audience and get paid well for your expertise and experience. But how can you increase your speaking fees without compromising your reputation or losing clients? In this article, you will learn some effective ways to boost your income as a speaker, based on your niche, your market, and your skills.
The first step to increasing your speaking fees is to know who your ideal client is and what they are looking for. Your ideal client is someone who has a problem that you can solve, who values your content and style, and who is willing and able to pay you what you deserve. To find your ideal client, you need to do some research and analysis on your target market, your competitors, and your own strengths and weaknesses. You also need to create a clear and compelling value proposition that showcases your unique selling point and the benefits you offer.
Speak a lot! The more talks you do, the more in demand you will be. Economics 101 - supply and demand. As you become more in popular in the speaker circuit you will naturally be able to raise your prices. Make sure to research your competitors to give you a sense of your fair market value.
The second step to increasing your speaking fees is to position yourself as an authority in your niche. This means that you need to demonstrate your credibility, expertise, and experience in your field, and establish yourself as a go-to source of information and inspiration. To position yourself as an authority, you need to create and share valuable content, such as articles, blogs, podcasts, videos, books, or courses, that showcases your knowledge and insights. You also need to build and nurture your network, by connecting with other influencers, media outlets, associations, and organizations, and by getting testimonials, referrals, and reviews from your past and current clients.
Positioning yourself as an authority is two-fold. 1. You must feel confident enough in yourself to believe you’re worth a higher rate. And, 2. The client must feel confident in you as well so that they are willing to pay that rate. It doesn’t matter the increase if no one is paying it. And if your voice is shaky and cracking when you say the new rate, you also won’t get the sale. So how do you gain the confidence of yourself and others? Through data! Data collection is a great way to show that you are effective. It could be as simple as a one question survey. (I wouldn’t do that, but it can be done.) We can’t argue with the data. Be sure to ask the right transformative questions in your survey to get the most valuable results.
The third step to increasing your speaking fees is to negotiate with confidence. This means that you need to know your worth, set your rates, and communicate them effectively to your potential clients. To negotiate with confidence, you need to do some homework and research the market rates for speakers in your niche, level, and location. You also need to consider your expenses, such as travel, accommodation, equipment, and taxes, and factor them into your fees. You also need to prepare and practice your pitch, by highlighting your value proposition, addressing common objections, and offering flexible options.
The fourth step to increasing your speaking fees is to add value and upsell. This means that you need to deliver more than what your client expects, and offer additional services or products that complement your speech. To add value and upsell, you need to understand your client's goals, challenges, and needs, and tailor your speech accordingly. You also need to provide extra resources, such as handouts, slides, worksheets, or checklists, that reinforce your message and help your audience take action. You also need to suggest and propose other ways that you can help your client, such as coaching, consulting, training, or mentoring.
The fifth step to increasing your speaking fees is to leverage your testimonials and referrals. This means that you need to collect and use positive feedback and word-of-mouth recommendations from your satisfied clients and audience members. To leverage your testimonials and referrals, you need to ask for them, by following up with your clients and audience after your speech, and by requesting them to share their opinions, ratings, and reviews on your website, social media, or other platforms. You also need to showcase them, by featuring them on your marketing materials, portfolio, or proposals, and by thanking and acknowledging your supporters.
The sixth and final step to increasing your speaking fees is to invest in your skills and brand. This means that you need to keep learning, improving, and growing as a speaker, and to enhance your visibility, credibility, and reputation in your niche. To invest in your skills and brand, you need to seek feedback, coaching, and mentoring from other experts, peers, or mentors, and to apply their advice and suggestions to your practice and performance. You also need to update and upgrade your website, logo, bio, photos, videos, and other elements that represent you and your work.