Six Tips for Negotiating Your Fee When Arranging a Speaking Gig

You want to be a good speaker, but it goes without saying that you also want to be a paid one. Still, negotiating your fee can often be difficult, particularly if you’re new to this work. However, you can make this process easier by following these tips.

As a speaker, nothing will give you more joy than realizing you’ve managed to completely captivate an audience. The applause and nods of approval can be intoxicating. But while this sensation may be the biggest perk of speaking, getting honest pay for your efforts comes in at a close second. Unfortunately, this is where a lot of speakers struggle.

This is nothing unusual. Every new speaker faces this issue, and even their more seasoned colleagues aren’t completely immune to it. Simply put, it’s not easy to decide how much to charge for your services. This is because you have two opposing forces to deal with.

The Dilemma

On the one hand, you want fair compensation for your work. Giving a good speech requires time, preparation, and a lot of effort. These are all things which shouldn’t come free.

But on the other, you don’t want to be unrealistic and price yourself out of all gigs. After all, everyone has to start somewhere so you may think it’s appropriate to even speak for free.

However, this is where you have to consider everything you bring to the table as an influencer. A good speech will motivate the audience and stimulate them to make positive changes. It will also educate and show them the ways to go through with those changes.

This is what you do as a storyshower – you connect with people and enrich their lives. By the end of your speech, you will have helped the audience. Consequently, the event organiser will benefit from you as well. This is why proper compensation is in order – you simply can’t do all of this without getting paid fairly.

This isn’t to say you should never speak for free. When you’re just starting out, you will need to do this. That’s how you gain experience and exposure. But the goal should always be to become a paid speaker sooner rather than later. You can still give the occasional free speech, but that should be the exception, not the rule.

And, there is money here. The stars of the speaking circuit make a lot, and even less famous speakers can earn a tidy sum. The trick is knowing how to negotiate the right fee, and these tips will help you do that.

The Tips

Negotiating is often a tough process, but it helps to have a system in place. By following these six tips, you’ll create a general strategy to follow. Of course, each negotiation is different, but this will point you in the right direction.

Show Your Skills

The first step in getting paid for your speaking begins well before you actually get to the negotiations. Before they’ll even discuss your fee, event planners will want to see you in action. It is up to you to make sure such material is easily available.

We mentioned you’ll need to give some free speeches at the start of your career, and this is one of the biggest reasons why. Those engagements won’t get you a fee, but they will give you footage. You can ask the organisers to provide it to you, or you can capture it yourself. Simply set up a camera or ask someone in attendance to record you.

In addition, you should also create a “sizzle reel”. This is a relatively brief video containing your best moments. Go through any footage you have and collect the highlights. Then, edit them together in a way that paints you in the best way possible.

Ideally, you will host all this footage on your website. That’s where you can also put any other relevant information. Also, make sure to leverage the power of social media. Have an active online presence, and use those posts to direct traffic your way. If you don’t have a website yet, you can create a YouTube channel and leave links to it instead.

All in all, this will help you leave an impression on the organiser before you even speak to them. Furthermore, make sure to regularly update this material. There’s no need to provide examples of this as every notable speaker does it.

Don’t Open with the Fee

The material from the previous tip should hopefully get some event organisers to take note. But when they get in touch and you start talking, don’t open with your fee. Instead, you want to get them interested first. Because once you’ve convinced them you’re the right fit, it’ll be much easier for them to accept your price. This is one of the basic principles of selling.

To do this, explain how you can bring value to them directly. The organiser has probably seen some of your general footage, meaning you now need to focus on them specifically. Start by asking a lot of questions about their organization, the event, and the audience. Find out what they’re looking for and show how your expertise can match up to it.

If you can, buy yourself some time to do this research. For instance, you can set up a more comprehensive meeting after the initial contact. Use that time to figure out what the organisers are trying to achieve and create a narrative showing how you can contribute to it.

Make a Decision to Ask for a Fee

This may seem obvious, but it isn’t always. For new speakers, it can be tough to make that choice and ask for money. That’s because you’ll always hear that voice telling you to maybe accept a few more free gigs to get your name out there.

However, once you’ve collected enough footage from your free speeches, it’s time to start earning from them.

Poornima Vijayashanker is an entrepreneur, engineer and well-regarded speaker. She recalls that her first paid speaking gig earned her US$75. This came after speaking at numerous events without compensation. Then, she made a promise to herself that she’d charge the next person to contact her.

Making this choice was a pivotal moment in her career. That’s when her mindset changed. After that, she would continue to ask for fees, which would only get bigger. The biggest one was $25,000. Still, it started with making that decision, and that’s what you need to do as well.

Scale Your Price with the Event

When you’re the star of the show, you get to dictate the terms. But until you get to that point, your fee should be in line with the event’s speaking budget.

Vijayashanker does this by considering the number of attendees and the admission fee. She multiplies these figures and then asks for 1 to 10%. If the event has big sponsors, she’ll ask for more. The same applies in the opposite direction.

This is one formula you can use, but there’s another you could try. Again, start by multiplying the number of attendees with what each of them will be paying to be there. Then, assume half of that will go to cover the venue. Take what’s left and divide it by two once more – that’s for other expenses.

The figure you get then can be a rough estimate of the event’s total speaking budget. Divide it by the number of speakers and you’ll end up with how much each speaker can expect to get. You now have a number to negotiate around.

Integrity

Once you’ve decided on the fee you’ll ask for, don’t lower it without getting something in return. If you’re willing to cut 50% at the drop of a hat, it’ll paint the initial price as overinflated. This leaves a bad impression and weakens your negotiating position.

Instead, make sure you get something in return for lowering the price. Hugh Culver, who’s given more than 1000 speeches to date, often offers a discount for multiple bookings. You can also ask the organizers to cover your trip and lodging. If the event is at a nice hotel or resort, you can ask for a couple of extra days there.

Alternative Sources of Income

Just because the organiser won’t be giving you a large fee doesn’t have to mean the event won’t be worth your while. Catherine Morgan is an expert in career transition and has given plenty of speeches on the topic. She routinely gets new clients after her talks because the attendees fill out a form and get to see her offer. Or, you can also sell your book(s) at the event.

And even if you don’t have a specific product or service to sell, you can agree with the organisers to have a meal with their biggest sponsors. You can also ask to have your brand featured prominently on any promotional material. These are both ways to get new speaking gigs down the line.

The Final Word

It’s perfectly understandable if you’re struggling to put a price on your speaking. Hopefully, these tips can help with that.

Make sure you have the material that shows you in a good light and research the event in question. Don’t lower your price without a reason and also look for other benefits.

These tips can help you set a fair price for your work – stellar speeches shouldn’t be free. But, there is also a lot more that Speakers Institute can teach you about building a successful career as an influencer. To begin, this is what we recommend:

• Head to GREENROOM. The #1 Online Hub connecting you to the world’s leading Influencers, Training and Curriculum.
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