So, you’ve become an expert in your field. You have an angle you want to share with the world- and people want to hear it! You’ve spent some time getting speaking experience and feel ready to start marketing yourself as a paid speaker…. But how do you decide how much to charge?
In today’s post, I’m going to explain exactly how to price public speaking.
There are so many factors that go into pricing public speaking, but for the most part they can be separated into two columns:
- What the speaking engagement is going to cost or take away from you, and;
- What the speaking engagement is going to do for you.
Let’s start with number one: What the speaking gig is going to cost you. There are several things to consider here, including but not limited to:
- The location of the speaking gig
- The length of the gig
- The prep time you need to put into the gig
We can break this down even further.
When it comes to the location of the speaking gig, you’ll want to consider:
- The actual dollar cost of travelling to the event
- The travel time- can you work while travelling? How much money could you have made during this time?
When you consider the length of the gig, you’re looking at:
- How much accomodation you need and its cost
- Whether you need a rental car when you get there or other transportation
- How many business days the gig takes away from your regular work
- How much work you’ll be able to get done while away
- The costs of food and drink while away
- Whether it’s a one day event or a multi-day conference
Preparation for the event includes things like:
- Communication with the organizers
- Preparing speaking material
- Practicing your material
You need to attach a dollar value to one hour of your time, then figure out how many hours all of the above will take and add it to the actual out of pocket expenses.
The number you come out with is probably pretty high, right?
You might be feeling like no one would or could pay that to hear you speak.
The good news is, they probably don’t have to. There are many benefits to public speaking that are not direct compensation- and they are equally as important to consider when pricing your public speaking.
Which brings us to column number two:
What the speaking gig is going to do for you.
There are many reasons to explore public speaking outside of the cash revenue. For example, public speaking engagements give you the opportunity to:
- Make connections
- Secure new clients
- Become more well-known
- Sell your products
- Position yourself as an expert
Some of these will result in direct pay for you, some of them are long-term benefits to your career and ultimately your bank account.
Depending on the stage you are at in your speaking career, you may value each of these benefits differently. It is up to you to decide what each opportunity is worth to you, and apply that value to the price you set for your public speaking.
For example, you could be asked to speak at an event with 200 attendees in your ideal niche. The event organizers could offer you a booth to sell your products and services from, and time after your speech to promote yourself directly to the attendees. In this case, it may be worth attending for a nominal fee, or even for free- as long as your travel and accommodation is covered!
On the other hand, you could be asked to speak at an event with a variety of attendees that don’t really fit your ideal client. You might be able to sell some coaching sessions, or some books, or secure some clients- but it’s a maybe. In this case, it would be appropriate for you to charge more for your services, because you are less likely to see a return on your investment of time.
In summary, here are the big questions you need to ask event organizers in order to price public speaking:
- Where is the conference or event located?
- How long is the conference?
- How large is the audience?
- What is the cost of the conference to attendees?
- How many speakers are there?
- How long are the sessions?
- Are talks recorded?
- Do they want a topic you have previously covered, or new material?
- Are there events before or after the conference you are required to attend?
Once you have this information, you can make an informed decision about your price point based on everything we’ve talked about above. Always remember to understand your own value and avoid selling yourself short! It’s your time to usher in abundance and share your sphere of genius with the world.
Want more straight-up advice to help you become a Money Rockstar? Check out my author page and don’t forget to subscribe to this blog to get awesome tips and teachings straight to your inbox!