Jaimie: Welcome to another episode of Pitch Perfect.
Before I start, I wanted to let you know that I am running my famous free three-day challenge called Speak and Earn. It's coming up on June 3rd, June 4th, and June 5th at 9:30 in the morning, Australian Eastern Standard Time (Sydney time) in 2024. If you're listening to this years later, you've missed it. But it's coming up in a couple of weeks if you're listening to this podcast fresh off the press, just dropped right now.
So, if you want to sign up, go to jamieabbott.com.au/speakandearn to learn how to come up with your speaker toolkit, including developing your bio and one-sheet. I’m even going to give you a template. You will also learn how to pitch yourself as a professional speaker. On the last day, Day 3, which will be June 5th, we’ll actually show you how to find highly paid speaking gigs.
In today's episode, we're diving into a really important topic for all us speakers. Whether you are already getting paid to speak or you're wanting to, it's hard to ask for more money when you're speaking. It's a question that comes up time and time again and is something that many people struggle with. I get asked all the time, how can I ask the client what their budget is, or how can I get more money? So, hopefully, at the end of this episode, my goal is to give you a clear understanding of how to confidently ask for what you're worth and secure those higher fees.
Let’s start by talking about why it's important to ask for more money in the first place. As speakers, we invest a significant amount of time, energy, and resources into preparing and delivering our presentations. This includes researching the topic, crafting our speeches, practising our delivery, and often travelling to different locations. All of this requires a substantial investment on our part, so it's only fair that we are compensated accordingly.
One of the biggest hurdles many speakers face is overcoming the fear of rejection. It's natural to feel apprehensive about asking for more money, especially if you're worried about losing the opportunity altogether. I’ve certainly been in that situation before. However, it’s important to remember that negotiating your fee is a standard part of the business world and something event organisers expect. By approaching the conversation professionally and confidently, you can significantly increase your chances of success.
The first step in asking for more money is to do your homework. Research the market rates for speakers in your niche and get an understanding of what others are charging for similar engagements. This will give you a solid foundation for determining your own fee and provide you with valuable information to use during negotiations. You can gather this information by networking with other speakers, joining professional associations, and using online resources.
Once you have a clear idea of what you should be charging, assess your own value. Reflect on your unique skills, expertise, and experience. What sets you apart from other speakers? What specific value do you bring to the table? By identifying your unique selling points, you can confidently articulate why you're worth the higher fee. This self-assessment will also help you feel more assured when discussing your rates with potential clients.
When it comes to the actual conversation about your fee, timing is key. It’s best to address the topic early in the negotiation process, ideally during the initial discussions. This allows you to set clear expectations from the beginning and avoids misunderstandings later on. Be direct but polite when bringing up the subject. For example, you might say, "I'd like to discuss the details of the engagement, including the fee. Based on my experience and the value I provide, my speaking fee is [insert desired amount]."
Be prepared for potential pushback. Event organisers might try to negotiate a lower fee, especially if they're working with a tight budget. This is where your research and self-assessment come into play. Be ready to explain why your fee is justified and provide examples of the value you bring, such as past successes, testimonials from satisfied clients, and unique insights or perspectives. Remember, you're not just asking for more money; you're demonstrating why you're worth it.
Another effective strategy is to offer tiered pricing options. This gives event organisers some flexibility while ensuring you're compensated fairly. For example, you could have a standard fee for a keynote speech, a higher fee for additional workshops or breakout sessions, and a premium fee for customised content or extended engagements. By offering different packages, you can cater to various budgets while maximising your earnings.
Consider adding extra value to your offerings. This could include providing resources such as handouts, workbooks, or follow-up materials. In my business, I even offer a self-study online course that people in the audience can access. You might also promote the event on your social media channels or write a blog post about your experience. These added perks can justify a higher fee and make your proposal more attractive to event organisers.
Asking for more money requires a shift in how you perceive your worth. Many speakers, especially those just starting out, struggle with impostor syndrome or feel guilty about charging higher fees. It’s crucial to recognise that your time, expertise, and insights are valuable assets. By asking for more money, you're not being greedy; you're ensuring that you're fairly compensated for the value you provide. Embrace a mindset of abundance and believe in your worth.
Practice your pitch. Rehearse how you'll present your fee and handle potential objections. Role-playing with a friend or mentor can be incredibly beneficial. They can provide feedback on your delivery and help you refine your approach. The more you practise, the more confident you'll become, and this confidence will be evident when you're negotiating with clients.
Stay firm but be flexible. While you need to stand by your worth, there may be times when you need to be flexible to secure an opportunity. If an event organiser genuinely cannot meet your fee, consider negotiating other aspects of the engagement. For example, you could ask for travel expenses to be covered, additional promotional opportunities, or a commitment to book you for future events at your desired rate. Flexibility can help you find a win-win solution without undervaluing yourself.
Always follow up in writing. Once you've agreed on a fee and the terms of engagement, make sure everything is documented in a contract or written agreement. This protects both you and the event organiser and ensures there are no misunderstandings. In my Pay to Speak course, I provide templates for agreements with event organisers for both in-person and online events. These templates include details such as the fee, payment schedule, cancellation policy, and any additional services or deliverables. Having everything in writing provides clarity and peace of mind for both parties.
In conclusion, asking for more money when you're speaking is a skill that can be developed with practice and preparation. By doing your research, assessing your value, and approaching conversations with confidence, you can successfully negotiate higher fees and ensure you're fairly compensated for the value you provide. Remember, you deserve to be paid what you're worth, and with the right strategies, you can achieve just that.
Thank you so much for joining me on this episode. If you found the information helpful, please share this episode with your fellow speakers and give me a five-star review. I would love that. I never ask for that enough, as you'll see I don't have many reviews because I keep forgetting to ask. If you got some value out of this episode, I would really appreciate you giving me a five-star review. As always, if you have any questions or topics you'd like me to cover in future episodes, feel free to reach out. Until next time, keep speaking your truth and asking for what you're worth.
