How Much Should You Charge for a Speech?
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Great speakers can command a much higher fee than mediocre ones. But how do you know if your speaking skills are worth the price? There's no easy answer, but here are 3 factors that will help you determine what to charge.
Authority + Influence
Are You viewed as a celebrity? Are You someone that people want to learn from? Do People see Your expertise as invaluable?
There is a lot of value in being seen, thought and respected as an expert. It gives you the opportunity to create relationships with potential clients or customers while positioning Yourself as their trusted consultant. Companies will pay for this kind of consulting when they need help with an immediate problem or need to implement a large change that requires buy-in from employees.
Subject Matter Expertise
You may also be asked to speak at conferences and events as part of Your overall consulting work where You can charge more for your expertise and time through speaking engagements, keynote speeches or workshops.
Here are 3 possible pricing examples:
A $500 - $1,000 Speaker Fee
This is a popular fee for speakers at local events and large conferences. Many of these organizations are looking to book people that have name recognition or who will be providing valuable information from their expertise in the field.
A $2,500 - $5,000 Speaker Fee (Paid by Conference) + Expenses Paid*
This is a popular fee for speakers at conferences where they will receive an honorarium to speak and be provided with travel costs, lodging, meal expenses etc. This type of speaker session will require You as the Speaker to attend smaller events in Your local area that are not paid speaking engagements.
A $5,000 - $20,000 Speaker Fee (Paid by Conference) + Expenses Paid*
This is the most popular fee for speakers at conferences and can range anywhere from $5,000 to upwards of $20,000. These types of speaker sessions are typically filled with keynote speeches or workshops that require a lot more preparation time on behalf of You as the Speaker. Your travel, lodging and meal expenses will be paid for by the conference as well.
*Expenses are not always covered!
Ask specifically about the following before accepting a speaker session:
The Length of Presentation: As a general rule, shorter presentations cost less than longer ones. If you have been asked to speak for 30 minutes or less, then the fee might be lower than if someone wants you for an hour-long talk on the same topic.
Type of Event: Speaking engagements vary in style and content depending on where they take place; some may be more expensive than others because they are held at a high-profile event. For example, you may be asked to speak for free during an industry conference if it is your first time there and the event planners hope that you will come back again in the future as more established speaker (and charge them money next time).
Attendee Admission Fee: Even if you’re not charging a speaker fee, many conferences require attendees to pay an admission fee. Taking advantage of this opportunity can be smart from a business perspective too: simply put, more people in the room means more potential clients.
Speaker Fee/Honorarium: In some cases, event planners will pay speakers an honorarium for their work (i.e., a flat fee for their time) and in other cases, they’ll cover expenses but not give out extra compensation. If you have the opportunity to earn an income from your speech without taking too much of your valuable time, this can be worth considering .
Speaker/Session Expenses: Even in the case of smaller events or meetups (where a speaker fee might not even be offered), there may still be opportunities for you to make an income by charging for consulting services.
Speaker/Session Food: Sessions that are scheduled at noon or dinnertime often provide meals as part of their speaker compensation. This may help offset the cost of your own meal, but don’t forget that you can always ask for food if it isn’t provided .
Speaker/Session Accommodations: If you need to stay overnight before or after a speech (or both), many conference planners will cover room and board costs while speakers are onsite. This is especially common if speakers are coming from a large distance away, so don’t be afraid to ask!
Speaker Transportation + Travel Expenses: If your speech is far away from where attendees live or work, you may be able to ask the event planners to reimburse actual travel expenses (i.e., airfare, ground transportation). This is a great way to offset the cost of attending an event if you’re not charging for your time or receiving some sort of honorarium.
Speaker Value Proposition
What value are you adding to the conference – what are you offering that no one else can offer?
You want to be able to discern the cost of your services. Some speakers charge a couple thousand dollars, while others may charge as much at $100,000 per speaking engagement. There can only be one keynote speaker for any given conference or event, so you definitely don't want to undersell yourself when it comes to being an expert in your field.
It is important to keep in mind that you will be adding value to the conference, and if your compensation doesn't reflect this then it may not make sense for either of you. You want them (the organization) to get their money's worth, as well as enjoy having you there as a speaker.
Your fees should be based on a variety of criteria, including:
The conference or event itself. Is it new and just getting started? Or is it one that has been established for years and attended by hundreds every year?
Your experience as an expert in your field, with extensive knowledge to share about the topic you are speaking on. Others may be able to speak about it, but you are the expert.
Your experience as a speaker at previous conferences or events. If you have spoken several times and received great feedback from past attendees, this will definitely warrant higher fees than someone who has never done so before.
The scope of your session – how long is it? You should be able to provide a price range based on the length, and then they can determine if that fits well with their conference schedule.
The location of your session – is it local or international? Some speakers charge higher fees for travel expenses since this may include additional costs such as airfare.
What other related services are you providing? Are you planning to offer consulting or coaching sessions after your main session is complete, for a fee? These can be additional sources of revenue that can help justify higher speaker fees.
