Fees and Expenses
Basic Fees.
Fees vary widely, ranging from$1,000 to $50,000 or more. Luminaries such asmanagement guru Michael Porter, billionaireentrepreneur Richard Branson and formerpresident Bill Clinton are on the high end.Speakers are paid in a variety of ways butgenerally require a deposit – 50 percent istypical – at the time of booking, with the balancedue shortly before the engagement or on site.
Variations in the basic fee
.Keep in mind thatprofessional speakers – those who do this for aliving – are likely to set their fees according tohow long they’ll be at your event. For instance,the speaker might have a keynote fee thatcovers a single keynote address of up to 90minutes. If the speaker plans to do the keynoteaddress, speak at a break-out session, andperhaps stay for the luncheon, he might chargea higher fee. Many professional speakers havehalf-day and full-day rates in addition to keynotefees.
Travel and other costs
. For the privilege ofhaving the speaker address your group, you paythe speaker’s fee plus travel andaccommodation costs (hotel and meals). Aspeaker’s expenses typically start at $1,000 – ormore if he or she is flying first-class.
Negotiating fees.
Are speakers fees carved instone? No, fees are often negotiable, even thoseof some of the top tier speakers. In fact, youshouldn’t be too quick to accept the first priceyou’re quoted. Don't be shy about negotiating.
Keeping Costs Down
Here are some ways to keep a lid on the cost ofhiring speakers:
Who’s local?
Look for speakers who are basedin the city where you’ll be holding your event.Some speakers spend their entire lives on theroad, and may welcome a gig close to home. ABoston-based speaker may be amenable tooffering a deal on his rate in order to addressyour meeting in Boston. And, of course, you’llavoid travel and accommodation expenses.
Does he have something to sell?
A speakerwith a book or a video to sell may be willing toaccept a lower fee if allowed to peddle theirwares at your event.
Can you share costs with another group?
Check with the hotel or local convention andvisitors bureau about other events scheduled thesame day. You could “share” the services of thespeaker – and thus share the cost.
What else can a speaker do?
Try to get morebang for your buck by having the speaker agree,let’s say, to attend a break-out session inaddition to giving a major talk. The speakercould be willing to do the break-out at little toknow additional cost.
Offer video.
If you plan to record the speaker’spresentation, offer to produce extra copies of thevideo for the speaker’s use. The speaker maybe willing to cut you a deal on the fee.
Call your Congressman
. Approach speakerswho do not accept fees – current officeholders,for instance. If you’ll be meeting, say, in andaround Washington, D.C., a member ofcongress could speak on a legislative topic ofinterest to your group.
The Speaker’s Contract
Primarily, the contract should clearly lay out yourexpectations and the speaker’s. It should coverthe following:
Travel and local transportationarrangements.
Accommodations and meals.
Fees and payment terms.
Customization of remarks.
Additional duties expected of thespeaker, such as mingling withattendees or signing autographs.
Whether and how the speaker will sellproducts such and books and DVDs.
Agreements to record the speaker’spresentation (in most cases, you’ll needpermission to record).
Audiovisual and technical requirements
Cancellation policies.
Prepping Your Speaker
You should thoroughly brief the speaker aboutyour organization (i.e. goals, accomplishments,challenges), your organization’s industry, andthe size and demographics of the audience.This is particularly important if you are expectingthe speaker to customize the presentation.Many celebrity speakers are not amenable tocustomizing their remarks, but it is almost a
Add a Comment