Breaking into High Fee Markets
As free experts take over the lower fee markets, it’s time to find higher ground. Breaking into high fee markets (over $6500 per engagement) can be done but is not for the faint of heart. It requires major changes in all aspects, from topic development to market approach and positioning.
Who’s there now
Two kinds of speakers generate the higher fees. One is the high-end talent, who stands out from their peers. They are attractive usually because of their track record or message. They have differentiated themselves in a broad way but not necessarily "niched" in specific markets. Examples: Alan Weiss, or humorist George Campbell (aka Joe Malarkey).
The second is what I call the "anti-speaker" – those who are already recognizable and use speaking as a sideline. Their appeal is very broad and draws large crowds. Examples: basketball coach Pat Riley or NBC correspondent Andrea Mitchell.
The biggest mistake
Often, the biggest mistake speakers make is that they don’t position themselves for the most profitable markets. Speakers will focus on less important factors that are a given in these markets rather than standing out in a way that is important to the high fee markets. They will give in to gimmicks rather than create substance. Cute doesn’t work, even for humorists. The high-end marketplace has different criteria for speaker selection than the lower fee markets.
What really counts
Three things capture the attention of the high fee markets: credentials, message and visibility.
Notice that presentation skills aren’t included. Why? Because this marketplace assumes that speakers with high fees are "good." What gets you in the door is adapting your marketing to fit the above three areas. Great speaking skills allow you to stay in the market and get repeat business.
Key strategies
What can you do to break into this marketplace? Try:Repositioning your credentials: Do you have a track record? Many of us do but don’t know what it is because we haven’t compiled results. Make this quantitative and specific.Differentiating your message. Speakers like Tom Peters get the high fees because no one knows what he’ll say next. This is also true for humorists: George Campbell is a great example. Make sure the message demonstrates your background and results.Creating national visibility: A book is a great vehicle for visibility but it’s not the only way to become known. Another idea: do something bigger than yourself. International Coach Federation president Marcia Reynolds gets far more visibility leading a booming industry than she could being an author.(Editors’ note: high fee markets will be the focus of the 6/29 teleclass. See flyer for details.
Creating Best Sellers
For high fee markets, writing books isn’t enough. Credibility now rests with nationally-known, recognizable titles. Mary Westheimer, CEO of BookZone Inc., shares her inside secrets on hitting big time markets:
What gets Attention
Q: So many books, so little attention….what kind of books get the most attention in national media markets?
Nonfiction. Yes, fiction gets attention, but primarily those novels written by well-known writers. That distorts our view of what gets ink.
Controversial topics, information about current events, subjects "pegged" to dates (for instance, a book about Pearl Harbor survivors on the anniversary of the bombing), and, of course, the celebrity tell-alls.
Common Mistakes
Q: What are the most common mistakes authors make in vying for national publicity?
Have you ever met an author who didn’t want to be on Oprah? Not only is it difficult to do, it also is not the sales slam-dunk that we’ve been led to believe.Another common misconception is that people care that your new book is now available. Alas, no one (but you and your mother) cares about your book. The release of a book is not news; the information it conveys is the news. Who will want that information?
Once you grasp that, you or your publicist can approach the editors who cover the specific subject matter, be it the family, business, sports or local section. The author is an expert on the subject, and the book is referred to as proof of that expertise.
Hot Strategy
Q: Do business magazines still use book excerpts? How do magazines decide which book to excerpt?
Much like public relations, which some people feel is ten times as valuable as advertising, excerpts offer more credibility.
Lots of magazines use excerpts and they usually find out about them because a smart publicist has submitted it to them. The more you can help them by picking the proper material for an excerpt, providing the brief author biography, etc., the easier you are making it for editors to say, "Yes, we’d like to run that."
By the way, newspapers run excerpts, too, sometimes serializing them over a series of days or Sundays.
(Editor’s note: BookZone is the net’s largest publishing community. Check out www.BookZone.com for a wealth of info and resources. )
A former associate helped me email a newsletter to those who requested it at speaking engagements and through my website. My privacy policy states that the names wouldn't be sold or given away. That associate has taken the list and spammed ads for other speakers. What should I do?
Take a deep breath and remember that you are not a violent person. Then, notify your list about what happened and what you have done to prevent a repeat occurrence. Explain that this spam was sent without your prior knowledge and consent. Most of us dislike spam enough to boycott anyone using it.
Hiring an attorney to go after this person can get expensive. Another option is to turn this issue over to an ethics committee. Associations such as the National Speakers Association and the International Coach Federation have a code of ethics as well as ethics committees to enforce the code. If your "friend" is a member of an association call the headquarters and ask for the process of filing a complaint.
|
