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From book to big-fee
speaking
Experts have jumped on the book bandwagon --
110,000 titles out every year. But few books leverage
into those $10,000 and up speaking fees. Below are two
reasons why and what to do about it.
Right vehicle, wrong
strategy
Many experts put too much pressure
on a book. Their business is sputtering along, so they
assume that if they just had a book, business will flood
in. The reality: a book is simply a conduit -- it gets
your ideas out into the marketplace and into the media.
It adds momentum to what you already have going, not
create momentum where none exists. If your expertise
or idea is attractive to the low-fee markets, a book
will give you more of the same. It is fuel, not the
spark plug.
The key: do your homework. Make sure you have a profitable
body of work that a book can take to new heights. Put
off writing the book if you're not ready to compete
in the high-fee markets.
Great
media, no sales
Many authors use books for credibility. So they hire
a publicist, and launch a massive media campaign. Good
news: it worked, they got great media interviews. Bad
news: the spotlight isn't translating in sales. The
problem is the assumption that media drives speaking
inquiries. It doesn't. Media does two thing -- it gets
you through the first round of consideration (buyers
will check out your website), and it justifies bigger
speaking fees. Any publicist worth their salt will tell
you that media opens the door; leverage does the deals.
The key: leverage is just as important as
your book publicity. Have your systems in place first,
and then unleash the publicity machine. Don't depend
on any book publicists to leverage for you.
Books can ge a great tool. They generate
attention, media, and glory. It is the other stuff,
done before you every write a word, that generates the
business.
How to make no-fee speaking
work
Experts get these invitations all the time. It goes
something like, "Here's our audience. Our event
is good exposure for you, but we have no budget for
speakers. So we want to invite you to present and in
exchange for your fee..." These opportunities can
be lucrative. I know many experts who make seven figures
speaking for free. But the onus is on the expert to
make it happen.
Why many
speeches don't get results
Many experts believe that giving a good speech is enough.
Have great insights, be entertaining, and folks will
flock to you afterwards. The reality: there are hundreds
of thousands of meetings every year, many of them with
more than one speaker. Attendees are off to the next
thing, the next session, off to lunch. Even if they
are interested in working with you, many prospects don't
have time to act right then. And they definitely don't
have time after returning to the barrage of emails,
phone messages, and to-do's waiting at the office.
Bottom line: regardless of how great your speech is,
you can't depend on the audience to take action after
the speech.
The sweet spot for generating revenue
So if after the speech is too late, when do you leverage?
Before the speech. And not an hour before, but when
you are meeting and greeting the attendees. Seven-figure
speaking starts when the deal is in negotiations. You
have the power to say no, so the program folks are more
amenable to any special requests..
The approach: "brainstorm" with the buyers
and get their ideas on how this speech can be mutually
beneficial. Start the conversation with "I'm happy
to explore the possibility of this being a showcase
for my work. I get a lot of these requests, so I need
a specific plan in place that gets results. Let's brainstorm
on how that would work." Have a list of "goodies"
to ask for. And make it clear that you're taking their
commitments to help you seriously, as an exchange for
your fee. Draft a letter or email that spells out these
activities, citing that "in exchange for waiving
the speaking fee, you agree to ...".
You have a very narrow window of opportunity, which
is almost closed by the end of your speech. When you
have a system for leverage before and during the event,
getting revenue becomes a foregone conclusion.
Vickie's note: Want to see the game plan that helps
me and my clients generate big bucks in ancillary revenue?
You can get your copy of my list of to-do's before,
during, and every every speech in my Speak
to Sell program. Learn how to maximize your leverage
to get the greatest returns on your speech. Read more
about it and how to get both the cassette version and
download version at over 50% off at http://www.speaktosell.com
Another antidote
to competition
Blue Ocean Strategy is the hot business book right now.
I can understand the attraction, as I've been finding
the "blue oceans" for clients since 1987.
Unfortunately, many experts will use this idea as an
excuse to throw the baby out with the seawater. There
are still many opportunities in our own harbor, where
our credibility is the highest. Leverage is king here,
so make sure you've picked your current spot clean before
heading off to another fishing hole.
Immediate gratification
rocks!
When I want something, I want it RIGHT NOW! (Examples
of this are part of the Sullivan family lore.) Appears
that I am not alone. Folks from Australia to the U.K.
have taken advantage of the download versions of all
learning systems. Yep, Your
Position of Power, Become
Sponsor Savvy, Springboard
Marketing, and the Speaker
Success Kit are available as downloadable MP3 files.
So if you want solutions immediately (and save on those
high overnight charges), just go to the online
store and choose the download version. These systems
are field-tested and ready to rock your world...
Cleaning out my closet
What to do when it is over 100 degrees outside? Stay
indoors! And it's making me nuts. So, I'm "leveraging"
this opportunity by getting rid of that box of Speak
to Sell cassettes. You can get my best-selling Speak
to Sell audio tapes AND the download version for only
$24.95. That's over 50% off the regular price of $52.45.
And I only have 45 in stock, so hurry. These will be
gone quick. Just go to SpeakToSell.com
and click the "I want it" button. Sorry, the
CD version isn't included -- we don't have too many
of those.
A long-time client wants
to sponsor my speeches to their target market. Because
they knew me "back when", they expect to pay
me a rate I haven't charged in years. How do I get my
current rates in this new deal?
A: By giving them options
to leverage their investment. Offer them a bare-bones
program at the price they expect, but motivate them
with lots of extras such as media support to the higher
priced options. Your argument: "If you're going
to invest in the tour anyway, let's promote it to the
hilt." If they play the "relationship"
card, explain that you're giving them an obsolete price
for current value, which no new client is getting. And
be prepared to walk away if necessary.
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" I was recently approached by a potential sponsor who heard me speak
...they were in a position to offer me quite a bit of money but the two of us could not hammer out a plan that would make sense. So I talked with Vickie afterwards and BOOM! She had the plan just like that! She knew exactly what to do...I'm meeting with the CEO to get that plan launched for next year."
Seth Kahan
Author, Building Beehives: A Handbook for Creating Communities that Generate Return |
