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What High-Fee Buyers
Want Now
The #1 question that
crosses my desk: how do I get into the high-fee markets?
Too many experts think it is a question of longevity.
They assume that being in business for so many years
deserves an automatic pay raise. Not anymore. While
high-fee buyers don’t want to be guinea pigs,
they care more about deliverables than tenure. Below
are three things that these jaded buyers look for now:
Do Good
A recent study from Meetings News dropped a bomb on
the keynote speaker market. When asked, “Which
type of keynote speaker is the most desirable to your
meeting groups these days?” 44 percent said someone
famous for overcoming obstacles or achieving great things.
Another 34 percent prefer an expert or researcher in
their industry. On the bottom of the list: industry
execs and politician/author “of good repute.”
What’s really happening here: buyers know the
audience needs motivation but the rah-rah in a vacuum
is getting old. We want more substance in our lives
and want to hear from those who either make a difference
or who can help us make the world a better place.
Heads up: substance is giving style a run for its money.
Put your expertise to work. Go beyond volunteering and
contribute brilliance to a cause. This trend is driving
the two patterns below:
Be Prominent
In the high-fee market, everyone is successful. Track
records are impressive, and the results are real. So
now, buyers raise the bar by asking for more prominence.
Their argument: someone well known is safer to hire
than someone who is good but invisible. If you are well
known, everyone assumes you will cost more. “Hot”
drives fees.
What’s really happening here: the key word from
the above study is famous. Having a book isn’t
enough; it’s got to be a best-selling book. Being
quoted in national media isn’t enough; you’ve
got to be a columnist or contributing editor. These
expectations are polarizing the market. The “have’s”
will have access. The “have not’s”
will never get in.
Heads up: this is how a brand gets monetized. Not through
lead generation but by the fees you can charge. Unless
you are famous for being famous, it’s a pay-to-play
world. Remember this the next time you pay your publicist,
your web designer, or your strategist.
Hit the Target
High-fee buyers are a little spoiled. They have so many
experts offering to speak, to coach or to consult, that
they can pick and choose. No longer do these folks have
to think, “Wow! This is a great idea; wonder what
I can do with it?” They expect you to show them
the connection – before they ask.
What’s really happening here: these buyers are
aware that the lines are blurring. Meetings, mentoring,
and the other expert services on offer are no longer
islands but parts of a larger strategy. The big picture
is driving decisions now. What does not fit gets ignored.
Great ideas have to be applied to a hot-button issue
in order to pass the raised-eyebrow stage.
Heads up: stop obsessing on a clever slogan, pretty
website or any other tool. What you bring to the market
had better be on target. Strategy before tools creates
immediate market acceptance. Tools without strategy
are wasted effort.
Notice a pattern here? All trends point to one thing:
substance that’s recognized. Experts who apply
their brilliance to a bigger cause will get the media,
which will drive the prominence and then drive the fees.
Applying to a bigger cause will also show what you stand
for and that application (if on target) will drive the
leads. Bottom line: all riches come from serving the
greater good.
Prominence 101
OK, so high-fee buyers want you to be famous for doing
good. How to make that happen without appearing self-serving?
My favorite example is Dove Soap’s Real Beauty
campaign. Below are three ideas we can take from their
homerun advertising campaign:
Share
the Spotlight
How did Dove Soap hit a homerun with their Real Beauty
campaign? By not focusing on themselves. Dove used their
multi-gazillion dollar advertising budget and launched
an advertising campaign featuring untouched photos of
underwear-clad women in a wide variety of sizes. Dove
scored not by telling us how to love ourselves but by
showing us how beauty is not limited to the standard
size 2. We got the picture. By sharing the spotlight,
Dove Soap shined.
Key questions: Who can you highlight as an example
of your point of view? What can you do to put your brilliance
in action?
Show vs. Tell
Dove’s latest installment topped the launch. Called
“Evolution,” this one-minute plus film uses
fast-action to show the makeover of a beautiful young
woman. The “Oh Henry” ending: watching as
the finished product is retouched digitally. The last
line says it all: “No wonder our perception of
beauty is distorted.” Think about it: a film lasting
less than 90 seconds demonstrated more than an hour-long
speech on self-image.
Key questions: How can you demonstrate your message
without saying a word? Are you ready to go beyond using
movie clips and make something of your own?
Keep the Momentum
Dove didn’t stop with an advertising campaign.
To implement their vision, the company created The Dove’s
Self-Esteem Fund, a program “aimed at changing
the current, narrow definition of beauty.” It
supports other programs such as the National Eating
Disorder Information Centre in Canada, sponsoring online
learning modules.
Key questions: What other organizations can you support
in your cause? Who can you join forces with to create
learning materials and other tools?
Was this venture profitable? You bet. Sales of Dove’s
products shot up 5% -- a major win in this industry.
The moral of this story: look at what works beyond our
industry; best practices can work anywhere.
Hot, Hot, HOT!!
Living where the temperatures consistently top 105 degrees
makes you question a lot of things. On my mind right
now: Why do I live here? :)
In the dog days of summer, now is the time to sit back
and ponder what works and what doesn’t in your
business. The key word is application. Gone are the
days that we can just talk and walk away. The market
wants more from us. Buyers want to know what
you are doing with your brilliance. Opportunities
will go to those who will step up and make a difference
in the trenches.
Me, unleashed!
What happens when I spend just too much time in the
bat cave? I go nuts in public. That’s what happened
at the National Speakers Association annual convention
in San Diego, where my program “Who Moved my Market?”
was a hit. I ranted, I raved and I found out later that
folks actually took notes. Major learning alert: my
content is my security blanket. When I let it go and
just explain what’s going on, the audience comes
up with their own ideas. Thanks to all who attended
and for your kind words afterwards. It was a blessing
to serve you. (Curious? Click
here and get the CD. I still can’t believe
I said that stuff.)
Birthdays are a Blast
Many thanks to those who participated in my birthday
special. As I get older, I’ve learned that the
best present I can give myself is to help others. What
can be accomplished in one short hour never ceases to
amaze me. When we give focused attention, we can truly
solve the world’s problems. What a wonderful way
to celebrate being on the planet….
I’m known regionally
but can’t seem to break into the national market.
I thought interviews in national media would work, so
I got quoted but the phone doesn’t ring. What did
I do wrong?
A: You didn’t do
anything wrong. You just didn’t do enough right.
National markets are crowded as ever, so it takes more
than one-off color commentary to get on the radar.
What’s hot now: apply your expertise to a bigger
cause that media can rally around. Example: a nutritionist
with a book for kids can list the top ten foods that
make children fat. This list would be a big hit in parenting
media, and align the book with the childhood obesity
issue. This could spur more media interviews as well
as sales.
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