How to Negotiate the Best Speaking Fee Every Time

On a forum for speakers, one of the participants raised the question about whether to stand firm on fees or whether to reduce them under certain conditions:

"Over the past 5-6 years that I have been speaking, I have read articles, heard tele-seminars and listened to speakers talk about standing firm on fees. I've heard things like, "Quote your fee and then keep your mouth shut." "You're worth every penny." "Don't negotiate."

....

I do agree that we will get our full fee more often if we do a better job standing firm. But in the real world, when you're trying to get established, and at the same time working as a professional speaker, it's not as easy as it sounds."

(That's not the entire question, but it's enough to make the point)

This is my response ...

I'll quote my response in full here, because I think it has some value for any information expert - whether or not you're a "speaker".

"One of the biggest mistakes speakers make is to position themselves as speakers.

I know that seems like an odd statement, particularly in "a community for speakers"! So let me explain ...

Position yourself as an expert, not a speaker. This is not just playing with words. It's a significant difference in your mind and your clients' minds.

When you're a speaker, you have a speaking fee, and you get stuck in this sort of discussion about whether to stand firm on fees or not. When you're an expert, you don't.

Instead, you focus on finding clients who want and need your expertise, and then offer it in different ways, depending on their needs, budget, outcomes, etc.

For example, in my business, if a client wants to know how to tap into the whole Web 2.0 phenomenon (this is one of my areas of expertise), she has many choices:

* Subscribe to my e-zine, blog or podcast (free)
* Watch my presentations on YouTube or SlideShare (free)
* Buy an audio CD/e-book program ($60)
* Attend a half-day public seminar ($350)
* Join my membership site ($70 per month)
* Buy the "Web 2.0 bundle" of CDs/e-books/books ($500)
* Get a one-hour phone coaching session ($1,200)
* Subscribe to a six-month public seminar series ($2,000)
* Get a two-hour face-to-face consulting session ($2,500)
* Sign up for a three-month mentoring program ($5,000)
* Book me for a 45-minute keynote ($6,000)
* Get me in to develop a customized in-house training/facilitation program (negotiable)

The point is, I'm not selling myself as a speaker; I'm selling myself as an expert. And this makes a HUGE difference when talking fees.

You only want to pay $3,000 for a keynote? No, thanks, but for $3,000 I'll run my public seminar in-house for, say, 10 of your staff.
You don't want the $1,200/hour phone coaching? Fine, buy the product bundle at $500.
Can't afford the $5,000 mentoring program? OK, get a one-hour phone session for $1,200 and then join the membership site at $70/month.

My job is to (a) clarify their desires/goals/objectives/outcomes, (b) discover their budget and other logistical requirements, and (c) propose a solution that meets (a) and (b). In other words, if they have a round hole, my job is to find a round peg to fill it.

I know this all sounds like Sales 101, but don't under-estimate it! It's very different from the "Should I negotiate my fees?" question, which is about their round hole, your square peg, and the struggle to make them fit.

How does this apply to YOU?

Can you use this idea in your business to help you set your fees and stick to them? Remember, they're buying value, so it's your job to create that value in their minds.