I’m summarizing several articles with information gleaned from MeetingsNet.
• Speaker Fees Rising More Than Event Budgets – Be aware that meeting professionals report that this is what they see. They also report some disconnect between speakers and planners that we must be aware of. This is a constant and predictable market tension, in my opinion. An industry survey indicated that meeting professionals had more money to devote to event speakers, while speakers indicated their fees were increasing. What can you do in response to this? Be flexible. Get great at negotiating because that’s what you’ll be doing.
• Lead Times for In-Person Meetings – Interesting finds here. 44% of Planners prefer booking starting speaker searches six months before an event, while 24% prefer to book four to six months ahead. As for speakers, we prefer shorter lead times, according to MeetingsNet. 70% prefer one to four months lead time.
• The Meeting – Planners report for in-person or hybrid; preferred time is 45-60 minutes. They’re also asking for more from keynote speakers. They want “added value,” such as meet and greets, book signings, pre-event publicity, and private meetings with the executive team and sponsors. Be thinking about what you can offer. Note: National level associations are punting on hybrid due to cost right now. They’re trying to get people back into live events and live attendance.
Keep your eyes on the news. The hospitality industry in California is experiencing challenges. You have read that hotel workers went on strike over the July 4th holiday. They’re now back on the job, but the union warns that more walkouts are possible. This is something that could spread.
Stay as flexible as you can. The speakers who are going to get booked are the ones who are responsive, attentive to meeting professional needs, and good at negotiating fees and value.
Copyright 2023, Lois Creamer, Book More Business. Lois works with professional speakers who want to book more business, make more money, and fully monetize their message.
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