Meeting planners are finding more success in negotiating with speakers and speakers bureaus in the down economy, in many cases signing speakers for less money, negotiating all-inclusive pricing and getting more value in such areas as audience engagement, event promotion and expansion of their speaking times.
While upper-echelon speakers—celebrities, former presidents and athletes—still demand top dollar, many meeting planners are opting for speakers who focus on business content and the economy, who typically carry a smaller price tag.
The price point for speakers with that background is very flexible, said Kelly Connolly, manager of corporate events at Bordentown, N.J.-based Global Planners. Speakers in the $10,000 to $25,000 range, are reducing rates by $2,500 to $5,000, she said, and including their travel in the fee, while negotiating such add-ons as moderating other sessions and speaking for longer periods of time.
"Speakers and speaker bureaus used to be very specific—you get 60 minutes, the Q&A is included in that, they are leaving immediately after the speaking time and need a black car on standby," said Connolly. "Now, they are definitely demonstrating more flexibility."
Buyers are limiting the amount of money dedicated in meeting budgets for speakers, and lower demand is driving fees down.
"Several years ago, in the heyday, this time of the year it was typical to get an onslaught of e-mails from speakers saying that effective Jan.1 they were increasing their fees," said Gail Davis, president of Colleyville, Texas-based speakers bureau Gail Davis & Associates. "We didn't see that last year and we're not anticipating that this year."
Some corporations are having their own executives headline internal events to keep budgets down and motivate employees.
"It used to be a lot of big names on the agenda," Connolly said. "We are filling more of the holes with internal folks, which cuts cost and is important to the audience to give them a sense of where their company is going."
With speakers widely available and continuing uncertainty in meeting schedules, lead times have decreased considerably.
Historical speaker booking lead times were from six to 12 months, but "right now the sweet spot is three to six months," said Gary McManis, vice president of Arlington, Va.-based Keppler Speakers.
Maintaining somewhat lengthy lead times is key in using speakers to help market an event, especially if they are asked to engage in podcasts and other pre-event promotions as part of their contracts.
"The keynote speaker can sometimes drive attendance for your programs, and you want to have that solidified as quickly as possible to have the speaker in the marketing," said Meeting Expectations director of meetings Kowana Ragland. "Typically, you want to book a speaker at least six months in advance."
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