I am asked to speak at a number of events and conferences. One of the things that I see is on the rise is the fact that many speakers are cutting there speaking fees to the bare minimums to get more work. This is undercutting the industry for those that have been charging fees for their services for a number of years at the same rate. The competition is creating price wars due to the sliding economy.
Some of the things that I see speakers are doing is not figuring in their normal fees are things like expenses for travel, expenses for being on site, and the expense of their time.
Conferences will often times pay for the plane fare to their event, pay for a hotel room for them to be at the event for the duration, and will provide the stipend for their speaking fees. This is becoming a rarity for the event space or conventions and trade shows. We are now seeing speakers lining up to speak at events for the exposure they get and not charging for those other areas. They figure that this is a marketing or an advertising vehicle for their true businesses. They are giving away their expertise on the bet that they may get business from the speaking gig. If that proves not the case, they have lost that opportunity and they are then on to the next gig.
Meanwhile, speakers are devaluing their services and the services of their peers. Their peers are unable to compete with those that are giving away services for free and not charging for things that they normally wold as they are hoping to make that up in the sales cycle. The enabling of this are event planners and convention organizers that are having to cut costs and cut budgets for the content they are providing their attendees. We are seeing the economy change how we do business in this industry and speakers are being hard hit by the new changes. How is the economy changing how you do business? Would love to hear your opinions here.