Learn my exact strategy for increasing fees to maximize revenue without scaring away prospects.
By Andrew Davis
Rising demand… A new audience… An increase in stageside leads… Peak season gigs… Or sudden fame…
You’ve seen one of these five triggers in play…
And you’re ready to take the plunge…
It’s time to increase your quotable fee!
:: Cue awesome soundtrack ::
First off, I’m thrilled for you. It’s exhilarating when one of your speeches starts performing really well. It’s even more exciting when you have the opportunity to maximize your revenue with some simple pricing strategy.
Remember, you will set our quotable fee based on a specific speech. That’s why I have a higher rate for my long-running Loyalty Loop speech than my brand-new Pyramid of Influence speech.
Today, we’ll look at how you should increase your fees when each of the 5 triggers is in play. If you don’t go about this the right way, you risk taking all that newfound opportunity… and ruining it.
Trigger #1: You’re Winning More than 50% of Your Gigs
If you’re tracking all of your dates, inquiries, fees, and wins, it should be easy to see precisely when your win percentage exceeds 50%.
When your demand is really high, and you’re winning all your gigs, it’s time to increase your fee.
My suggestion is that you don’t just pick a blanket number. Instead, increase it in small increments for each new inquiry you get. You’re trying to test the market with just 5-10% increases.
Keep doing this until you start to hear people balk. This is when event organizers begin saying things like: “Wow… that’s a little outside our budget. Let me think about it.” When this happens… back off a bit. Drop the fee down a bit for the subsequent inquiry.
Quick Example
Here’s how this would look in real life:
