The Race for ROI
Speaking On Impact (Summer 2007)
By Michelle Ray, CSP
We have all heard this lament from audience members: “This all sounds great, but when I get back to work on Monday, you won’t be around to motivate me.” What is the speaker’s role on – and after – the platform? Are we the catalyst, or simply the messenger who is hired for an hour’s “infotainment”? Are we meeting our clients’ expectations and delivering what was promised in the conference brochure? Is it even possible for a keynote speaker to deliver long-term value from one speaking engagement? Such questions were posed to three of our industry’s key players: the bureau, the client and the speaker – specifically, Martin Perelmuter, president of Speakers’ Spotlight speakers bureau, Roberta Kelly, executive director of the Credit Union Insurance Services Association, and Donald Cooper, CSP, HoF, one of Canada’s leading business experts. For the speaking profession, a new imperative now coexists with exceeding client expectations: understanding the value proposition. When we are successful on the platform, our clients feel their investment was justified. When we “bomb,” we are an expense in both money and time. The industry now demands that professional speakers bring not only significant expertise to audiences, but also deliver long-term value to the organization as a whole. The “feel-good” factor is no longer enough.
Q: What does it mean to receive ROI
from a speaker?
Martin Perelmuter
Every speaker needs to deliver so people feel their time was well spent and the client can justify the cost of time employees are spending away from the office. In a sales meeting, people can begin to increase their sales by utilizing the speaker’s ideas right after the presentation. Or if the draw of the speaker’s profile is an important factor, ROI can be achieved by increasing attendance at a conference which can offset the cost of the event.
Q: Can a speaker create long-term ROI from one speaking engagement?
Martin Perelmuter
Yes, although it might not be immediate. It is very important to define expectations. For example, there is a benefit if participants walk away with one idea they can use after a one-hour presentation and actually do something with it. A good speaker creates the impetus for the audience to apply what works for them. On the other hand, if a speaker touches on 10 or 20 points in an hour but the depth of content is missing, there will be no longterm benefit. A speaker can inspire the audience to change what they do, creating a long-term effect rather than just being entertaining. Of course, it is also up to individuals to apply what they hear.
Q: Why do clients invest in speakers’ expertise?
Martin Perelmuter
Professional speakers provide an outside perspective, looking at the situation with different eyes. Many businesses think their problems are unique, but speakers who have worked with a variety of companies can provide valuable expertise by offering examples of what other organizations are doing.
Q: How can speakers create long-term value?
Martin Perelmuter
Exceed expectations. Under-promise and over-deliver on the suggestions, ideas and solutions you are offering. Clients really appreciate speakers who go out of their way to be helpful. Everything speakers do reflects on us, so it is great to have the client tell us how easy the speaker was to work with, how flexible they were, etc. The speaker who is difficult to please and adds stress to the situation makes us question the value of booking them again.
Q: Would a client’s $1,000 or $2,000 budget be a factor in the ROI equation? If clients do not have the money, are they going to get the return?
Martin Perelmuter
As in every realm, you get what you pay for. If a client’s budget is very small, I sometimes tell them of an “up and coming” speaker that I might know. If I can’t vouch for the speaker, I might suggest that the client take the $1,000 or $2,000 and put it toward something else. It is worse to have a bad speaker than no speaker if people can’t wait to leave.
Q: What advice could you offer to speakers to position themselves with the value quotient being top of mind?
Martin Perelmuter
In their bios, speakers need to not only describe who they are and what they have done, but also what benefits clients will receive. Describe what you do in terms of what you can deliver, and look for ways to add value, for example by offering a workshop after a keynote at no cost or low cost. Some speakers do follow-up emails with periodic updates and reminders after the event.
Delivering long-term value for our clients goes beyond saying thank you when the speaking contract ends. When we are on the platform, we need to be aware that clients are not only listening to WIIFM (what’s in it for me) radio, but they are expecting us to tune into another station called MMFI...“Make me feel important.” Our business relationships succeed when we have established credibility, built trust, and provided expertise with practical solutions. Clients see their investment paying off when we deliver on and off the platform, with a genuine desire to be of service long after the gig is over.
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