Having a great keynote speaker can make or break an event. The quality of the speech they deliver shapes audience impressions and may determine how memorable the event is. However, though event speakers add a great deal of value, their services also come at a cost.
If you are considering hiring a keynote speaker, you will want to know what to anticipate in terms of expenses. Details that influence the price tag on a keynote speaker include everything from the type of event, duration, and location, to speaker experience and prestige.
This article will explain the items that factor into the cost of a keynote speaker like travel costs, accommodations, a well-produced presentation, and sometimes live streaming. Read on to find out the answer to ‘how much does a guest speaker cost’ and learn to navigate possible hidden fees when event planning.
What is a Keynote Speaker?
Before we can figure out how much a speaker costs, let us first establish what exactly the role of a keynote speaker is.
The job of a keynote speaker is to kick off an event with a grand opening address. They drive the messaging and set the tone for the event by delivering a speech that conveys its purpose and captures its importance. Keynote speeches are common at organized meetings, conferences, summits, conventions, fundraisers, galas, and many other types of industry events.
A keynote address serves many important purposes, including:
- Piques the interest of attendees and captivates an audience
- Provides information about relevant ideas and concepts
- Helps unify audience around key themes
- Inspires, excites, engages, and motivates
- Makes for a memorable experience
Keynote speakers come in all different shapes and sizes. Some people are professional keynote or motivational speakers and make their living off of giving public speeches. Other times career professionals, celebrities, politicians, and other distinguished individuals are invited to deliver keynote speeches for special events.
Expenses to Consider
The cost of a keynote speaker ranges anywhere from a few hundred dollars to over one hundred thousand. To appropriately budget for a guest speaker, it’s crucial to account for intrinsic speaker fees as well as supplementary expenses, both of which we will cover below.
Keynote Speaker Fees
Keynote speaker fees depend upon two primary factors, the nature of the event and the status of the guest. The production level of an event is determined by concerns such as the host and occasion, the size and length, and the location and budget. Meanwhile, a speaker’s value is determined by their reputation, experience level, career accomplishments, and name-recognition.
Though not always the case, the stature of a speaker is often proportional to the size and scale of the event. For example, a huge corporation putting on a major business conference is more likely to hire an expensive, high-profile speaker than a nonprofit hosting a small lunch for new employees. A good general formula to refer to is: big events + big bucks = bigger names.
To help you understand what type of speaker you might get for “x” amount of money, here is a breakdown of typical keynote speaker price range brackets:
- $500 – $1,500 (Neophyte) – Newbies cost less. Inexperienced speakers who are still trying to break into the industry give speeches for less money. A novice speaker in this price bracket would be suitable for a more intimate meeting with a small audience, a conference organized by a nonprofit, or any other low-budget event.
- $1,500 – $5,000 (Modest professional) – You can expect to pay this much for non-famous industry professionals or professional public speakers with moderate experience. This is decent compensation for those who make their living giving speeches and could thus secure a good speaker for a modestly sized event.
- $5,000 – $10,000 (Top-professional) – At this rate, you can hire accomplished career professionals and seasoned speakers. These speakers have experience making keynote addresses and attract attendees to the event. Examples of distinguished speakers in this range include professional athletes, successful business people, and published writers. A larger budget would be required to be able to afford such an established speaker.
- $25,000 – $50,000 (Celebrity speaker) – These speakers are well-known individuals and household names. Their reputation and name-recognition make them expensive, but also draw crowds and add value to the event. A renowned Harvard professor or best-selling author would fall under this bracket. Major corporate conferences or international summits might have the funds to secure a celebrity speaker.
- $50,000 – $100,000 (A-list celebrity) – This bracket is reserved for first-rate speakers, the crème de la crème of famous individuals. Hiring a top celebrity is costly, so it may only be feasible for sponsored events or events that turn a profit. For example, at a big ticketed event, the money from ticket sales could be used to balance the cost of an A-list speaker. Events of this caliber are big enough that it is usually not only a client’s honor to host the guest speaker, but also an honor for the guest to be speaking there.
- $100,000+ (VIP) – This ballpark is reserved for a select few outstanding individuals. Other than maybe Oprah, prices upward of $100,000 mostly apply to famous politicians—think Barack Obama, Donald Trump, etc. For example, Forbes reported that former President Bill Clinton’s fees have, at times, been over a quarter of a million dollars.
Can a Keynote Speaker Be Free?
The answer to this question is yes; there are a handful of cases in which a keynote speaker can be cost-free. If the speaker stands to make money from the event indirectly, they may waive fees. For example, the promotion and exposure a consultant will get from giving a motivational speech might help them gain new clients from the audience.
Celebrities sometimes volunteer to speak at philanthropic events or fundraisers. If the event is conveniently located, and the message or the audience highly motivates the individual, they may consider delivering a keynote address for free or at a reduced rate.
Lastly, novice speakers at the beginning of their careers often offer free or low-cost services. This arrangement is mutually beneficial because unestablished speakers get experience and exposure under their belts, which will eventually allow them to charge more. An emerging speaker might work pro-bono or just ask for reimbursements for travel expenses. This brings us to the next topic of additional costs.
The overall cost of a guest speaker hinges not only upon the keynote speaker’s fees, but also on other details relating to the given event. Outside expenses to consider include:
- Travel – Sometimes, guests have to travel to get to the event they’re speaking at. In most cases, speakers don’t pay out of pocket for travel, and clients are expected to cover the speaker’s expenses. Costs incurred may include domestic and international flights, hotels, and additional costs like food or other accommodations.
- Live streaming – Do you plan on live streaming a keynote speech? If so, you will likely be racking up extra costs. For starters, equipment—cameras, cables, speakers, mics—can be expensive. Furthermore, there needs to be people working the equipment, which means paying technicians, operators, IT, etc. Live streaming the program also comes with a host of other concerns based on the stream’s complexity like:
- Platform – Are you using professional services or a consumer-level social media platform like Facebook or YouTube Live? Although consumer-grade platforms are often free, streams get interrupted with ads, and they tend to have worse audiovisual quality.
- Stream duration – Is the speech long or short? It’s important to keep in mind that some presentations can be hours long. Streaming costs like staff, bandwidth, platform access, and more compound overtime.
- Hardware/software – Live streaming the program requires specialized technology. For example, encoding software is needed to convert raw video content into a streaming-compatible format. In turn, computer hardware is usually necessary to operate such software. Therefore, it’s important to factor in these potential costs.
- Production value – A well-produced presentation involves more than just having a keynote speaker show up and talk on the day of the event. A good speech might be accompanied by visuals and presentation slides, conference music, audience involvement, stage set-up, and other interactive conference ideas. In turn, organizing these details may add to the cost of a keynote speech.
A Final Note
When planning out your business conference activities and event components, booking a keynote speaker should be at the top of your list. It is important to remember that different types of professionals are suitable for different occasions and audiences. Keynote speakers not only range in cost but also vary in area of expertise and scope of experience. Finding a good speaker is not always a matter of paying the big bucks so much as it is about choosing the right caliber and kind of speaker for your specific event.
Overall, a keynote speaker is an extremely valuable addition to any corporate, commercial, or industry event. Their time and expertise are worth more than just dollars; a good speaker can captivate an audience, carry a conference, and accentuate the significance of an event. A strong keynote speech can truly energize an event and is well worth the investment.
If this is your first time planning an event, or even if it’s not, hiring an outside event planning management company with plenty of experience and contacts in the industry is the smartest decision you can make to ensure successful event execution. An outside event company, like Vario, is the expert in the event planning and production world and will be your number one advocate with the trust of transparency to ensure that your event needs are met. With the knowledge of the best event partners out there and the power of negotiation, you will be ensured to get the best service and creativity at the best price.