I haven’t posted a whole lot lately. Because frankly, the speaking industry in 2020 sucked! Sure, there are speakers who are still working, and even some who are making decent money right now. There were people who made a fortune during the Great Depression. But most people were just barely scraping by. Most of the best speakers I know are not working. Obviously, Covid has put a huge damper on the live event industry in general and speakers are having a hard time right now.

Speakers are having a hard time right now

Many people will tell you that everything is simply going virtual for now and in the future. But this is a simple explanation that I’ve found is not true. Many people will tell you that the speaking industry is booming and the best it’s ever been. Also, not true. After interviewing hundreds of planners and others involved in the speaking industry, I’ve discovered that there is no one reason why speakers are having a hard time right now. It’s a deeper issue. Here are some of the things they’ve told me:

Live events up in the air

With Covid still hanging over us and variants popping up, meeting planners are hesitant to book a live event. Where they used to plan 6 months to a year in advance, now committee meetings are being put on hold. That’s just to discuss the dates and locations. Attendees are hesitant to make reservations, and the meeting planners need to have a certain number of attendees just to put on the event. Some are ready to travel and go to a live event and some aren’t.

Can’t you just go virtual?

So, if everything is so tentative, why not just go virtual? Zoom fatigue is real! Maybe in the beginning it was a necessary novelty, but not everyone wants to pay good money to watch speakers on a Zoom call. It doesn’t matter how interesting they are. Sure, conferences can charge less because it’s online, but then they also want to pay speakers less also. And, because watching speakers online is tiring, they tend to spread the conferences out for several days or even longer. I just attended a conference myself that went on every day for 2 weeks. The information was incredible. The speakers were interesting. I still couldn’t handle it for more than 15 minutes at a time. I can’t tell you the number of classes and webinars I have sitting in the que that I haven’t gotten to yet. Many people are simply Zoomed out.

So, the idea that we are only going to be speaking virtually from now on is not true. What could be true is that conferences will have other options besides just live events. They’ve been doing a combination of live and streaming for a while now. I remember several years ago speaking to a group of scientists in New York, but they wanted to have their employees in Denmark see it. So it was also live-streamed to them.

But make no doubt about it, there is a lot of pent-up demand for travel. Speakers and others who work in the live event industry do it for a reason. They are social people who like to travel and meet new people. Otherwise they would have a desk job. The speaking industry is not going to remain virtual forever.

Discontinued conference

A number of conferences are folding completely. Not all of this is due to Covid. Some have mentioned that their attendance was dwindling even before. Since this is a sponsorship site, I’ll mention that sponsorship is dependent on ears and eyeballs in the audience. The fewer people you have in the audience, the less you will be able to attract a sponsor. Or the less that sponsor will be willing to pay. At some point conferences have just decided to cancel for now. That means no jobs for speakers.

Mergers

Some conferences have decided, even before Covid, that they need to partner with their competition in order to have enough attendees to make it worthwhile. I spoke at one of those a few years ago. Several competitors just got together and had one big conference. They split the expenses and marketing. With 3 of them it was a pretty decent crowd. But, this also means they need fewer speakers. One more reason speakers are having a hard time right now.

Using industry speakers only

Part of this has to do with budget cuts, but this trend has been going on for a while now. Some conferences simply don’t hire outside speakers. And even ones that have in the past are turning to industry speakers this time around. I’ve even heard from sponsors that they want their own people to speak. Nothing you can do about that. But that doesn’t mean they are good speakers. It means they are footing the bill. And money talks. That’s why you need to find sponsors who are not looking to speak and would love to sponsor you to do that for them.

Carried over speakers from 2020

Since so many conferences were cancelled in 2020, most who had hired speakers simply rolled them over to 2021. Now if they don’t have the conference in 2021, that rolls them over to 2022. This means that fewer speakers have opportunities right now. That’s not going to last forever, and things will go back to some normalcy fairly soon.

Budget cuts

It sucks that we were finally at a point where meeting planner budgets were increasing. But, that has taken a nosedive. If you’ve been a speaker for any length of time you know that economies wax and wane all the time. I’m being told that even the budgets for big sponsors has gone down. But I’ve always made sure to line up more than one sponsor anyway. About half of all speaking jobs out there, even before Covid, are free ones. If you are able to come in with a sponsor for a free job you have a much, much better chance of getting that job and getting paid. Meeting planners need good speakers. But if they can’t pay for them, the next best thing is getting a free speaker with their own sponsor. This is how I’ve managed to make money for years as a speaker, even when the economy was bad. There are always ways to work around the free speaking thing by using sponsorship and multiple streams of speaker income. When times are tough you can prosper when everyone else is running around clucking like a chicken. This is how clever entrepreneurs became successful during the Depression. I hate to use the hack terminology of pivot, but that’s what you have to do.

Speaking industry goes in cycles

But it’s not all bad news. Everything in the speaking industry goes in cycles. Yes, speakers are having a hard time right now. But that will change.

This is a time for you to step back and figure out where you fit in in the speaking industry. Figure out other ways to make a living at it. Figure out if you are still really committed to it. And if you are, commit to learning, growing, and being the best speaker you can be. So that when things turn around (and they will), you will be ready.