Today's post is by Nicole Newton, Keynote's Marketing Assistant. She had the pleasure of seeing Bill Clinton speak while she was living in New York. Her ticket to the event was free.
There's been a lot of noise about Bill Clinton receiving $500,000 to give a 45 minute speech to the Jewish National Fund in Israel. To put that in perspective, while most of us make 17 CENTS per minute, Bill Clinton raked in (and then donated) an astonishing 11,000 DOLLARS per minute to give this speech.
With this in mind, is there ever a tangible benefit for paying someone several thousand dollars a minute to speak? CEO of branding agency Turkel Brands and Melissa Francis's favorite branding expert, Bruce Turkel, recently weighed in on this issue on FOX Business's Money With Melissa Francis.
Bruce argues that hiring a big name speaker was a good move for the Jewish National Fund for several reasons:
1. The organization has received a staggering amount of publicity, including several articles and mentions on national and international TV slots, since it was announced that Bill Clinton was speaking at their event.
2. Bill Clinton meets both aspects of the "exhange of value" an organization expects from a speaker. Bill Clinton has the name recognition that can pull in high attendance to an event and can provide high-value content to the organization.
3. The speaker is worth the fee. Bruce argues that some people, such as Snooki, who received $32,000 for the commencement address she gave at Rutgers, don't give a client their money's worth. On the other hand, a speaker with years of relevant experience is worth the fee because of the value they offer the audience, or because the high profile name draws more attendees.
Watch Bruce's full appearance here to see why Melissa Francis repeatedly invites Bruce on the show to talk about current branding and advertising strategies.
Let us know what you think by leaving a comment below. Or, if you're looking for a speaker that won't run you $500,000 for your next event, give Keynote Speakers a call.