Dan Martell - September 16, 2019


How To Measure The Value of a Speaking Opportunity


Episode Stats

Length

13 minutes

Words per Minute

206.70563

Word Count

2,688

Sentence Count

143


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

Transcript generated with Whisper (turbo).
00:00:00.200 Hey there, I'm Dan Martel, serial entrepreneur,
00:00:02.040 investor, and creator of SaaS Academy.
00:00:04.720 And in this video, I'm going to share with you
00:00:06.760 a strategy for measuring the value of a stage.
00:00:10.680 If you're thinking of doing some speaking,
00:00:12.180 you're a founder, you're getting asked to speak all over the world,
00:00:14.740 or just in your local community, and you're wondering,
00:00:17.000 should I invest my time and energy in doing that?
00:00:19.800 In this video, I'm going to share with you guys the math,
00:00:22.120 the strategy, the way to think about it,
00:00:24.360 so that you can get the most use of your time,
00:00:27.040 or the most value from your time speaking.
00:00:28.720 And be sure to stay to the end where I'm
00:00:30.220 going to share with you how to get access to my Precision
00:00:33.280 Scorecard framework, which is going to help you track and
00:00:36.380 monitor and hit your targets, not only in your business,
00:00:39.220 but even monetizing your stages.
00:00:54.400 So when I say stages, I mean physical stages
00:00:57.540 in digital stages, OK?
00:00:59.260 So anytime you get an opportunity to speak in front of a room,
00:01:01.920 that is a stage.
00:01:03.460 Now, I get all of this strategy, the concept of an SVI,
00:01:07.800 a lot of the strategies I use to collect leads from the room,
00:01:10.780 et cetera, from my buddy Pete Vargas.
00:01:12.320 So if you're interested in learning more how
00:01:14.060 to use speaking as a way to monetize your time,
00:01:17.760 go Google Pete Vargas.
00:01:19.020 He's the world's best.
00:01:19.960 He does this on a level I can't even describe.
00:01:22.460 And a lot of the concepts I'm going to share with you
00:01:24.580 are 100% conversations I've had with Pete.
00:01:27.640 But recently, I had two clients, Kyle and Annabelle,
00:01:30.460 reach out asking me about how I decide what events I speak at
00:01:33.940 and which ones I say no to, and really try to understand
00:01:37.660 how they can justify that time being away from their company,
00:01:41.440 their startup, to their co-founders,
00:01:44.020 and still add a lot of value to their business.
00:01:46.540 Because I know in the early days, I felt like, yes,
00:01:49.600 I was getting a lot of practice.
00:01:50.800 I wanted to share my story.
00:01:51.660 I wanted to share the content.
00:01:52.960 I wanted to add value.
00:01:54.280 But you've got to ask yourself, is this really
00:01:56.420 moving my business forward?
00:01:58.300 And I would say for like four years of speaking,
00:02:00.620 I don't think I really had a strategy
00:02:02.080 until I got frustrated.
00:02:03.460 I learned this from Pete, and now I
00:02:05.520 quantify everything so I can understand
00:02:07.940 not only are the events I do today, are they valuable,
00:02:11.240 but should I redo them next year if I
00:02:13.180 have the opportunity to speak again?
00:02:14.900 So that's what we're going to cover in this video.
00:02:17.080 Number one, the goal of the stage.
00:02:20.280 So before you say yes to getting on a podcast
00:02:23.280 or speaking engagement, or even doing a webinar,
00:02:26.220 you've got to ask yourself, what's
00:02:27.560 the goal or the expectation of that outcome?
00:02:30.380 I mean, I know that sometimes you feel compelled
00:02:32.300 to just want to give, but you also
00:02:34.200 got to ask yourself, what's the value of your time?
00:02:36.220 So before I ever say yes, I'm always
00:02:38.320 asking about the size of the audience,
00:02:40.420 if it's an existing thing, how many people attended last year,
00:02:44.640 the makeup of the audience, so I know if my ideal customer
00:02:47.220 is going to be part of that makeup,
00:02:49.340 and really just kind of set some personal goals
00:02:51.620 is what kind of outcome do you want
00:02:54.140 to achieve from either monetization or lead gen
00:02:57.680 from that speaking engagement?
00:02:59.040 Because if you're going to invest the time,
00:03:00.680 you need to make sure that it gets the results
00:03:02.900 that you're looking for.
00:03:04.040 The other thing I'm going to suggest
00:03:05.240 is from a goal point of view is make a list of some dream
00:03:07.940 stages, ideally four.
00:03:09.300 Think about this.
00:03:10.040 What are the four dream stages, digital or physical,
00:03:13.520 that you could set as a vision for someday getting invited
00:03:18.360 or applying to speak on those stages
00:03:20.140 that you knew if you had the opportunity to share your message,
00:03:22.640 share your content, that it would drive your business forward
00:03:25.600 in an extremely meaningful way.
00:03:27.620 Those are dream stages.
00:03:28.600 But first, you've got to set the goal.
00:03:30.540 Number two, capture leads.
00:03:33.100 If you're going to invest time traveling
00:03:35.640 or block out some time in your calendar to prep
00:03:37.820 and then do a podcast interview or webinar,
00:03:40.820 you want to make sure that at the end of that webinar,
00:03:43.280 throughout that webinar conversation,
00:03:44.780 that you're creating opportunities
00:03:46.300 to capture the audience into your world.
00:03:49.220 So the easiest way, and this is what I do,
00:03:52.260 is I have a valuable piece of content,
00:03:55.020 some kind of framework, et cetera.
00:03:56.280 Just like in this video, the precision scorecard
00:03:58.580 is an example.
00:03:59.360 So if you want to see kind of the things
00:04:00.680 that I give away when I talk, you can go check that out.
00:04:03.600 But it's something where I teach and I say, hey,
00:04:06.500 I've got this handout, this worksheet.
00:04:08.500 If you want to get a copy of it, click the link and download it.
00:04:11.060 And all I do is I set a unique link
00:04:13.340 based on the event I'm at.
00:04:14.880 So if I'm speaking at SAS stock, it's danmartell.com
00:04:18.040 forward slash sasdoc.
00:04:19.760 And then that way, there's a bit of tracking.
00:04:21.840 It's super easy.
00:04:22.700 Same thing with podcasts.
00:04:24.040 It's always the URL of the name.
00:04:26.660 The URL turns into the name of the podcast you're on.
00:04:29.680 That way, you can set some tracking
00:04:31.240 and know how many people from that audience
00:04:34.280 resonated with your message and decided
00:04:36.220 to download the thing that you built.
00:04:39.320 And that, to me, is a must, right?
00:04:41.660 My buddy Pete would tell you, no,
00:04:43.020 you need to do a card on the seats and handouts
00:04:45.260 and get them to fill it out.
00:04:46.280 It's an interest card.
00:04:47.200 He's next level at this.
00:04:48.580 But to me, I want to get on stage.
00:04:50.320 I just want to teach.
00:04:51.200 I want to add a lot of value.
00:04:52.320 And I want to give everybody the opportunity
00:04:54.140 to essentially download some more content
00:04:56.440 to help them with that and also get on my email list
00:04:59.020 so we can continue the conversation.
00:05:00.960 Number three, conversion tool.
00:05:03.320 So no matter what kind of speaking you're doing,
00:05:05.880 whatever you're selling, software, et cetera,
00:05:07.940 there needs to be some kind of process
00:05:11.020 to essentially get somebody to become a customer.
00:05:13.600 And now, this doesn't mean there's any hard pitch.
00:05:15.500 You're not calling up.
00:05:16.200 You're not sending it to your sales team
00:05:18.020 and they're being aggressive.
00:05:19.280 It's some kind of funnel.
00:05:21.060 So for me, it's a conversation with one of our scale
00:05:23.980 specialists.
00:05:24.780 And it's really simple.
00:05:25.880 At the end of the day, if they download your lead magnet,
00:05:28.260 you can have on the thank you page a prompt that says, hey,
00:05:32.200 you just downloaded this thing.
00:05:33.700 Sounds like you have this problem.
00:05:35.020 Do you want to talk about it and get some insights
00:05:37.440 and some advice on how you might be able to move faster
00:05:39.580 and overcome that challenge?
00:05:41.400 And it's book in our calendar.
00:05:43.480 It can be literally that simple.
00:05:45.060 So think about it this way.
00:05:46.440 Every time you speak, you add a ton of value.
00:05:48.440 You transform people's lives.
00:05:50.200 To me, I think it's an honor and a real privilege
00:05:53.000 to have the opportunity to speak.
00:05:54.780 I think for if you're going to get on a stage,
00:05:56.940 digital or physical, and your intention
00:05:59.240 is not to transform lives, you should give up your spot
00:06:02.180 and give it to somebody else because it is an incredible
00:06:06.240 privilege to be able to do that, and that should be the outcome.
00:06:09.360 So as soon as you do that, you have the opportunity
00:06:12.360 to connect with your audience.
00:06:13.660 you capture their email address, and then on the next page,
00:06:17.460 you say, hey, do you want to have a conversation?
00:06:19.720 Do you want to try our software?
00:06:21.180 So whatever your conversion tool,
00:06:22.900 usually there's three, free trial as a conversion tool,
00:06:25.400 so sign up for a free trial, two is get a demo,
00:06:28.240 and third is let's talk about deploying a proof of concept.
00:06:31.040 That's more for an enterprise sale.
00:06:32.780 But you want to have a conversion tool set up
00:06:35.080 on the back end of the lead capture process
00:06:38.320 so that you can actually have a funnel and a pipeline
00:06:42.340 to monetize that audience.
00:06:45.320 Number four, measure SVI.
00:06:48.260 So SVI stands for stage value index.
00:06:51.020 So here's the simple math.
00:06:52.700 If I go speak to 100 people, I get 10 opportunities
00:06:56.140 that essentially maybe I might get 20 people
00:06:59.740 that download the thing, 10 of them
00:07:01.840 decide to book in for a call with a scale specialist,
00:07:04.640 and let's say half of those people decide to move forward.
00:07:08.200 All of a sudden now, I have a, and usually
00:07:10.680 want to do it in some kind of timeline,
00:07:13.020 maybe within the next 90 days from you speaking at that event,
00:07:16.060 you obviously track it.
00:07:17.400 What was the monetization?
00:07:18.700 What was the revenue directly attributed to that event?
00:07:21.420 Obviously, there's going to have people that see you speak,
00:07:23.860 refer folks.
00:07:24.660 It's kind of like off-tracking.
00:07:26.640 Totally fine.
00:07:27.440 You don't have to take that into consideration
00:07:29.520 if you know it's about 10% or 15% more than what
00:07:31.760 you can directly track.
00:07:32.880 Great, put that in your numbers.
00:07:34.100 It doesn't really matter, other than you
00:07:36.040 want to rank your stages.
00:07:38.560 So being able to say, hey, I did these 15 podcasts last year.
00:07:43.120 And the monetization for those podcasts
00:07:45.260 were ranked this way.
00:07:46.120 And these two, which may not be the most notable, which
00:07:49.640 may not have the biggest audience,
00:07:52.360 generated the most opportunity for your SaaS, for your product.
00:07:55.260 I mean, that to me is really cool,
00:07:57.400 being able to make that decision for in a couple of years
00:08:01.120 on a podcast saying, hey, I'd really
00:08:02.440 like to do your podcast again.
00:08:03.920 Or speaking on a stage, especially
00:08:06.100 if you've got to travel internationally.
00:08:07.800 You got to be away from your family for two or three days.
00:08:10.000 Be away from your team.
00:08:11.100 Those are big commitments.
00:08:12.840 Being able to quantify the value of a stage, to me,
00:08:16.620 is how we get more deliberate and strategic about speaking
00:08:20.640 so that it doesn't feel, A, like you're
00:08:24.660 sacrificing your business, because that's usually
00:08:27.060 the concern.
00:08:27.600 That's why my coaching clients reached out to me
00:08:29.340 and asked me about this.
00:08:30.900 And two, you're able to really start to optimize and say,
00:08:33.960 OK, well, audiences that look like this
00:08:36.060 seem to have the best results for the story
00:08:39.060 and the message that I'm sharing, how do I do that?
00:08:41.920 And it really gives you a feedback loop for you
00:08:45.420 to be a better speaker.
00:08:47.340 Because what I know is that if we're
00:08:49.560 better at connecting and sharing and being authentic
00:08:52.920 and really adding a lot of value,
00:08:55.080 that when we go to say, hey, I got this thing to help you
00:08:57.720 move faster, your lead capture, they're going to fill it out.
00:09:00.780 They're going to download it.
00:09:02.060 Because they can't believe the amount of value you just
00:09:04.480 share it in 25, 45 minute keynote.
00:09:07.660 So that to me is why it's so important to actually
00:09:10.940 measure the stage value as an index and rank order it
00:09:14.800 to be able to help you not only get better,
00:09:16.480 but also decide which ones you do again in the future.
00:09:19.500 Number five, look for leverage.
00:09:21.580 So one of the things that I'm always asking myself
00:09:24.140 is how do I get more out of my day?
00:09:25.480 Literally, it's time blocking.
00:09:27.100 It's scheduling.
00:09:28.160 It's evaluating.
00:09:29.520 Is this an F yeah?
00:09:30.700 And for me, speaking is awesome.
00:09:32.620 I love, if you ever see me at an event,
00:09:34.300 I love talking to people.
00:09:36.100 I usually stick around for the whole event.
00:09:38.560 But recently, I was really inspired
00:09:40.780 to do an interview show, my new Escape Velocity show.
00:09:43.620 And one of the things we realized
00:09:45.820 is if I had to fly around to interview
00:09:49.140 all these incredible founders, it would probably
00:09:51.520 be a no-go.
00:09:53.200 I have a young family.
00:09:54.380 I've got existing commitments.
00:09:55.620 I've got other business opportunities.
00:09:57.460 I can't add that much more travel to my schedule.
00:10:00.200 And what we realized as a team was, hey, Dan, well,
00:10:03.440 you're already at an event, why don't we just set up
00:10:05.680 a interview spot in one of the green rooms or a separate room?
00:10:08.760 And you could leverage the time being at that event
00:10:11.760 to also invite speakers that you want to connect with that
00:10:15.200 have already flown in that are there
00:10:17.480 to do the Escape Velocity show.
00:10:19.640 And that is how it works.
00:10:21.800 So if you look at the episodes, even though we shoot them
00:10:24.740 live on video and audio on the podcast,
00:10:27.080 they are all shot in different locations.
00:10:30.000 So they're kind of done in batches.
00:10:32.080 And then we release them every two weeks.
00:10:34.140 And they're done at every speaking event
00:10:37.020 that I go and speak at.
00:10:38.260 And now it's gotten to the point where we're already booked
00:10:40.420 into next year, where organizers want us to come,
00:10:46.580 because not only do they want me to speak on their stage,
00:10:48.680 they want us to have the Escape Velocity show on location
00:10:52.440 to add even more value to the other speakers.
00:10:54.780 And I think that is just a really neat way to ask yourself,
00:10:57.800 like, OK, if I'm going to speak, yes,
00:10:59.600 I want to make sure there's an audience
00:11:01.400 for my products so that I'm getting the benefit
00:11:03.520 from a business point of view.
00:11:04.820 But there's also things like business development
00:11:07.500 opportunities that you can optimize.
00:11:09.080 There's customers in those cities
00:11:10.700 that you could be reaching out and connecting with
00:11:12.620 and trying to get leverage from it.
00:11:14.040 There's other speakers that could
00:11:15.920 be potential advisors or folks that
00:11:18.480 could introduce you to investors for your next round
00:11:20.480 of funding.
00:11:21.320 So there's a lot of other things,
00:11:22.880 but you have to look at it from a leverage point of view.
00:11:25.160 You've got to be strategic.
00:11:26.160 You actually got to put a little bit of time
00:11:27.960 in before you show up so that you can get the most out
00:11:30.500 of that event.
00:11:32.120 So real quick recap, how to measure the value of your stage
00:11:35.720 using the SVI formula.
00:11:37.100 Number one, you have to set some goals for your stages,
00:11:39.880 especially some dream stages.
00:11:41.060 Number two, capture leads.
00:11:43.060 Number three, conversion tool, understand
00:11:45.240 where you're sending those leads after to monetize.
00:11:47.620 Four, measure your SVI, your stage value index.
00:11:51.020 Number five, look for leverage.
00:11:52.920 In my case, it's the Escape Velocity Show.
00:11:54.420 For you, it could be business, customer meetings,
00:11:56.180 or other speakers you want to connect with.
00:11:58.280 As I mentioned at the beginning of this episode,
00:11:59.740 I want to share with you my Precision Scorecard.
00:12:02.380 It's not only a worksheet, but it's
00:12:03.880 a process to set goals, set the targets,
00:12:08.240 monitor the actuals, and check in with your team
00:12:10.940 in all areas of the business on a weekly basis.
00:12:14.040 So it's a great place where you would put your stage value
00:12:17.020 index number if you're doing a lot of speaking
00:12:20.000 so the rest of the team can understand how that has
00:12:22.180 had an impact on the business.
00:12:24.160 You can click the link below to download
00:12:25.980 a copy of that process and strategy
00:12:28.240 and implement it into your business.
00:12:30.040 If you're doing a weekly sync or a weekly meeting every week,
00:12:32.520 you need a scorecard.
00:12:33.680 This is how you put that scorecard together.
00:12:36.800 If you like this video, I would love a like.
00:12:39.560 Please leave a comment.
00:12:40.400 Let me know what aspect of this show or any other shows
00:12:43.460 that you really appreciate.
00:12:44.420 I'm always looking for feedback.
00:12:46.220 And if there's somebody that you care about that you
00:12:48.040 think this could serve, feel free to share this video directly
00:12:50.920 with them.
00:12:51.520 As per usual, I want to challenge you
00:12:53.380 to live a bigger life and a bigger business.
00:12:55.220 And I'll see you next Monday.
00:12:56.600 It is a, what is it?
00:12:59.900 What is it?