Dan Martell - September 16, 2019


How To Measure The Value of a Speaking Opportunity

Hosted by
Dan Martell
Mentioned
Pete Vargas Kyle
Raise Your Prices Effectively with Patrick @ ProfitWell.com - Escape Velocity Show #10 How to Find Investors When Raising Money

Episode Stats


Length

13 minutes

Words per minute

206.71

Word count

2,688

Sentence count

160


Summary

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

In this episode, Dan Martel shares a strategy for measuring the value of a speaking opportunity and how to make sure you re getting the most out of your speaking opportunities. You'll learn the math, the strategy, and the way to think about it so that you can get the most use of your time, or the most value from your time speaking.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
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?