You, as a speaker, may experience a negative economy; don’t think you can’t do something about it.

Here are three negative ways the economy affects public speaking—especially during downturns or uncertainty—and what speakers can do about it.

Reduced Budgets for Events and Training

During economic downturns, organizations often reduce discretionary spending, including conference budgets, speaker fees, and training programs. This results in fewer paid speaking opportunities, particularly for mid-tier or niche speakers.

Develop online workshops, asynchronous courses, or subscription-based content (e.g., Patreon, Thinkific, Kajabi) to create additional income streams.

Delivering your content in various formats, including in-person, virtual, and asynchronous, gives you more avenues to reach your audience in their preferred way.

It is essential to use the unique features of each format. For instance:

• Delivering to your audience in person allows you to correct audience misconceptions.

• Delivering to your audience virtually synchronously allows you to take advantage of content from the Internet during your presentation

• Delivering to your audience through asynchronous content allows your audience to select when and where they consume your content

Focus outreach on industries that continue investing during downturns. In every negative economy, there are still industries that perform well, such as healthcare, government, or cybersecurity.

The people you may already know may know people in these industries. However, if you don’t ask them about these industries, they may not volunteer the information.

This may require you to look more closely for people in your network who work in these and other industries that perform well in a negative economy. You may also need to join networks related to these industries.

Provide scalable packages (e.g., keynote only vs. keynote + breakout + consulting) to accommodate tighter budgets.

People often prefer to choose from a range of options. Have at least three optional packages: the “gold” package, which is the most service you can provide, the “silver” package, which is still a good package without the “bells and whistles” of the “gold” plan, and the “bronze “package, which is the least you offer.

It is also best to offer your client more than just a keynote, seminar, or workshop. You are at the venue anyway. If you are the keynote speaker, consider offering to the event planner to do a seminar or workshop. Try to fill in the “holes” in the program for the event planner. You will be remembered.

As a public speaker in a challenging economy, you will need to navigate reduced budgets for events and training.

Something you will also have to deal with in a negative economy is the cancellation of events or a drop in attendance.

Event Cancellations or Attendance Drops

Economic strain can lead to canceled or downsized events, virtual-only formats, or reduced attendance, limiting networking and visibility opportunities for speakers (PCMA, 2022).

Master virtual engagement tools (e.g., Miro, Slido, OBS) to remain relevant and engaging in online formats.

Miro is a collaborative online whiteboard platform designed for team brainstorming, planning, and visualization. While it’s not specifically a public speaking tool, Miro is increasingly used by public speakers, facilitators, and trainers—especially in virtual or hybrid settings—for audience engagement.

Slido is an audience engagement platform designed to enhance interaction during live, virtual, or hybrid events. It enables public speakers, trainers, and facilitators to collect real-time feedback, questions, polls, and quizzes from the audience, thereby boosting engagement, especially in settings where interaction is typically limited.

OBS (Open Broadcaster Software) is not a direct audience engagement tool like Slido or Miro. Instead, it’s a powerful open-source video production tool that speakers and presenters use to enhance the quality and interactivity of their live or recorded presentations, especially in virtual and hybrid environments.

Host your webinars, summits, or live streams to control exposure and lead generation.

When you host your events, you have more control over the number and types of people who will attend them. You will have the emails for the attendees so you can contact them in the future about your other programs.

When you host your events, there is less complication because you make all the decisions.

Convert canceled content into blog posts, podcasts, or YouTube clips to build your audience.

Your audience is not only the people to whom you present in person or virtually. It is also the people who read the content that you posted. That is why it is essential to post weekly about your topic area.

Repurpose your content in blogs, newsletters, and social media posts. After a while, people will begin to trust your judgment in your area of expertise. This is the first step to them attending one of your seminars, workshops, online events, or buying one of your online training programs.

As a public speaker in a challenging economy, you will need to contend with reduced budgets for events and training and event cancellations or attendance declines.

A third situation you will have to deal with is increased competition for fewer opportunities.

Increased Competition for Fewer Opportunities

As more speakers vie for fewer speaking slots, fees are driven down, and pressure to stand out increases. Even seasoned professionals may need to compete with lower-cost or local speakers.

Highlight ROI, outcomes, and transformation. Use testimonials and case studies.

Differentiation is the “name of the game” in a negative economy. But being different in a positive way is not enough.

You must be able to articulate your unique value proposition to your clients and justify why they should choose you over the competition.

This isn’t like the movie Field of Dreams: build it, and they will come. Build it, but you need to tell them about your services before they will come.

Become the go-to expert for a specific audience or industry facing pressing challenges.

Beginning speakers often want to speak on a wide range of topics so they don’t miss a potential client. This is a recipe for disaster.

The reality of the market is that people are seeking experts. The more you specialize in your topic, the more you will be viewed as an expert. The more you are viewed as an expert, the more in demand you will become.

Publish articles, LinkedIn content, or books to boost authority and demand.

Social media has made it easier to publish content with the click of a mouse. People begin to trust you more with every article posted.

You can build trust with the clients you meet, but how do you build trust with potential clients you’ve never met? You publish your content to demonstrate your expertise in your field.

Some people doubt their ability to write meaningful content. From experience, everyone has something to say in their area of expertise. Instead of wanting to make your prose perfect as you write, just write.

There will be time to edit later. Writing and editing are two different tasks. I have a book entitled “Write is a Verb.” Writing is a task you have to do, like filling your car with gas, mowing the lawn, or removing leaves from your gutters.

As a public speaker in a challenging economy, you will need to contend with reduced budgets for events and training, event cancellations or attendance declines, and competition for fewer opportunities.

Have a solution mentality, not a problem mentality.

Call to Action

• Design your speaking packages in scalable options (e.g., keynote only vs. keynote + breakout + consulting) to fit tighter budgets.

• Host webinars, summits, or live streams to control exposure and lead generation.

• Articulate your unique value proposition to your clients and justify why they should choose you over the competition.

References

• Forbes Coaches Council. (2023). How Economic Uncertainty Affects Leadership Coaching & Speaking Engagements. Forbes.com

• Professional Convention Management Association (PCMA). (2022). The Impact of Economic Pressures on the Events Industry. PCMA.org

• National Speakers Association (NSA). (2023). Economic Trends Impacting the Speaking Profession. NSAspeaker.org

Being a confident, engaging, and effective technical speaker is a vital personal and professional asset. With more than 40 years of engineering experience and more than 30 years of award-winning public speaking experience, I can help you reduce your presentation preparatory time by 50%, overcome your fear of public speaking and be completely at ease, deliver your presentations effectively, develop your personal presence with your audience; and apply an innovative way to handle audience questions deftly.

Working closely with you, I provide a customized protocol employing the critical skills and tools you need to create, practice, and deliver excellent technical speeches and presentations. Let’s connect and explore how I can help you become the exceptional speaker you were meant to be. Please reach out to me at frank@speakleadandsucceed.com or 703-509-4424 for a complimentary consultation. Schedule a meeting with me at calendly.com/frankdibartolomeospeaks