HOW TO PRICE A CORPORATE TRAINING PROGRAM AS A KEYNOTE SPEAKER

Knowing how to price a corporate training program as a keynote speaker, trainer and workshop facilitator requires a delicate balance between covering costs, ensuring profitability, and providing value to clients. A well-structured fee strategy can make the difference in understanding how to price a corporate training program to become a thriving business and one that struggles to remain competitive. We explain how to structure fees, costs and retainers effectively.

1. Understand Your Costs
Begin by calculating all costs associated with delivering the training:
– Development costs (time spent creating materials, curriculum design)
– Delivery costs (trainer fees, travel expenses, venue rental if applicable)
– Materials costs (handouts, workbooks, online resources)
– Overhead costs (administrative support, marketing, technology)

2. Research the Market
Conduct thorough market research to understand:
– Competitor pricing for similar programs
– Industry standards and expectations
– The perceived value of your specific offering

3. Consider Your Unique Value Proposition
As you think about how to price a corporate training program, identify what sets your classes and courses apart:
– Specialized expertise or methodology
– Customization options
– Post-training support or resources
– Track record of results

4. Determine Your Pricing Model
Choose a pricing structure that fits your program and market:
– Per-person pricing
– Flat fee for the entire program
– Tiered pricing based on group size or program features
– Subscription-based model for ongoing training

5. Factor in Client Size and Industry
Consider adjusting your pricing based on:
– The size of the client company
– The industry sector (some industries may have higher budgets for training)
– Potential for long-term relationships or repeat business

6. Account for Customization
If you offer program customization, factor in:
– Additional development time
– Specialized content creation
– Extra meetings or needs assessment sessions

7. Consider Volume Discounts
Offer incentives for larger groups or multiple sessions:
– Sliding scale based on participant numbers
– Discounts for booking multiple training dates

8. Include Additional Services
When consider how to price a corporate training program, plan for supplementary offerings:
– Pre- and post-training assessments
– One-on-one coaching sessions
– Follow-up webinars or refresher courses

9. Be Flexible with Pricing Options
Provide different pricing tiers or packages:
– Basic, standard, and premium offerings
– A la carte options for add-on services

10. Calculate Your Profit Margin
Ensure your pricing allows for a healthy profit margin:
– Industry standards typically range from 10-30%, depending on various factors
– Consider your business goals and growth plans when setting margins

11. Test and Adjust
Be prepared to refine your pricing strategy:
– Gather feedback from clients on perceived value
– Monitor your conversion rates at different price points
– Stay attuned to market changes and adjust accordingly

Remember, pricing is not just about numbers—it’s about communicating value. Your price should reflect the quality and impact of your training program. Be confident in your offering, and don’t undervalue your expertise. At the same time, ensure that your pricing remains competitive and attractive to your target market.

Carefully considering these factors and regularly reviewing your pricing strategy, you can develop a pricing model that is both profitable for your business and appealing to potential clients.