A Financial Education Event
 

How I Earned A Six Figure Income As a Spokesperson / Brand Ambassador – part 3

On one of my early spokesperson gigs, my co-host was a wiener. He was one-dimensional, wouldn’t speak his lines and always managed to be the center of attention for every one of the 30 media interviews we did via Satellite on the coast-to-coast Satellite Media Tour (SMT). I had to carry the client messaging for each and every morning news television interview, yet this co-star managed to soak up all the limelight and get the closeups, while I did all the heavy lifting. An SMT was brutal work and involves a high-level skill set that can only be successfully accomplished by the top 5% of Spokesperson / Brand Ambassadors. I was 100% on my messaging, no thanks to this high maintenance, hot dogging, co-host. The client was Oscar Meyer.

We’ve covered quite a few aspects of spokesperson work in parts one and two of this series, from the definitions of the work to the skill set required. Now let’s talk about the process of what happens from start to finish during the brand ambassador experience.

 

Step One:  Initial PR Ping

The first outreach for a potential spokesgig is usually a PR firm, who googles experts in the area they are researching (finance, beauty, mommy bloggers, chefs, etc). Then they will send an email, fill out a contact message on your website or reaches out through social media platforms. This began to happen to me after my first book, Shop, Save and Share, came out in print. There was a query from Quaker Oats, then one from Dial soap, then another from Blue Diamond Almonds. The first time, I wrote back a message that quickly made it clear to the PR representative that I was absolutely clueless and didn’t even know what the outreach was about. I didn’t get the gig. I didn’t even know that I didn’t get the gig because I didn’t even know there was a gig to get.

The second query was turned over to a speaking agency that repped me at the time and they buffooned it because they didn’t know how to handle spokeswork. The third time, I turned it over to my publisher’s marketing rep and then discovered that’s it’s against policy for them to represent this kind of work—it’s a conflict of interest. In some cases, it’s even illegal. Oops!

 

Then there was the 4thtime a brand reached out, and I reached out to a group of Advanced Writers and Speakers Association to see if anyone knew a spokesperson representative. I was connected with a reputable agent and she helped me get that first contract that was with MasterCard. She also garnered 25% of my earnings—but 75% of something was better for me than 100% of nothing. Eventually, I was catching items on the spokes contracts that I didn’t want and the agent didn’t always catch them. Since then, I realized that 20% commission is common for gigs that the agent brings the talent and 15% is common for gigs that the talent brings the agent. My business background allowed me to become a master at reading, negotiating and executing my own contracts. But that took years of experience to achieve. At first, I didn’t know what I didn’t know and I paid dearly for it before I got an agent.

Action Item: Make it easy for PR people to find you, add the term “brand ambassador” and “Spokesperson” to your social platforms, website and in any groups where you are a member. Set up a contact form on your website set up a dedicated website if you don’t already have one for your brand–a social platform isn’t enough.

 

Step 2: The Initial Conference Call

Today, I know that 9 out of 10 initial “Pings” or inquiries from an employee at a PR firm or from a corporation do not progress past the initial inquiry. If the brand influencer or spokes agent that answers
the inquiry knows how to manage the initial inquiry, then it can progress to an interview or conference call with the potential client.

It’s during this fact-finding conference call that you (or your agent) let them know who you are, how well you do verbally and what your skill sets look like. They also want to hear what ideas you might have for the project. Creativity is a must during this phase.

It’s also during this phase that you decide if you can get behind the brand or product. I made it a point of never endorsing a product I didn’t wholeheartedly believe in and that philosophy helped me keep my integrity intact. In addition, as a spokesperson agent, I won’t work with potential clients of mine that would take a deal just for the money–endorsing something that is bad for the general marketplace. Integrity matters.

This step is where your agent or other team member does the selling. They do the bragging on you and your abilities while you just talk about your projects and passions. You might also be required to sign an NDA (non disclosure agreement) and that’s not unusual.

Action Item:  Never endorse a product you don’t believe in and keep a high level of integrity. Make a point of eliminating “uhs” and “ums” and filler words like “so” and “yeah.” The overuse of these words make you come across to the client as unsure or lacking in confidence. An organization like Toastmasters is a great place to go in order to learn to master the kind of extemporaneous talk that will occur during crucial conference calls.

 

Step 3: The Money Talk

If the PR firm and/or the client they are representing is interested in you and is seriously considering hiring you as their Spokesperson / Brand Ambassador then they ask what you charge. If you have an agent, they handle the money talk while you remain the happy talent.  At this point a smart brand ambassador or a smart agent asks for a SOW in writing (scope of work), otherwise there can be a he said/she said in terms of what the work actually is during step 4 or step 5.

There’s an art of negotiating a deal and I absolutely love this part of the process—whether I’m negotiating my own deal or one on behalf of my clients. You give a price based on the fair market rates for someone with your following and skill set. I usually start a bit high at this point. It’s a delicate balance because you want to price yourself at the value you are worth without pricing yourself out of the market. I figure if they are interested, then they will be willing to come back during step four and negotiate for a deal within their budget. At this point, instead of a one in ten chance (as in step one) you have about a 50% chance that the deal could go to a contract.

Action Point:  The money talk is a very important part of the process, establish a rate card ahead of time and know what the charges are for different deliverables. Make sure your agent (if you have one) or your other team member has also eliminated the filler speech we previously outlined in step 2’s Action Point.

I’m developing a course and we will get into greater detail when it comes to the money part of the contract. If you are interested in being a part of the initial core team for the “How to Earn a Six Figure Income as  Spokesperson,” then send us an email at assistant@elliekay.com or fill out the contact form.

The PR firm will present anywhere from 3 to 5 different spokespersons to a client as either part of an existing contract (that they’ve already negotiated and secured) or a pitch contract (where they are trying to get business with the client.) Obviously, a secured contract will be more likely to end in a contract for the spokesperson than a pitch contract.

 

Step 4: The Negotiation

After the PR folks have taken your name to pitch to the client, the client may ask for a meeting with you (this only happens about 20% of the time) so that they can decide for themselves. Or, they’ve trusted the PR person, reviewed your media kit and believe you are a good fit.

This step is the reason I decided to become a spokesperson agent because this is the step where brands take advantage of the spokesperson. PR firms are in the business of getting the best value for their client and you can’t blame them for that. But it also means that they try to get the brand ambassador to do more work than they proposed in step 3.  Don’t be afraid of a negotiation, but do be prepared so that you can make the most of the deal that is being discussed.

Action Step:  Read up on how to become a better negotiator, so that you can handle this step if you are representing your own contracts.

 

Step 5:  The Contract

Once you’ve navigated the negotiation, then it’s time to go to contract. Hopefully, you’ll be chosen as the brand ambassador to represent the product, company or goods and services. Be sure you have a professional review the contract and understand that someone who may manage a brand ambassador may not be familiar with the pitfalls of a spokesperson / brand ambassador contract. You don’t know what you don’t know. But making sure that there are NO additional deliverables or restrictions that weren’t disclosed in the negotiation is a basic part of handling the contract. Recently, I was sent a contract on one of my existing clients and it was for a company that we had already signed a half dozen contracts with in the past. To my surprise, there were actually $180,000 in additional deliverables or exclusivity stipulations that they tried to sneak by us in the contract!

Action Item:  Hire a professional to read your contract or partner with a spokesperson agency that can guide you through the sticky wickets of the contract.

 

Coming up next week:

 

We will discuss and define specific deliverables as well as legal disclosures that the FTC requires for all brand ambassadors in order to be in compliance.

 

 

New Year Savings Habits

You are what you think! That’s what positive thinking gurus tell us and I believe it to a certain extent. But thinking it without doing something about it isn’t going to help you develop better money habits. In this New Year, I’m challenging you to implement some really easy money savings habits. Let me know which of these that: 1) you already do and 2) you are going to start doing or 3) you ain’t ever gonna do, no way, no how!

PRICE MATCHING—ASK YOUR STORE

If you have a store that will match competitors’ ads, then this helps save time and money. Most Walmart stores offer this benefit to their consumers. This price-matching tip is also good outside of the grocery area because there are dozens of other stores that will honor competitors’ ads, including Best Buy, Office Depot, Staples, the military exchanges, and more. Since these policies vary from year to year (and even month to month), it’s important to inquire at the customer service desk before you try to use the price-matching benefit.

To implement this tip, just take in all the local sale ads and have the store match the sale price from the circulars, or pull them up on your phone. There may be some restrictions, so be sure you ask for the details at the customer service desk. For example, Walmart will not honor a “buy one/get one free,” nor will they honor “percentage off” sales. But they will substitute their brand for other store brands that are on sale and it may even end up being a better-quality deal!

 

SEARCH HIGH AND LOW FOR BARGAINS

In today’s grocery stores, many bargains are located on the top and bottom shelves. The expensive items are at eye level. To those in marketing, the reason is obvious—you’ll buy something that’s in front of your nose! Also, avoid the floral, deli, and bakery departments. They’re usually overpriced and can bust your budget.

 

USE A SHOPPING LIST—DON’T LEAVE HOME WITHOUT IT!

When shopping, you should never leave home without an organized list. It minimizes time spent in the store and helps you stay on target, thus avoiding impulse buying. It can also serve as a reminder of sale prices and coupons you may have. When I first started saving money with coupons and sales, there were only flyers and paper coupons. Flipp is an app that combines the best of old and new by providing a digital library of all the latest flyers and help you build a shopping list within the app. Just tap on a digitized coupon or product and the app will circle it and add it to your digital grocery list.

 

SAVE ON TRAVEL

My crafty little informant over at Hopper just gave me the 2018 Travel Cheat Sheet telling you when the best time to buy is for those 2018 trips. It gives fantastic insider tips, for example:

  • When to buy airfare for major US holidays
    • President’s Day: Book by Monday, January 29
    • Easter: Book by Sunday, February 18
    • Fourth of July: Book by Wednesday, June 13
  • Top 10 domestic and international destinations to watch in January for the best deals:
    • Los Angeles: Round-trip flight prices currently average $328, but are expected to drop 43% this month.
    • Las Vegas: Round-trip flight prices currently average $178, but are expected to drop 28% this month.
    • Cartagena, Colombia: Round-trip flight prices currently average $354, but are expected to drop 35% this month.
    • Lisbon, Portugal: Round-trip flight prices currently average $622, but are expectedto drop 32% this month.

If you’re wanting to read more about saving money on travel, check out Wanderlust For Less, an upbeat look at ways to save money on travel AND still pay the light bill.

COUPON APPS AND WEBSITES

My son, Jonathan, gave me his back-

 

to-school-for-the-spring-semester wish list. He had a gorgeous item that was a pair of shoes at the Bostonian website. The first thing I did was look up the online site in RetailMeNot. Instantly, I got a coupon for 25% off the exact shoes Jonathan wanted. That’s something that made both of us happy.

Coupon Sherpa and CouponMom are also user friendly apps to help you find great values at your local store. Download these apps and use them regularly to save 30 percent or more. Both use geographic location or zip codes to target deals at stores near you. You may also want to try the Redlaser app, it can be used to scan the bar code of a product and find out if the item is cheaper elsewhere.

Don’t forget to listen to my quirky, sometimes geeky co-host, Bethany Bayless and myself on our new podcast called The Money Millhouse. We’ve give lots of tips after drinking lots of coffee and have some of the best financial guests in America on our show! 

Remember to let you know what you are already doing, what you’re gonna do and what you ain’t gonna ever do to save money in 2018!

Holiday Travel Hacks by Bethany Bayless

Ah, the Holidays—it’s the most wonderful time of the year! Also the most expensive—especially when you don’t live near your loved ones. Holiday travel can be awesome or awful. Here are a few tips that can help when it comes to booking your travel.

  1. Avoid Peak Days: Don’t travel on peak days. Guess what—Everyone is flying those days! They are by far the most expensive days to fly. For Christmas, those days are December 22, 23, and 24. For New Year, it is December 29 and January 2. Look at your schedule to see if you are able to tweak your travel days just a little to get the best price on flights.
  2. Travel Early or Late in the Day: Another thing to keep in mind is that the cheapest flights are generally the first and last flights of the day. Don’t be afraid to adjust your sleeping schedule just a bit by flying super early or super late. These are going to be the cheaper flights.
  3. Do your research: Use apps like Hopper to find the cheapest days to fly. They will even keep you alerted to when it comes time to buy at the cheapest rate. With Holiday travel, buying sooner rather than later is always advised.
  4. Shop Around: When it comes to flying, use those dates you got from Hopper and plug them into a site like skyscanner.com, or go directly to airlines sites. Southwest only posts on their website—so make sure you check Southwest for the prices they have on flights. Keep in mind, also, that though Southwest is not always the cheapest fare, your bags will always fly for free. That can make all the difference!
  5. Send Presents Ahead: If you can get away with it, don’t check a bag. We know the holidays mean lots of presents. Think ahead—use Amazon Prime to ship directly to the people receiving them or the house you will be staying in, or send them ahead of time. It will save you headaches when it comes to sweating your connections or losing your bags. It will save you time, and sometimes it can even save you money!

What are some of your favorite tips and ways to save money when it comes to Holiday Travel?

Bethany Bayless is a popular speaker, blogger and emcee. She worked in Europe for a non-profit organization before becoming the Director of Communications for the non-profit, Heroes at Home. Her work can be found at WanderlustforLess

Holiday Travel Planning Guide – Hint: Buy Early

BGadmin

 

One of my favorite things to do when I have my adult children home is to go to church. We always went as a family when they were growing up and having them join in when they are home brings back great memories. The last time they came home, I stood in our row with Jonathan and Joshua sitting next to me and fought back tears of gratitude. At the end of the service, the music swelled loudly, our cue to leave the sanctuary and make room for the next service in our large church.

Bob and I got separated from the boys in the exiting crowd and when I looked back to see where they were, I was stunned to see the two boys wrestling in the aisles. Jonathan had Joshua in a headlock and Joshua was trying to punch him in the kidneys to break the lock.

Oy vey. Some things never change. “We were just having some fun!” they declared as I grabbed them by the ears and they straightened up.

Family times are the best times.

They Kay family loves to get together for the holidays, but travel can be expensive. Knowing when to buy those airline tickets can mean the difference between paying cash for your holiday travel or going into further credit card debt.

Thanksgiving and Christmas are still weeks away, but October is the month you should look to book flights for both holidays.

In fact, travel app Hopper recently released its Holiday Travel Index which includes data on when to fly and buy for both holidays. Here’s a few findings I found from the study:

  • Although Thanksgiving travel is expensive (even more so this year than last — domestic flight prices are currently averaging about $325 round-trip compared to $288 last year), prices won’t vary much during the month of October. You can put it off for a bit, but make sure you book your Thanksgiving flights before Halloween.
  • If you wait to book your flight until after Halloween, it will cost you about $1 per day, every day that you wait. Prices will then begin spiking closer to $10 per day during the final two weeks leading up to Thanksgiving.
  • Unlike Thanksgiving prices, holiday flight prices tend to rise more steadily as Christmas approaches, and then spike heavily in the last two weeks.
  • The best time to book Christmas flights this year is the first weeks of October. If you have to wait to buy, make sure you watch prices closely, as they will fluctuate and then start spiking moderately 15-25 days prior to departure. They will spike dramatically (about $7 per day) in the final two weeksleading up to Christmas.
  • If your plans are flexible, you can save the most money by leaving on Tuesday, December 19 and returning Thursday, January 4

Keep in mind that it’s important to budget for holiday travel in conjunction with all the other expenses accrued during the holidays.

In our family, we value experiences over things. This means we will spend money to get kids home and spend less on their gifts once they get here. After all, it would be boring if we didn’t have Jonathan and Joshua fighting in the church aisles during the holidays.