Why Gifting and Discounting Won't Fix Your Lead Generation Issues?
I recently came across a SaaS business offering a $200 tote bag or an Amazon gift card on LinkedIn just to get prospects on a sales call. This is problematic on multiple levels and indicates a deeper issue with their business model. Here’s why:
Desperate Marketing Tactics Are Ineffective in B2B
Offering a $200 gift card in exchange for a meeting is not genuine marketing. It's a sign that your business might be struggling to attract leads organically. True lead generation (leadgen) involves finding individuals who have a problem your business can solve or who have shown a genuine interest in your solution.
Misleading Qualification of Leads
A person interested in a tote bag or a gift card does not necessarily qualify as a Marketing Qualified Lead (MQL). If you have ample venture capital to burn and meaningless MQL targets to meet, then by all means, give away tote bags all day. But understand that this approach is not sustainable or effective.
Reflects Deeper Issues Within Your Business
Resorting to such tactics may indicate that something fundamental is broken in your business. This practice is akin to timeshare developers in Las Vegas who lure tourists onto buses with free tickets to Cirque du Soleil in exchange for listening to pitches about fractional vacation homes. Most people don’t buy, and these developers have no reputation to protect. However, B2B companies do. In B2B, trust and credibility play a significant role in purchase decisions.
Focus on Authentic, Value-Based Marketing
Prospects should be attracted to your product or service because it genuinely solves their problems, not because of a freebie. Instead of quick fixes, focus on these core areas:
1. Understand Your Audience: Dive deep into your target market’s pain points and needs. Ensure your product solves a real and differentiated problem in a way that others do not.
2. Offer Genuine Value: Provide insights and case studies that demonstrate your expertise and the real benefits of your offering. Offer value to your audience in every interaction.
3. Build Relationships: Relationships are built on trust and thought leadership content, not on gimmicks and short-term incentives. Authentic, value-based marketing builds lasting business relationships.
It's time to wake up and fix what’s fundamentally broken instead of resorting to desperate measures. Commit to authentic, value-based marketing that builds lasting business relationships. Your tote bags will be forgotten, but your transparency and authenticity will not.
