In the sales world, the temptation to buy meetings—spending money to guarantee that someone will attend your demo—can seem like a quick fix to meet quotas. But here's the hard truth: paying for someone's time doesn't mean you're paying for their interest. Now let's talk about why shelling out cash or gifts for someone to snooze through your demo is a strategy stuffed with more pitfalls than a clown car at a circus, and what you should do instead.
Money for a Meeting: It sounds straightforward, right? You pay, they show up. However, buying meetings is like this giving someone a free gym membership for a month. They might go once or twice to justify the deal, but without genuine interest, they're not going to work out with any real enthusiasm or regularity.
When you pay someone to attend your demo, they might feel obligated to appear interested. This can result in them stringing you along, only to ghost you when it's time to introduce you to other decision-makers in their company.
When you spend money on a sales meeting, you're placing a bet that the mere act of getting someone in the room will lead to a sale. But let's face the music: attendance doesn’t equal attention. Participants paid to attend are less likely to be genuinely interested in your product. Sure, you might see them nodding along, in the slight chance they even have their camera on, but without real engagement, these meetings often lead to zero conversions.
Investing in bought meetings can be a significant drain on resources with little to show for it. The cost of these meetings isn't just the money spent on the attendees; it’s also the opportunity cost of not engaging with genuinely interested prospects. Buying someone's time can even lead to a reputation for being the company that has to pay people to listen.
Real conversation (probably)...
"Ooo ooO! Acme Company is giving away grills to sit in on a demo!"
"But we have no use for their product?"
"Yea...but it's a really nice grill. I just booked for tomorrow. You should too."
"It is a nice grill...just booked one for myself and my neighbor."
-End Scene-
Instead of paying for someone to attend a demo, why not shift your strategy to incentivizing genuine responses? When you pay for a response, you’re paying for engagement, not just presence. This model filters out disinterest and targets those who show a spark of curiosity about your product. It transforms your approach from pushing a message to engaging in a conversation.
Paying for responses rather than presence allows you to gather valuable insights about your product and market fit. Honest feedback from engaged participants is gold in the marketing world. It helps you refine your approach, tailor your product to meet actual needs, and build relationships based on genuine interest.
The practice of buying meetings—spending money to ensure attendance at a demo—might seem like a shortcut to sales success, but it’s a flawed strategy that often leads to wasted resources and disinterested attendees. Instead, focus on cultivating real interest and engagement through paying for responses. This not only ensures that your money is well spent but also builds a foundation for meaningful relationships with potential clients.
Remember, in sales as in life, genuine connections are the most rewarding and sustainable. Stop spending money on getting people in the room, and start investing in getting them involved. This shift will lead to more meaningful engagements, better feedback, and ultimately, a higher conversion rate.
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