Why Lead Generation Is A Waste Of time | SWW135
If you are a high ticket service provider, coach, or consultant, lead generation is a waste of time.
I’m sick of seeing business owners struggle to fill their calendars because they’re following outdated tactics.
That’s why I’m going to go on a bit of a rant this episode.
Why traditional lead generation tactics are the last thing in our list of marketing priorities [01:30]
The only thing lead magnets are good for [02:25]
What I recommend instead of lead generation [03:21]
The false belief most business owners have about buyers [04:20]
The biggest mistake I see people make when launching their Power Offer (it’s like shooting yourself in both feet) [05:20]
… And much more!
If people are not buying your offer, do not create lead magnets to lead people into an offer that won’t convert. It’s just bad business and it just doesn’t make any sense.
Hey it’s Joel Erway and welcome to another very special episode of Sold With Webinars. I am excited about this episode today. It’s going to be a big bold statement. It’s going to be a big bold claim and might be a little bit click baity, but I’m going to say it anyway. If you’re a coach or you’re a consultant, and you’re a service provider, 98% of you do not need to generate leads.
Lead generation is a complete and utter waste of time for you. There. I said it. Did I catch your attention? I hope I did because I’m sick and tired of seeing all of these coaches and consultants and people with high ticket service offers, struggling to fill their calendar when they are following outdated tactics.
A couple of weeks ago, I finished up on a three-day workshop, the seven figure courses workshop, where I talked about the journey of how we have helped so many consultants and coaches and service providers scale their business by filling up their calendar with sales calls and people ready to buy their high ticket services and high ticket offers.
The thing that you need to know is that what we do from a principle standpoint is we do not do lead generation. My whole methodology focuses on pushing lead generation down your pipeline. Okay. It’s the exact opposite thing that everybody in the marketplace is teaching. Everyone out there is saying, you need to generate leads.
You need to launch a lead magnet. You need to do webinars. You need to have multi-step funnels or maybe you need to do tripwires or low ticket offers. I know because I’ve practiced them, I’ve done them. I’ve tested them. I’ve implemented them. I could go on and on about why low ticket offers and low ticket trip wires don’t work and why they’re a waste of time.
And I can go on and on about why lead magnets and freebies and PDFs are a waste of time. If you are under let’s say 30 or $50,000 per month in revenue, and you’re yet to scale with paid traffic, the last thing that you need is a lead magnet, because the only thing that lead magnets do is they collect freebie seekers.
They do not collect people who are interested in buying right now. They only attract people who want free stuff. Now, am I saying that they won’t buy later on? No, I’m not saying that I’m not trying to write rewrite the rule books of marketing. Okay. They might buy later on, but you are going to be spending so much time, effort, resources, and money, trying to convert them when by their very nature they are not even in a buying decision.
They’re not in a buying state of mind. So when we are below 30 or $50,000 per month or launching a new offer, the only thing that I care about is getting people on my calendar, getting people on the phone and asking them. Do you want this or not?
And that’s all about offer generation, right? So we need, instead of lead generation funnels and lead funnels, what we need are offer funnels. And so I’ve spent the past three days, a few weeks ago, I spent three days teaching this concept and getting people to understand that lead generation at this stage in business, when you’re below 30 or $50,000 per month is a complete waste of time.
Now, as you start to scale and you need to grow your audience, absolutely. Then you can start to think about other forms of lead generation to build that pipeline that allows you to put time in to warm those people up, and then you can make them an offer down the road, but you need an offer that converts to cold traffic.
Right? That’s what we do with power offers. That’s what we do with mini webinars, the only thing that we are doing is we’re asking people. Do you want this or not? I had this promise. I had this offer. Do you believe in this promise, do you believe me? And do you believe in this offer? Let’s hop on the phone and decide if you’re a good fit. Because there is a segment of your market that is in a buying mode right now.
And the false belief is that people think that they will not buy from me because they don’t know me. They will not buy from me because they don’t trust me. And that’s completely false. If somebody is in a buying mode right now, they are doing everything in their power to find the best solution.
Sure they might be on somebody else’s list and they might be considering their offer too, but if you make a good enough promise at the right time, they’re going to consider your offer. I mean, we have just testimonials and case studies and story after story and student after student of people who have been practicing their power offers, getting it out in the marketplace and going from zero to $35,000 in less than five weeks or six weeks.
That’s what Susan just did inside of her high ticket courses mentorship program. So I want you to understand that if you are under that threshold of $30,000 per month, you do not need to be doing lead gen. And the other biggest mistake that I see that people make is when they start doing power offers and they’re not hitting, then they’re like, Oh, well I need to go do lead gen again.
I need to try a free lead magnet. It’s like, no, if you’re launching a power offer and nobody is interested in it, the last thing that you should do is put something in front of that and then make that offer later on down the road, it’s like shooting yourself in both feet. In both feet.
You have the best data that you could possibly have, which is people don’t want your offer. And this is what happens when people get married to their offer. They love their offers so much they really want it to be successful, but nobody’s responding to it. So what do they do? Oh, well, I’m just going to create a lead magnet and hopefully lead people into my offer.
And it’s just like forehead, a hand to the forehead. And I love them all to death. I love everybody who is part of my world, part of my tribe. But I have to just scream this from the mountaintops. If people are not buying your offer, do not create lead magnets to lead people into an offer that won’t convert.
It’s just bad business. And it just doesn’t make any sense. So a little bit of a rant here today, but this is why I’m telling you for the vast majority of us lead generation is dead. And I don’t want to say it’s dead. It is not necessary. It’s a waste of time. A waste of time is a better way to say that. It’s a waste of time and a waste of money and a waste of resources for us who are below that threshold.
Once you get past that threshold, then there are plenty of ways for you to implement lead gen into your business when you have the resources, the financial resources and the capital to reinvest in those assets. I hope you enjoyed this episode. If you did shoot me a line at firstname.lastname@example.org, I would love to hear from you.
And until next time, I’ll see you on the next episode. Take care.