Overcoming Objections From Network Marketing Prospects
You've just joined a network marketing company with a pay plan and a product range that you believe in 100%.
You now have the job of convincing other people that the products and/or business opportunity is as good as you say it is.
You make your presentation, build your rapport, and wait for the prospect to sign on the dotted line...
and, instead, they voice an objection.
Here are some of the most common objections that you will face during your network marketing career, and how to overcome them.
I Can't Afford It.
If your prospect listens to your presentation and then claims that they cannot afford to either purchase your company's products or invest in the business opportunity, you have not done your job completely.
By the time you expect the prospect to become involved in your company, you should have demonstrated why they can't afford NOT to say yes! If your prospect is telling you they can't afford it, you have to dig a little deeper to find the exact objection.
If they want to buy/invest, but do not have the cash available, you have to offer them a way around this problem.
Be creative! Find out what is their budget and work within it.
Offer delayed payment or payment by instalments.
Often, "I can't afford it" actually means that the prospect doesn't see the value in your products or the returns possible in your business.
If this is the case, your presentation needs improving! It is your job to convince the prospect that they need your products and that your opportunity is not to be missed.
I Don't Have Time.
Used as an objection to get involved in the business opportunity.
If you're new to network marketing, here's a tip.
The people who you pick out as being ideal for your opportunity because they never have enough cash, will tell you they don't have time.
Often, it's the first excuse that comes into their head and, usually, it's better to let those people talk themselves out of success because they would take up so much of your time and energy if they did get involved! However, sometimes, people are interested in the opportunity but really can't see how they can fit the 5 or 10 hours into their week.
At this stage, you have to make sure that lack of time is their real objection and not just an excuse.
If so, you now have the job of showing them how little time a week they can put in when they start.
Go through their day planner with them if you must - if this person is serious about starting their own business they won't mind missing out on watching Simpsons reruns or cutting out some social time.
Be firm with people who use this objection - you need a commitment from them as you will be committing your time to helping them.
Call me in 6 months.
Ouch! The dreaded call me in X months/let me think about it.
The key to overcoming this objection is to firstly find out why they will better be able to make a decision in X months, or what exactly they need to think about.
This isn't always an excuse; sometimes a prospect may be very interested but may seriously lack the money to get involved and is too embarrassed to say that.
Gently uncover the real reason behind this objection and then destroy it.
If the prospect needs to think it over, find out exactly what they want to think about and then say something like, "I understand that, it's a big decision.
You know, I'd hate you to go away now and think of questions you have without me being there to answer them.
So how about you think it through now while I can give you any extra information you need?" Sadly, about 50% of people who use this objection are not interested and do not want to say that to you.
Are you brave enough to ask them, "Are you just saying NO politely?" 4.
I Already Buy From Your Competitor.
This is actually a good objection because the prospect is already sold on the benefits of your products! Now you just have to convince him that you are the best supplier.
And many people in network marketing companies are reluctant to do this.
You have to decide whether you are comfortable with encouraging people to become your customers and leave their present supplier.
My personal opinion on this topic is that to do so you have to genuinely believe that you can offer a better service than the present supplier.
Faster delivery, better after-care, more in-depth product knowledge.
If you can't do any of that, don't steal the customer.
You may make a few dollars but you will earn a bad reputation within your company.
(I do not recommend you try to convince a business builder in someone else's team to switch over to your team, unless they are extremely dissatisfied with the support they are receiving.
I Need To Speak To (someone else) Before Deciding.
Sorry guys, but if your prospect says this, you should be kicking yourself.
You haven't qualified the prospect if you're not speaking to the sole decision-maker! Whether you are approaching a company and the prospect needs authorisation from someone higher than himself, or if you're speaking to a man or woman who needs to discuss it with their partner before deciding, you have just wasted your time on this presentation.
Don't panic though.
All is not lost.
You can either suggest that the prospect calls the decision-maker right away to get their approval (with you there to answer any questions they may have), or you get out your day planner and arrange a time to do the presentation again for all of the deciding parties.
With your next meeting arranged, you now need to get the prospect on your side.
By the time the prospect leaves the presentation, you need to have made sure they will be singing your praises to the other decision-makers.
Ideally, by the time the other decision-makers arrive to the next meeting, they will already trust you and have an interest in your product/business opportunity simply because you built such a rapport with the initial prospect.
I Don't Need Your Product.
Resist the urge to scream "YES YOU DO" and then convince them that yes, they do.
This is often the most genuine objection - the prospect really cannot see why they need your product or business opportunity.
They are not saying no, they just need more convincing.
You should have past customer testimonials, statistics, competitor comparison charts and a host of other tools ready to overcome this objection.
If your prospect tells you they do not need your business opportunity, you have to find an element of their life that they are unhappy with.
Do they genuinely enjoy working 9-5 for someone else? Do they have the money they need to live the lifestyle they want? Would they not like to spend more time with their family? What are their plans for the future (retirement)? Be careful here not to focus exclusively on "it's a great opportunity you could get mega rich!!!" - not everyone is driven by money alone.
For example, one woman in my team is driven by her desire to purchase a second home in France and split her time between the two countries.
Another person's biggest motivation was to escape the 2-hour daily commute and to be able to work from home.
You have to find out what motivates your prospect and show how your opportunity can provide that for them.