As you may know, a huge part of network marketing is prospecting. You may be the most confident and outgoing entrepreneur but in the end, it all depends on what your prospect decides: ultimately, is he or she willing to join your organization? Like with any sales pitch or solicitation, prospects always have objections in the back of their head. And now it’s up to you to figure out how to overcome your prospect’s objections.
Think about the last time you went to the mall… Did someone stop you and ask for a signature for a petition they had? Whether it’s Green Peace, Invisible Children, or the upcoming elections, I’m sure someone has come up to you with a pen and clipboard in hand begging you to hear them out.
And, of course, I’m sure you’ve had plenty of excuses to give them:
- I have no time!
- I’m in a rush!
- I have no money!
- I’ve already signed before!
- I don’t want to!
- I need to think it over!
No matter what, there are tons of responses and objections you may have given or heard someone giving that person who just wanted a few minutes of your time.
So keep this in mind and realize that with prospecting comes a lot of objection. Don’t be so discouraged if it happens to you as well.
Here are some of the top objections I’ve heard in my career and my advice as to how to overcome your prospect’s objections:
- I don’t have time
This is by far one of the most popular excuses of all time. Show your prospect that they most definitely do have time! Network marketing is one of the only professions that creates a long term residual income so explain to your prospect that time used now will only bring more time and freedom later. If your prospect is passionate about success and wants to create that future they dream about it, they will be willing to put the time and energy in.
- I don’t have money
This is another classic objection that I’ve personally heard thousands of times over the years. Explain to your prospect how the initial investment to join MLM is significantly lower than any other business opportunity. The average cost to become a distributor is about $250. Compare that to how much you spend on rent, groceries, gas, etc. It is nothing! That mere $250 holds the capability to change your life forever. Not to mention, an average traditional business in the U.S. costs around $87,500 with no guarantees of any kind.An example I have always used, which works nine times out of ten is:
If I sell you my car today for $1,000 when you know the car is worth $100,000 – would you go find the money?Of course you would! It would be foolish to pass up that offer. If your prospect can find the money to buy that luxury car for $1,000 then they can certainly search in the same place they would look for that money to pay for the initial investment to join the profession. Except the difference between buying the car versus joining your business opportunity is that your opportunity will continue to exponentially reward them for life.
- Pyramid schemes are illegal
I used to hear this quite often back in the 90s, but I guess it’s not as popular since most of the population is now aware of our profession and understands its potential and the magnitude of its success. Show your prospect that your business opportunity is just the opposite of a pyramid scheme! Explain how in no way is this illegal, by any means.The best way to answer this objection is:
I agree with you, pyramid schemes are illegal, however pyramid schemes are set up for people to earn money on new individuals joining the organization without any products or services exchanging hands, which is completely different than this opportunity! In a pyramid scheme you never have the opportunity to make more money than the person who introduced. In MLM, you have the opportunity to make more money than the person that introduced you, and even the person that introduced them.MLM is an amazing opportunity if you work hard, and it rewards more than any other profession. Be prepared to present your compensation plan and show how this is a once in a lifetime opportunity to live the life of their dreams if they do it right!
- I need to think about it
What else do you need to think about? Show them that you are offering them the ability to resolve many of life’s problems, such as financial freedom, time, and education.Make sure to tell them:
Sure, you can think about it for as long as you want, but every day you delay is a day you might miss the next superstar coming into your organization. You can’t wait for success to happen. You have to go get it!
- My friend tried it out and failed
Are you and your friend the same person? Sure, you may have the same interests, goals, or personalities. However, you are a unique individual and your success only depends on you as a person. Just because your friend had negative things to say doesn’t mean you will have the same experience, and just because your friend failed, does not mean you will fail.
- I don’t know that many people
You don’t need a ton of friends or family to be successful in MLM! You just need to be confident in yourself. Anyone can become a part of your team – whether it is your next door neighbor, your dog sitter, the barista at Starbucks, or even your grocery clerk. Make your prospect realize that they do, in fact, have a huge network! It’s really not as much about who you know, it’s about who they know – you never know where you’ll meet that one person who knows someone that could be your next superstar. That’s one of the beauties of this profession.
Here are some other tips you should utilize for every objection:
- Be enthusiastic
If you show you are passionate about the profession and truly believe your business opportunity can change your prospect’s life, don’t hide that from them!
- Don’t get offended by their questions or remarks
Whatever you do, stay positive. If they say something negative, offer them a different perspective and show them why network marketing is such a great and rewarding profession, unlike any other.
Let your prospect get to know you on a personal level. Explain how and why you joined network marketing and what it has done for your life. When you paint a picture of success for your prospect, they will also create a vision for themselves. Let them dream!
- Tell a story
When you tell a real life story that addresses their objection or concern, you show that you, too, had that objection at one point of your life. Show how you moved past that uncertainty and explain why you are so confident that these objections are invalid.
No one likes a conversation hog. Make sure you hear your prospect out and engage in the conversation. If they are opening up to you about their life – whether personal or business related – it shows they feel comfortable and are willing to talk to you. Make sure to smile, nod, and offer gestures to show you are listening.
- Ask questions
People love talking about themselves. Give them the opportunity to! By asking questions about themselves, your prospect will know you have a true desire to get to know them.
Use these tips to overcome your prospect’s objections and keep the conversation going. In no time, you’ll have plenty of prospects joining your team!