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Plus de Vassilis (BIll) Panopoulos M.B.A., M.H.R.M., M.M.M.(20)


How to Handle MLM Objections

  1. How to Handle MLM Objections “ The difference that sets professional networkers apart from amateur networkers is that they look forward to their prospects objections and know exactly what to say with each one. ” By Bill Panopoulos
  2. Don’t let objections scare you. See them as a request for help to see things in a new light. Successful sales have twice as many objections as unsuccessful ones! A formula that fits ALL objections is to listen completely, validate the person, ask questions, relate (feel, felt, found), tell a story about that, and “If I could show you how to (solve your objection) would you like to hear a little bit about it?”
  3. Rules To Overcome Objection in Network Marketing: 1. HAVE FUN! 2. NO emotional attachment to them joining 3. Convince yourself that you LOVE to close! 4. Show them how to feel (be the leader and role model) 5. Closing starts with the invite 6. Assume they are gong to get started
  4. “I don’t have time.” “If I can show you a way to do this in the course of what you already do, would you like to hear a little bit more?” “Would you be willing to make or trade time for something that can provide you a great income for life? What makes more per hour in the long run than Network Mamrketing?” “How would you like to never have to say that again?” “That’s exactly why I want to show you this business!” “If that changes let me know. Many people do MLM part time around everything else.”
  5. “I don’t have the money.” “If I could show you how to get the start money, would you like to hear a little bit about that?” Then show them how to pre-sell their starter kit, save, cut expenses, earn. “I understand. I also didn’t have it… but I saw my life chance and I made the decision.” “Do you really want this? Is money REALLY the issue?” “I can’t afford one right now” (to start a business). So I said, “You can’t afford to make money?” ~ Brian Carruthers
  6. “I’m not a salesman.” “If I could show you how this business is education more than sales, would you like to learn a little bit more?” “Then you’re going to love this!” “We simply educate until the prospect is informed enough to make a decision for themselves.”
  7. “Is this an MLM scam?” “If I could show you how this profession is validated by the most respected businessmen in the world, would you like to know a little bit more?” “Sounds like you have a story. Tell me about it.” “No. Why do you ask that?” “Is this a pyramid scheme you ask? I’m so glad you said that because our business is perfect for people that aren’t into pyramid schemes!”
  8. “I have to think about it.” “What do you need to know if this is right for you?” “What questions do you still have?” “The best way for you to know if this is for you is to try it. If I could show you how you can test drive it with no risk, would you like to do that?”
  9. “I have to ask my spouse.” “Great! This can benefit you both. Let’s all meet for coffee: I can show you how to get the life you want.”
  10. “What is it?” “Network Marketing: I am a representative for a wonderful _____ company, and I train others to do this too. This short video explains it better than I can. ” “I work from home for an international company and I train others to do this too. This short video explains it better than I can.”
  11. “How much money do you make?” “I don’t know, I haven’t finished collecting it yet.” (Yesterday’s efforts will be coming in for years in the future.) “Great question. So money is important to you. How much would you like to earn per month?” Answer in real numbers, or “I’m just starting. I aim to make $/E_______, as my sponsor does.”
  12. “I don’t know anyone.” “If I could show you how you know more people to easily talk to than you realize, would you like to hear a little bit more?” “Let’s sit down together and write down the people you interact with in the course of your days. I think you will be surprised! I can also show you how to add 2 people a day to that list.
  13. “Only people at the top make money.” “If I could show you how everyone has an equal chance to build their organization and be at the top, would you like to hear a little bit more?” “Network marketing pays you what you’re worth, often more than your upline.”
  14. “I don’t want to bug my friends and family.” “If I could show you a way to help them better their lives, that they would welcome, would you like to hear a little bit more?” “If I could show you a way to build your business big without your friends and family, would you like to hear a little bit more?”
  15. “I tried it. It didn’t work.” “Tell me about it.” ~ Show how they weren’t set up with the right skills or expectations. Network Marketing itself works, as proved by so many. “Would you be willing to try it again with proper training?”
  16. “I already have a good job.” “Do you have a fund for your kids’ college and a secure retirement? If I could show you a way to get that, while keeping your job for now, would you like to know a little more?” “OK. ~ Would you like to build a Plan B now in case one day you didn’t have a good job?” “Would you like to hear why professionals (like doctors, lawyers, etc..) do network marketing on the side for the leverage it gives them for years to come?”
  17. “I can get the product cheaper.” “Does the difference between price and value matter to you?” “This very product? I’m offering it wholesale to you. And the reward for sharing it with your friends.”
  18. “There’s too much competition out there.” “If I could show you how competition means great opportunity, and how this company is unique, would you like to hear a little bit more?” “I like competition – it motivates me. What about you?” “There are four billion potential prospects in the world, and 95% of them want something. The market isn’t saturated!”
  19. “I’m not the network marketing type.” “What do you understand about the network marketing type?” “What type are you?” “If you can simply build relationships with people who would like to make money, then you can do network marketing.”
  20. “My friend lost money with this.” “Tell me about it.” (It could be different than you think.) “That’s too bad. Do you know why?”
  21. “I don’t know how to start a business.” “If I could show you simply how, and guide you your whole career for free, and it is much easier than most businesses, would you like to know a little more?” “We have a system and we train you while you are making money. You get me to guide you to your dreams.”
  22. “I’m not good at technology.” “What technology are you not good at?” “Me either! I relate! If I could show you how I learned, would you like to hear a little bit more?” “We have friends who use phones to do this business. ”
  23. “I don’t like people.” “This business isn’t for you then.” ~ (Next!)
  24. Tip : When you hear an objection, you can pause, smile, and ask, “How do you mean (exactly)?” or “Obviously you have a good reason for saying that. Do you mind if I ask what it is?” And if you hear, “Not interested”, you can say, “Can you tell me what you saw that lead you to say that?”
  25. Listen to How Your Prospect Feels About the Business After the presentation, you will have 3 kinds of prospects. (it would be good to ask this upfront on what category they belong to…) “C-prospects” are those who are not interested or super negative about the business “B-prospects” are those who are interested, but they still have questions “A-prospects” are those who are ready to try it, their only question is how to join Now, based on their answer, you should do the following:
  26. Now, based on their answer, you should do the following: For your A prospects: Well, then give them the instructions on how to join (congratulate them, give the sign-up forms, pay-in, next steps, training schedule, etc…) For your C prospects: Never argue with them. Just thank them for their time, assure them that you understand that the business is not for everyone. Then ask if they would prefer to leave at this point, and thank them for time. Generally A & C prospects are the easiest to handle since somehow they have already decided on where they will go with the business. On average these would just be 20% of your prospects.
  27. #1 close: Get ready this is intense: I just go up to them, give them a high five and say, “You’re in right?” And then it’s simply about following up with the correct questions: Are you ready to get started? Do you have any questions? Do you have any more questions or are you ready to get started? HINT: Use the work okay! “Let’s get you started okay?” The #1 reason people don’t join network marketing is they’re not asked! Just ask. Ask early, ask often. Sort don’t sell!
  28. Tip: At the end od every presentation don’t forget to ask for referrals. “I do appreciate you time today. May I ask you if you know of anyone who would like to: earn an extra income? work on a plan B for their family? likes to travel? have their own business with no risk? likes to meet new people? And if so could I use your name as the referral contact” ?