The most common objection that you will get from your prospects in the network marketing is the price objection. Are you tired of hearing someone say, “This is great but I just don’t have the money.”
The trouble about this objection is that you don’t know if your prospect is just brushing you off or if they really want to join but they don’t have the money to get started.
If you are like me then you were taught that if they have price objection then they just don’t see the value. That’s only partly true. Many people see the value in flying first class but most don’t. Sometimes it’s not about value, it’s about whether they can afford it or not.
For a while when I ran into someone that couldn’t afford to get started, I would talk about how they were wasting money on frivolous things like cable tv or eating out. I would say things like, “If you wanted success bad enough, you would find the money.” I may have been right but it just made me look like a jerk. It didn’t close a lot of sales. Most of the people that I was able to close with that sort of retort would end up quitting.
Here are 2 simple of ways of handling a price objection before the prospect even brings it up.
1. Make It Part Of Your Prospecting
If you are looking for people that open minded enough to start a business then make money part of your prospecting process. People that are looking for a job are not expecting to spend any money to get started however people that are looking to start a business realize that they will need to some start up capital. Look for the business minded people.
It takes money to buy a business. If you are starting a restaurant, you need to buy all of the appliances like fridges and stoves. You need to by supplies like ingredients and napkins. You need to buy or rent a building. You need to spend money on advertising and employees. There is a lot of money that needs to be invested before any money even comes in.
If you are looking for business minded people then they will have no issue with paying money to get started in business. Once you’ve established that they are looking for a business opportunity then don’t be afraid to ask them this before you show them a presentation:
“How much money have you budgeted to start your business?”
Some people may have saved up tens of thousands or even hundreds of thousands of dollars. If they are open to your business then they will be pleasantly surprised that your network marketing opportunity only costs hundreds or thousands of dollars.
When you ask if they have money to get started, then you have a better idea of who you are talking to and what they are really looking for.
2. Create A Safe Space
Here is another way of handling a price objection before your prospect even has a chance to bring it up. Sometimes they really want to get started but they just don’t have the money. They might feel ashamed so they won’t tell you they can’t afford it and they might tell you another objection instead.
Once you have finished your presentation and they said how much they like the business, do an assumptive close that makes it ok if they don’t have the money:
“Do you have the money ready or will you have to raise it?”
Often a prospect will mentally disqualify themselves if they don’t have the money. They might think that most people that join are people that have a lot of liquid income. This question allows them to realize that if they don’t have the money right now, it allows them some time to raise it.
It also allows you as their advisor to give them ideas and on how they can raise the money. Maybe they can sell something or maybe they’ll have enough money when their next pay check comes. They might be able to borrow it from a friend or family member. It allows the 2 of you to overcome the objection together as team rather than allowing price to become an argument like most network marketing objections turn out.
These are 2 great ways of overcoming the price objection in MLM.
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