If you are in network marketing, or any business, you will receive objections from prospective team members and customers. Learning to handle them effectively can determine whether you sponsor a prospect
or not. For instance, the “pyramid scheme” is an objection I hear all the
time. I didn’t know how to answer it until I discovered this quote – and
the answer to the pyramid objection.
“I am often asked if Network Marketing is a Pyramid Scheme. My reply is that corporations really are pyramid schemes. A corporation has only
one person at the top, generally the CEO, and everyone else below.” –
Donald Trump
I love Donald Trump’s response to the question of pyramid schemes. I admit I never thought of corporations that way until I read this quote.
But he is right. I used to work for a major corporation. At the top was
the president of the company. Below him were several vice presidents.
Below each of them were several directors. And below each of them
were several department
managers, who each had several department
supervisors below them. And finally below the supervisors were
hundreds of regular employees. No matter how hard I worked, I would
never make as much as the president, or the vice presidents, or the directors, managers, or even the supervisors. I might eventually get
promoted to supervisor, but only if a supervisor also got promoted or left and created an opening. But in network marketing I can go as high as I want, and without having to wait for the person above me to leave an opening.
So, now I have a thorough answer to the objection, and can even pull from my own experience. Learning to handle objections effectively is critical to your business success. Often the way a prospect responds to you will depend on how you respond to their objections. If you are evasive or defensive, don’t have an answer to their questions, or try to minimize their concerns instead of addressing them, all you are doing is reinforcing their fears that somehow network marketing is wrong. I had to learn this lesson the hard way through trial and error. Fortunately, you get to learn from my mistakes.
There are tips and techniques for handling specific objections. However, there are some basic rules that apply no matter what the objection is. Use them and you will be able to handle any objection a prospect throws at you.
The Rules
The rules I’m going to share should be universally applied to all
objections, including the ones listed here in this book. They will serve as a foundation for the advice I’m going to give you, but should also be mastered as a technique you apply to all objections. That way, even when you run into an objection that isn’t covered here, you’ll be ready to face it head on.
1. Listen! Let them ask their question or voice their objection completely before you respond. It’s important that you really hear what they are saying. And while you are listening to the words, also listen to tone and inflection. Observe body language. Often the objection they are voicing is not the real problem at all. If you can determine that and answer the underlying issue, you have won a new recruit. These people are looking for what you have. If you don’t listen to them and give them a voice, they will find someone who will.
2. Confirm that you heard what was said. This may require you to
repeat/reflect what is being said and ask questions. You can do this by paraphrasing what was said and then asking questions to clarify. “What I’m hearing is….” “Is this what you mean?” Or you can repeat the objection or question exactly as stated by your prospect to confirm that you were listening.
3. Validate their concerns without giving approval of the objection. Show
that you understand their objections and then ask how you can make them feel more comfortable and at ease. Handle the objection. Now that your prospect knows that you have heard his concerns and are genuinely interested in trying to help him, he will be much more receptive to what you have to say. Now is the time to address the specific objection. Remember, most objections are really indications of an underlying fear. Handle the objection, and probe for the fear that is the root. Then address the fear.
I’m sure you’re familiar with the phrase, “Hindsight is 20-20.”
Unfortunately, it’s usually after you’ve given the wrong response (or a wide variety of wrong ones) that you realize what you should have said. My aim is to help eliminate that learning curve for you so you can get right down to doing what you’ve set out to do – earn money and change lives.
Action step:
If you do not have good listening and communication skills, now is
the time to strengthen them. Take training in effective listening
and communication.
Excerpted from my book: "Getting to Yes: Overcoming Network Marketing Objections
