How To Use "Fear Of Loss" Selling With Finesse, In Network Marketing
So many times sales people are taught to use “fear of loss selling” in network marketing, and using “take aways” to pressure people into signing up in their business, or buying their product. One of the best sales training tips I have learned, is how to use fear of loss selling as a last resort. I will show you how to sell, so that you won’t need to use fear of loss selling, or focusing on the close. In fact, your prospects will be begging to buy from you.
It’s true of just about any sales profession for that matter, fear of loss can be a powerful selling tool. That’s because no one likes to have something taken away from them. There is a right way and a wrong way to do this. First I want to talk about the wrong way. Prospecting doesn’t have to be a daunting task.
The wrong way to use fear of loss, is to assume your customer really wants your product in the first place. Cheesy sales pitches are just what you want to avoid. Avoid saying things like: “You won’t believe this great deal I have for you today”. Or pressure them with a statement like, “It’s only this price this month, after next month, the price goes up. The customer does not care, if it does not solve their problem. That’s what you have to do next, is find out the problem.
Continually ask questions to your prospect, find out what their hot button is, then simply press it. In so doing, you will be adding value to yourself, and your company. Remember, people buy you, not your company, product, or service. If you make them feel good, and they like you, they will buy with their emotional attachment to you.
The simple fact of the matter is, if you continually take the attention off yourself, and your business, and listen to your prospect’s needs. It’s very important to take the dollar sign off your prospect’s forehead. When you stop worrying about how much money you are going to make, and focus on the needs of the customer, it goes much smoother.
Establish rapport, ask questions. Ask them what the situation is, find out what the problem is. What can I do for you, the customer? You should have confidence in yourself and your product, but never assume that they will want to be in business with you, as they may not want to build a home based business at all. They might want your products if it meets their needs, and it’s easy find out what they are, with these common qualifiers.
Ask them about their work, what do they do?, do they enjoy the job? If they do, that’s great, people who enjoy their jobs are usually better prospects, because they exude confidence, and are not afraid of working.
Also be sure not to give your prospect too much information at your first meeting. Your goal on the first meeting, is not to book a meeting, but rather to peak their curiosity about what you do. You should be focused on getting their contact information, (unless it’s someone you already have their contact info). If you just met them, exchange cards at the end of the conversation. I usually don’t even mention my business, unless they ask me. I spend most of the time listening to them, and most of the talking I do, is asking them questions. Any good sales person will tell you, that if you listen more, and talk less, you will sell more, and pitch less. There is a right time and a wrong time to pitch. Wait until you have enough information from the customer, and you know what their hot button is.
You need to get permission to market to them, conversing and listening more than you talk is a great way to do this. Always get the person’s name right away, and say their name back to them. People like to hear you say their name, it establishes rapport and propels the engagement of the conversation.
I will give you an example of a conversation I had with a waiter one time. I told him that he did a very nice job serving my girlfriend and I, and I asked him this question. “You seem like you really enjoy working here Michael, how long have you worked here?” He said, “Two months”. I said wow, two months, and you serve like an old pro!” Do you enjoy working here? “Yeah, so far” he said. I said; “Great, do you ever look for ways to make extra money on the internet?” He said, “sure”. “Well here’s my card, with the website address on it, to get more information.” He said thanks, and I left him a nice tip. The conversation wasn’t long, and all I did was give him my card. I also had the number of the restaurant, and the guy’s name was on my receipt. So I could have always called back later and ask him if had been to the website.
Well guess what happened to the waiter? He came to my web site, he signed up for my newsletter, and he signed up for my business. The price never was an issue, I never got a single objection. The best way to handle objections is not to get any. Because I cared about his needs and wants, instead of worrying about signing him up for my business, he was more receptive to me. It puts you in a powerful position, and you can use this technique even if you are brand new to selling, it just takes a little practice to get really good at it.
When should the price become and issue? Price should not even come up until the end. It’s the major mistake sales people make is mentioning the price. Adding value first is the key, and I’m not talking about blathering on about how much money they can make in your business. People don’t care how much money can be made, if it’s a worthless product you are selling. If the products your company has are something you would still be buying, even if you weren’t making any money, then you have good products.
Be honest with yourself, and your prospects. If you don’t feel your products have any value, then don’t pretend, or try to fake it. Most people will know instantly that you are not being sincere.
Fear of loss comes in if the person is putting up buying resistance signals. You can always use this one fear of loss statement, and you can tailor this to your prospect. Say something like: “Well maybe it’s not for you, it’s not for everyone.” After you say that, don’t say anything else. The person will either say, “no I don’t think it’s for me”, or “well, maybe I should find out more.” No matter what they say, agree with them, when they are ready to buy, they will tell you. Then all you do is take their order, and continue to develop a relationship with them. It’s all about how you educate your prospects, and treating them like you want to be treated.