Monday, September 25, 2023

Tired of the No: Tips on Objection Handling

In network marketing, hearing “no thanks” is something that happens on a daily basis. That’s not necessarily a bad thing; in fact, if you don’t often face rejection, it could mean you’re not networking enough. A quick survey among Independent Representatives of QNET in India revealed some very useful tips on how to manage and overcome objections, distilled here just for you.

1. Listen to the WHY behind the “no”

Resist the temptation to comment, debate, or roll your eyes when someone objects. Instead, listen to their reason for refusal. Once you know it, you can begin to formulate a response. It’s common sense: if you don’t know why someone is saying no, how can you convince them to say yes?

2. Empathise with them

Put yourself in their shoes and see things from their point of view. Do they have a negative impression of the industry? Do they lack the confidence to run their own business? Or are they simply not interested?

3. Be prepared with information

A misconception of network marketing can be corrected by giving someone the right information. Try not to sound preachy or pushy. If a prospect is worried he lacks the skills to be a good networker, well, there’s where you step in to offer guidance. All reputable Network Marketing companies provide training for their distributors. And if someone really just isn’t interested, they may not be a suitable member for your team.

Common objections and how to respond to them

How much money are *you* making?
Top income earners say this – “It’s not about how much money I’m making, it’s about how much money you are capable of earning.”

Is this a trick? No. There’s a good reason for putting the focus back on to the prospect — your prospect doesn’t yet know the beauty of being in a legitimate network marketing company, where anyone regardless of when they join have the potential to earn a significant income, if they are willing to put in the work. Their success is limited only by their own limitations, not someone else’s and that is the beauty of being in business for themselves. This is not a pyramid scheme where only the people at the top make money.

Note: If the opportunity is legitimate, the company will have a clear earnings disclaimer. Ultimately, the earning potential is in the hands of the person doing the business.

I can’t afford it!
If the opportunity is legitimate, your start up cost is either minimal or like in the case of QNET, it’s free. There is no registration free involved to sign up as a QNET Independent Representative.

It is likely that the person you are talking to works a regular 9-5 job. Now is a good time to establish their why. In most cases, the WHY has to do with making more money – money for a dream home, for higher education, for their children’s future, for retirement. Re-direct them back to their WHY.

Rohit, a networker in Delhi for few many years says he asks them – “if you are working for over 3 years and have not yet found a way to achieve your dream, then perhaps I can show you a way to get there with this opportunity. Can you really afford to give up on your dream?

I don’t like/don’t know how to sell
Few of us are natural born salespeople. This is a good time to fill your prospect in on the training and support provided by the company and your own team. No legitimate direct sales company would leave their distributors hanging without a proper support system.

I don’t have time
Sunil, a networker from Bangalore advises making their objection the reason for signing up, which is a very good point.

You can ask, “If you keep doing what you are currently doing, do you think that over the next 5 years you will have either more or less time?  With network marketing you can leverage your time through the efforts of others.”

One of the main benefits of running your QNET business is over a period of time, it frees you up to focus on your other passions.

But pyramid schemes are illegal!
Yes, they are. And as a representative of QNET, you are promoting a legitimate direct sales business. Explain to them the differences between a legitimate direct sales business and an MLM scam (Hint: one huge difference is, real businesses reward members for product sales, whereas fraudulent companies focus on recruitment of new members).

A great way around this objection is to outline the similarities network marketing has with the popular on-demand businesses of the new economy.

Read here about Direct Selling in the New Economy

The key is to not get into a fighting match. Do not beg or plead. It makes you seem desperate. If you really do have an incredible opportunity (and with the QNET business, you do!), then you are the one in the stronger position. If not this prospect, then someone else who can see the value in it will join you. Put yourself in the prospect’s shoes and imagine if someone pleads you to join a business opportunity, would you join?

Remember to edify your company with facts and figures and third party endorsements — the number of offices it has, certifications, awards, partnerships, features in the media.

The key is just being prepared. Practice, practice, practice. The more comfortable you are with handling common objections, the more at ease you will be over a period of time and deal with them with confidence.

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