Mlm Business - How To Overcome The Price Objection For Good
I am going to share with you one of the biggest secrets to overcoming an objection that nearly every MLM business owner encounters
. It's the dreaded price objection and comes like this...how much is it? don't have enough money, too expensive...If you understand the psychology of this, you will close way more prospects, generate more income and most importantly you will find that the price objection will never be an issue for you. It will make a huge difference to your MLM business.
The reason this is such a common objection facing MLM business owners is because people do not have the ability to appreciate value properly. Have you ever been frustrated knowing that you have a solution that will incredibly support, aid or add profit to someone else and they just don't get it? Ever wonder why?
It's because they do not have the ability to appreciate value. If a person cannot appreciate or assess value accurately, they will nearly always bring up the price objection. If you are that person, you will validate others who have the same affliction. In our MLM business we found that out the hard way. Having come from financial difficulties ourselves we sympathized with prospects who said they had no money, couldn't afford it etc. This cost us an enormous amount in lost sales and sent our MLM business into a tailspin until we learned how to deal with this objection.
The reason people bring up the price objection is because we live in a world where they are used to getting lots of stuff for nothing. As a result, their ability to appreciate value is diminished. They 'expect' to get something for nothing.
So, how do you deal with someone who doesn't appreciate value?
You have to help them attach value to your proposition. Instead of validating their objection have them tell you what the problem is that they are trying to solve. Then ask questions and listen for the emotional reason why they are looking to buy.
Let's say your MLM business markets computers. Your prospect could be looking for an updated computer system. Ask them why they are looking for a new system. They may say, 'because the old one is slow'. Ask why that is a problem. Right now you may be thinking. 'That's ridiculous! It's obvious why that's a problem.'
In any MLM business this assumption could cost you in terms of lost sales. Never assume the prospect is able and willing to 'connect the dots' as to why they really need to make the purchase.
Ask at least 3 or 4 questions until you get to the emotional reason why they are looking to buy in the first place.
In answer to 'what has been the problem with slowness?' they may say 'we have to constantly deal with delays and downtime' Then ask, 'has that been a problem lately?' 'Yes', 'give me an example'...
As they then relate to you their latest nightmare, they will now re-experience the frustrating emotion that occurs each time their computer dies. You will see it in their face and hear it in their voice. NOW they appreciate the value.
When you get your prospect to the incident(s) or emotion(s) that caused the original pain, you have attached tremendous value to the solution.
Once you get good at this, you will not only close more prospects in your MLM business, but you will rehabilitate your prospects ability to assess value properly. If you are 200% convinced that the value far exceeds the price, you will hardly be fazed by price objections.
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