I want to talk to you about how to help your prospect overcome the price objection. What I really want you to focus on is one question in particular when you’re speaking to your prospects.
Make sure that you share this with anyone that you know in the network marketing space that is struggling for ways to overcome price objection. This will really help them.
This is how simple overcoming this objection is.
First of all, you have to find out exactly what it is that they’re looking for, if your solution is right for them, and what their goals are. This is super, super important.
I know that I use a lot of my examples for weight loss because I’m in health and wellness, so I’m going to give you the examples.
I have to find out what are they looking to achieve. Are they looking to lose ten pounds, 30 pounds, 50 pounds?
Then what else? Beyond weight loss, what else is costing their health, how else can they benefit from health and wellness? Energy, more balance, less stress, better sleep.
All that comes into play.
If it’s weight loss, them playing with their children, being able to get up without being out of breath. I take it deep – like being able to button our pants without sucking it in. I let them get very, very, very descriptive.
I hear them out, I listen and then we get to the cost.
Now, I don’t just go to cost. I show them value. You have to show the value. They have to understand what they’re getting.
If you’re going to say, “You’re going to get this pack. It’s $400,” there’s no value attached to that.
Through this process, you’re showing them how your product or service can be of value to them and you’re hitting them every single way on the emotional scale. Got to hit the pain, hit the pain, hit the pain and have them really describe their pain.
Then, when you get to the price, there’s a couple ways you could go about this.
For me, I’m really straightforward, so I just call it like it is. I call it out.
If you’re like me, you just want to get down to it and you do it in a really respectful way. But, if they’re going to hem and haw over price, the question to them, then is “What is the cost to you if you don’t get the 50 pounds off the body?”
“What does it cost you if you don’t have the energy to get out of bed and take care of your children?
“What is that cost to you that you’re living to the point of where you’re so stressed out your hair is failing out of your head? Or you can’t sleep?”
“What is that cost to you, because I don’t need the product. I take the product. I love the product. The product helps me. I’m here to talk to you to help you, to offer you this solution. If you’re going to put a price on your health, well then I can’t help you.”
It is called posture. It is backbone. It is you running a business. You are not here to offer free services.
They obviously know there’s a price attached.
Now that’s me saying, “Well, I’m here to give you the best possible outcome, so I’m going to give you the best pack that is going to offer the greatest results for what you’re looking to achieve.”
You could also help them with breaking down costs per meal and your costs per day with your pack. You could also help if your company offers several different packs, several different price ranges. Maybe you want to scale back for them a bit and then help them just get started.
You guys, any way you can get the product into your prospect’s hands is always going to be a really good idea.
If you’re up-line and team is telling you, “You have to stick to this. You have to stick to this $1,000 pack,” I hate to tell you, but there’s not a lot of people in a position that are willing to spend $1,000 on a starter kit.
You might have to scale back and you could piece a meal pack together for them. Just get it in their hands. Start helping them on these products and then showing them how to get the product paid for.
Most women don’t have to go to a spouse and ask them to spend under $200. If they can’t spend $1,000 on a pack because their spouse is going to kill them or they don’t have the money or they’re on a budget, then start them any way you can. Show them how to get the products paid for. We all know that $200 and under, we could get this person’s product paid for probably pretty quickly.
I don’t want to lose them because this is a way now for me to get them in and then help them work through their network. If they’re not interested, I’m working through their network.
You never want to lose a prospect just because they can’t come in at a certain pack. Offer them something else. Make a pack up for them. Whatever you have to do to help them get started and help work through their network with them and help them get the product paid for. Have them start building trust in you.
The one question you want to ask is “What is the cost of if you don’t do this?”
Take the focus off the price and focus what it’s going to cost to them if they can’t achieve those results. Speak to the pain. That’s it. Sales is all about emotion, you guys.
We justify with logic later, but you’ve got to get them on emotion in the beginning.
Let me know if you have any questions about this episode by leaving me a comment and please share it this with those that you know need help and struggle with price objection. We are all hear to help and support one another.
Do you feel like you are struggling to get qualified prospects, enroll new reps or to duplicate what you are doing? The Silent Recruiting Method Course tells you the secrets to overcoming all three of those things that we all struggle with when we are growing our Network Marketing business. While you are still here, here’s three more tips on exploding your business. This course is the roadmap I used to go from 0 – 6 Figures in 12 months and I want that for you, too! Click the link below to check it out.
Until next time, you guys, take care and I’ll see you all real soon.
Cheers to your success!
Did this help you? If so, I would love to hear your thoughts below in the comments.
Success Junkie Blog
I am new to MLM and Internet marketing , but i have been in direct sales for many years and everything , that you talk about resonates with me. Just to add couple of things if you don’t mind. Price objection is not REAL objection . It is just another way of saying , that they are not sold yet. In this case (like you said)I would keep adding the value , using the Right words , but also Mental pictures , which I would stat with word : Imagine… Example:>Imagine in the morning you get on the scales and , not only you notice ,that you are couple of pounds lighter , but you also can see your toes without looking in the mirror? How would you feel? And , if everything failed , and you have this feeling(I am sure you know this feeling) , that the next words from them would be ::If you are anything like me and my wife you , probably , have to think about it ,right ? So , if you don’t mind ,I will attend the bathroom and you think about it for couple of minutes . I can’t tell you how many times , when I come back , I would hear:>O.K. we take it.
This is my to bits.
And again thanks a lot for your help.
Thanks for your experience/advice Alex, and for this helpful article Julie.
220882 41877superb post. Neer knew this, appreciate it for letting me know. 59169