When you prospect in your network marketing business, it is common for prospects to have questions and also have certain mental roadblocks or Objections that need to be overcome.
One of the common questions and objections that your prospect may say to you is “Is this one of those Pyramid schemes” or “I don’t like Network Marketing” and unless you are able to help your prospect get over his misconceptions over the industry, it will be hard for you to get him to join your business.
How to Overcome the Pyramid Scheme or MLM Objection
There are 3 ways different aspects to this objection. In all 3 instances, you must ask the prospect to clarify what he means.
1)Pyramid Objection as a Legal Issue
When you ask him to clarify and if he says that
“pyramid schemes get shut down and are illegal”,
then you know it is a question of legality.
Then all you have to say is,
“This is absolutely not a pyramid scheme. Pyramid schemes are illegal and I would never get you to do something like that. Now, would you be interested to learn more about what I have to share with you?”
2)Misconception about Compensation
When you ask him to clarify and if he says that
“people at the top make all the money”,
his answers reveals that it is a misconception about the pay plan.
Then all you have to say is,
“The best part of our business is that you can start at the bottom and make more money than the people at the top. At my job, I could never earn more money than my boss and that’s why I am so excited and love this business so much. Would you be interested to learn more how this works?”
3) Bad Experiences or Lack of Knowledge about Network Marketing
Often your prospect may either:
– have had a bad experience before
– know someone that had a bad experience
– never been involved before but is skeptical due to lack knowledge of the industry
This happens to the majority of people who have the MLM Objection and it is important to be proud of the industry and also find out about his past experiences or understanding of the industry.
If they ask you
“Is this network marketing?”,
Important Questions to Ask Your Prospect
Here are a series of questions you can ask so that you can help your prospect overcome his misconceptions.
1) Absolutely! What do you know about the industry?
2) Have you been involved before? Can you let me know your experience?
3) It may not have worked for you in the past, but as an industry do you think network marketing works?
If they say yes, then you can skip to question 5.
If they say “not sure” or “don’t know” you can validate the industry by asking 1 of these 2 more questions
4a) Have you heard of Amway? How long has Amway been around? (answer is over 50 years). If the industry does not work, how can Amway been around for over 50 years?!
or
4b) If the industry doesn’t work, how come they are always so many different network marketing companies around?
The fact that Amway has been around for so long and/or there are so many other network marketing companies around must prove that the industry works
5) What do you think it takes for someone to be successful?
When you ask this, pay attention to listen to their answers!
6) If I can show you _______ (fill in the blank with what they told you in question 5), would you be open to taking a look?
For example, if they told you in question 5 that it takes a solid product to work, then you can say in question 6 that
“If I can show you a proven nutritional product that has been rated #1 in independent publication and Olympic athletes use it, would you be open to taking a look?
Another example if if they say in question 5 that it takes a solid company with credibility because too many companies close and go out of business then you can say in question 6 that
“If I can show you a stable company that is over 20 years old and is a publicly listed, would you be open to taking a look?
Make Sure You Listen!
Make sure you pay attention to what the prospect says and actually LISTEN to them. Don’t just think about what you got to say next because what they share with you will tell you what their real misconceptions are.
Once you can help them overcome their misunderstanding and more importantly show them that this time is DIFFERENT they will be open to taking a look.
But you won’t be able to do that unless you really LISTEN with the intention to help them.
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Watch the Video Training Below
Watch the video below of a live network marketing training where I covered in detailed of how to handle the Pyramid / MLM Objection.
Also, if you speak Chinese, you can also watch the Chinese version of this training here.
Also, the video above is only an excerpt of a 90 minute training that was recorded at The Movement in Long Beach, California. If you are interested to watch the full session you can access it here.
Feel free to comment below and let me know how this training has helped you.
Sincerely,
Simon Chan
P.S. If you want to learn more tips on how to invite more prospects and sponsor more distributors you’re invited to check out my free Sponsoring Workshop Webinar.
In addition to going in depth of what you just learned, this free 2 hour training:
You’ll also get:
– Proven scripts on how to talk to every type of prospect
– 6 Figure Close that I used to Sponsor a Diamond Director
– 5 Mistakes that Sabotage Most Distributors
– 1 Proven Followup Script that Get Prospects That Disappeared to Reply Back to You
– SURPRISE BONUS (but only if you pay attention to entire training)
To register for this free training, go to mlmnation.net/webinar.
