- WHAT IS NETWORK MARKETING AND HOW DOES IT WORK? - March 7, 2022
- 4 FUNDAMENTALS OF NETWORK MARKETING YOU NEED TO KNOW TO RANK UP FASTER - March 1, 2022
- How to deal with rejection and use it to your advantage - February 20, 2022
Have you heard this before; When your prospect is ready to buy, get out of their way, and let them.
Have you heard about that before?
Ask any network marketer what the hardest part of his job is, and I’ll bet he’ll say “closing.”
After all, signing new prospects/customers and up selling existing customers is how a network marketer makes quota.
If they’re not getting new prospects to sign up, they’re not going to hit their number.
And everything you do leads up to the one magical moment when prospect finally turns to a buyer or to end up joining you.
There are a handful of mistakes you need to avoid if you hope to be successful in your network marketing business career.
Here are 7 of the most prevalent — and devastating — closing fumbles I see network marketers make.
1. Not using questions
Many sales reps tend to use statements instead of questions when they’re phrasing their closes.
And they say selling is questioning and not telling.
What you absolutely need to do is obtain a direct answer, and you can’t do that if you say:
“We can meet tomorrow at 2pm.”
By formulating your intention in such a manner, you give your prospect an opportunity to respond in a number of different ways.
On the other hand, if you ask:
“Can we meet tomorrow at 2pm?”
You give them only two options, and they will either say “Yes, we can” or “No, we can’t.”
So, always go for direct questions which require pretty straight forward answers, and remember that statements won’t close you many deals.
Enter every interaction with a clear objective in mind, and don’t beat around the bush when asking for it.
For example, “I’m calling to see if you have questions about the proposals doesn’t make it clear what you want the prospect to do.
“Will you be signing and sending the proposal today?” does.
2. Expecting all or nothing buy in
Not everyone will purchase your top of the line package. That’s okay.
Have something else to fall back on.
Your superpower is progressive pricing.
Instead of offering a one-size-fits-all product, you can add features to your base product and charge accordingly for the additions.
Some buyers will love the premium package, but not everyone has the same needs (or funds) to go with the top of the line option.
That’s why you need multiple options to accommodate those who like your product but don’t want, or can’t afford, your premium package.
Take a look at your product and think of how you can simplify it or supersize it to fit the varying needs of your customers.
3. Trying to make it easy for your prospect
Let your prospect deal with their own feelings.
No more no less!
First of all, if you make things comfortable and put no stress, your prospects won’t feel the urgency to close the deal.
It’s your job to push them out of their comfort zone and make them realize that your offer is something they shouldn’t miss for the world.
This is not a time for creating a zen atmosphere of calm and balance.
No, you should openly remind your prospects about their pain points and issues, and at the same time tease them with a solution which is right in front of their nose.
They should only stretch a bit more, grab the remedy you offer, and get rid of the thing that bothers them and their business.
So, just like you need to accept the discomfort, it’s important not to make things easy for your prospects because you don’t want them to think that they don’t actually need your help or that they can take their time when making a decision.
4. Not targeting the right prospect
Selling to everyone is selling to no one.
Here’s the harsh truth: Not everyone will like, need, or want your product.
Here’s another whammy: Not everybody should buy your product, either.
I know you want to reach as many people as possible, but there’s a huge drawback to this approach.
When you sell your product to people who aren’t the right fit, you open the door to non-stop refunds, negative reviews, and websites erected for the sole purpose of trashing your good name.
Your product cannot answer the masses.
It can only answer the few.
But the good news is that those relative few can create a very profitable business for you.
You can use their feedback to further develop your product and reach even more customers like them.
It’s essential that you understand your ideal customers and market directly to them.
Remember that your product is not about you, it’s about the customer. Make this necessary shift and close more sales.
When it comes to closing the deal, ask yourself, How can I address the prospect’s pain point?
How can I help them see that my product is the ideal solution to their problem?
5. Adding commentary
Silence can be uncomfortable, but it’s golden when closing.
Unfortunately, reps often rush to comment on their prospects’ responses immediately after they’ve been uttered.
Here’s what this sounds like:
Rep: “Can you do this today?”
Prospect: “No, I will be super busy.”
Rep: “That’s not a problem – how is tomorrow?”
However, if you simply falls silent after the prospect responds, the prospect often answers your follow up question before it’s even spoken.
Here’s the above example, revised to use this approach:
Rep: “Can you do this today?”
Prospect: “No, I will be super busy.”
Prospect: “ … But I can meet next tomorrow.”
Don’t get in your own way by jumping to fill the silence.
6. Closing too early
Just as you wouldn’t pitch your product (I hope) on the first call, you shouldn’t go for a final close when you’re only halfway through discovery.
The sales cycle can and should be sped up if it’s possible to do so without cutting corners, but often you’ll need to follow each step and work on the buyer’s timeline to get a deal signed.
Trying to force a sale over the finish line when you’ve only completed a few of these steps will prematurely end a deal you could have eventually won.
7. Not calling to action
Here’s a common mistake that many network marketers make: In an effort to create a low-pressure sales environment, a well-meaning network marketer takes a “whenever you get around to it” approach to selling.
They assume that people will buy when they’re ready.
Here’s the thing: they’re never ready.
There’s always push back. It’s human nature to think about an idea and let it marinate.
People won’t buy unless there’s some sort of tension present.
One type of tension is self-directed.
It’s what the prospect says to himself, such as “I need this right now to solve my pressing problem.”
You can indirectly influence this by helping prospects see that your product is the solution to their problem.
A second type of tension is your call to action.
It’s what you tell the prospect to get them motivated to buy now.
Your call to action may be something similar to “Buy now with this special discount code that’s expiring at midnight.”
Both types of tension work, but you have more control over the second type of tension.
Use a call to action to appeal directly to your prospects.
Your call to action can help the prospect realize the urgency of acting now instead of waiting until later.
It can also reassure them that they’re covered in case they don’t like the product (for example, “buy this product now and if it’s not a good fit, we offer a full refund”).
Closing is tough, but by avoiding these missteps and sticking to a confident, concise, and “always-be-closing” mindset will set you up for success.
I hope you got some value out of today’s training. If so, can you do me a quick favor? Like, share, and comment below. It’d be great if you’d give me some feedback!
I hope this is helpful to you?
Let me know what you think in the comments below. And, feel free to share this with your teammates.
More Resources For You:
CLICK HERE TO JOIN NAIJA MARKETING PRO COMMUNITY ON FACEBOOK.
You can check here on how to join the Naija Marketing Pro Community Mastermind Group. Click here to join us.