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Objection - Handling

Objection - Handling

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Published by dilipchhabria

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Published by: dilipchhabria on Jul 10, 2008
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02/21/2011

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Objection handling
Every
genuine
objection is an opportunity to close the deal. This is because if the objection is successfullyhandled, the obstacle which has troubled the prospect will have been removed. The key is to recognizewhether the objection is
genuine
or an excuse to avoid. Experience will give you this insight (i.e. whether the objection is genuine or not) but there are several tell-tale signs: e.g. if you have successfully handled the“coin too expensive” objection, the prospect might come back with trivialities like “How can I be sure thatthe coin is 24 kt.” or “how “I have never heard of GoldQuest as a leading numismatics company” or “Whydoes it take so long for the coin to be delivered” and so on and so forth through an endless list of excuses.A ‘no’ from a prospect is symptomatic of a deeper conflict and usually means one of four things:1 Fear of failure2 Fear of rejection3 Low self-image4 Misconceptions based on ignorance, not facts.If your prospect is totally negative, there is nothing you can say that will make him change his or her mind,so the best thing is to change prospects. It’s called
“NEXT”
A few tips:
Posture is fundamental.
Be calm and dignified as befits someone who is a proud part of anextraordinary business.
Listen carefully. Never interrupt and never argue with the prospect. Appreciate the reason for their objection and repeat their objection so that you clearly understand what they’re saying. Use workslike ‘appreciate’ ‘understand’ ‘realize’.
Smile before addressing the issue.
 
Answer the question with a question to ascertain whether theobjection is genuine. E.g. “An MLM? Really? What according to you is an MLM?” Call his bluff. Inmost cases the prospect has no idea what he is talking about or is mouthing pre-conceived notionslearned from others.
Ask “Is that the only thing stopping you from joining the business?”
Use the
feel-felt-found
formula. I understand how you
feel
. I
felt
the same but you know what? I
found
that in this business I can really earn the kind of money we have been speaking about, etc. etc.Indirectly you are saying Shut up, Johnny, you do not know what you are talking about, so listen towhat I am saying.
Don’t beat around the bush with a self-opinionated person. Ask him whether he is asking you or telling you and fashion your response accordingly.Some common objections:
1.This is not my cup of tea.
Why do you say so?
Which part of the business is not your cup of tea? (Identify the real concern.)
 
Use the feel-felt-found formula
2.Amount is too high/No money
Check whether he has any other reason.
Do you think so? Feel-felt-found formula.
Do you think you can start a business with this earning potential with such a low amount?
You are looking at the raw material content of the product. Is there any product, including what youwear or use (e.g. shirt, mobile, watch, shoes, mineral water) that you buy for the raw material cost?And by the way, do any of these products have a business opportunity attached to them?
How would you meet an emergency without money?
Wouldn’t you like to do something about that? Let me ask you a question. If you continue doingwhat you’re currently doing, will you ever have enough money for anything?
3.I do not have the time
Confirm whether the prospect likes the business and ascertain whether it is a genuine statement or anexcuse.
What is it you have no time to do – own your own life or earn substantial sums of money?
People who trade time for money rarely do. People who duplicate themselves have all the time in theworld.
Draw the time circle and explain how time is spent in a day. 
4.How can the company pay so much?
The company pays only on the binary system. You already know – or should know - the binarysystem as explained in our presentations.
In traditional business, 80% of the cost of the product goes to distributors, wholesalers, retailers,stockists and advertising agents. In networking marketing, these costs are virtually eliminated andthe benefit is passed on to IRs.
5.What if my network stops?
Why should you think your network will stop? Explain how the “chain-breaking” concept does notmean your network will break down.
The business depends on YOU. The biggest danger is YOU. If people in your organization stopworking, YOU can do something about by bringing more people on board.6.
It is a pyramid or pyramiding
What do you understand about pyramids?
Are you aware that architecturally, a pyramid is one of the most stable structures? Or that mostorganizations, including the Government, resemble pyramids? What is illegal is “pyramiding” whichis entirely different and which is banned in all countries.
What makes network marketing legal is that it requires the movement of products and/or services before anyone can earn money.
Are you aware that the Government of India, Ministry of Consumer Affairs, Food and PublicDistribution, Department of Consumer Affairs has clarified vide their circular dated March 31, 2003,
 
that the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 are NOT applicable tocompanies dealing with the distribution of good including multi-level/networking companies?
7This is a sure way of spoiling relationships
Why do you think it will spoil relationships?
Gifting an excellent opportunity can only enhance a relationship not spoil it.
If you speak to a prospect
without
expecting him to sign up, his rejection – if it happens - will notdisturb you and your relationship will continue as before. So where is the question of spoiling your relationship? Here again, the importance of 
POSTURE
cannot be over-emphasized.
8I do not have communication skills
Why do you say that? Use feel-felt-found formula.
Do you really think that communication skills are all that are required for success? If you areconvinced with the business and convey that conviction from the heart, your communication will beeffective. Passion, self-belief and attitude count for more than oratory skills.
If I can do it, I believe that you can too.
9Is it MLM?
What do you understand about MLM? In most cases, the prospect will not know anything or verylittle about MLM.
Explain the difference between traditional business and MLM and go on to explain the difference between MLM (diminishing commission) and referral marketing (equal commission at all levels).
10Let me get my two and then I will join.
It is not about getting two. The fundamental question is whether you want to earn Rs 3.5 crores or not. If yes, the first step is to join. The second step is to learn the business which includes learningthe various skills necessary to grow your business. Looking for two is like wanting to learn mathswithout entering school; or wanting to open a restaurant only if people assure you that they will patronize it; or trying to treat patients, seeing if it works and then applying to join Medical Collegeto learn medicine. In short, first join and then
do all that it takes
to earn Rs 3.5 crores.
Or again, trying to get two is similar to wanting to spend 50 lakhs on opening a shop and then tryingto figure out how many products you will have to sell before you recover your money. Rather thanthat, keep the Rs 50 lakhs at home.
11 In my present position, I cannot speak about this business
Ascertain his perception about the industry and explain that this is not some Mickey Mouse activity but a $ 100 billion plus industry.
Tell him about reputed people who are in the business
12 I will join you but you take it from there
When you join, you become an Independent Representative not a
DEPENDANT
Representative. Itis your business and YOU have to work it.
You become a brand ambassador of the company and you are paid for the advertisement you make(recommending the product to others).

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