The 4 Step Technique to a Higher Closing Ratio in Network Marketing
The higher your closing ratio in Network Marketing, the less you need to work and the quicker you become successful.
The closing ratio definition? More sales and more new distributors equal more money.
Prospects war with network marketers. The network marketer gives reason after reason for joining. Defenses are built up by the prospect during the presentation as to why he cannot join. The presentation is complete and the war of minds between prospect and network marketer begins.
Four Techniques to Higher Closing Ratios
With all these problems, the prospect does not have the time to listen to all of what the network marketer offers.
What’s the solution? Close before your start.
The technique to higher closing ratios puts people at ease BEFORE the presentation by telling them (Tom “Big Al” Schreiter’s book Big Al Tells All):
- Most people buy your products or join your opportunity.
- The total cost of your products or opportunity.
- Reasons why he or she shouldn’t buy or join.
- That you will just present the facts and then it’s up to him or her to decide.
Tell these four things to the prospect BEFORE you make the presentation and you have the closing ratio formula to success.
Here are two examples of usage with the technique to higher closing ratios.
Donna, most people I talk with join (NAME OF YOUR COMPANY), because they see how well this can help their incomes. The cost is only $1000.00 plus shipping and tax, that’s less than $2.90 a day… less than the cost of a good cup of coffee. As a matter of fact, the only two reasons people don’t join are: they don’t really understand our program, or that times are so tough, they just can’t afford $2.90 a day, and rather spend it on that cup of coffee.. What I’m going to do is just present to you the basic facts about our opportunity and if you like it, fine, we’ll get started. If you don’t, fine, that’s okay too. Fair enough?
John, most people just love our “stress cure teas” (NAME YOUR PRODUCT) from the Amazon. They’re always telling their friends about it. After all, it only costs $45.00 plus shipping and tax, and that works out to only $1.60 a day, less than a cup of coffee if you think about it. You know the only reason people don’t buy this great product is that they can’t believe how well it works, or their budget just can’t set the $45.00 aside. Anyway, let me show you how it works and if you like it, fine, buy one and surprise your wife. If you don’t like it, that’s okay too. Fair enough?
How many cold calling prospects would you close if you started your presentation by revealing everything upfront? Higher than if you didn’t. Closing ratios in sales increase. Closing ratios in new members increase.
Why the Four Techniques to Higher Closing Ratios Work
By using the four techniques to closing ratios BEFORE your presentation, sales and sign-ups will increase dramatically. Here are why the four techniques of the formula work.
(1). Telling your prospect that most people join your opportunity or buy your products creates incentive. Most people want to be first and not last. You create a sense of urgency to buy now or join today. The prospect wants to know who else is joining and buying. Since MOST people join or buy after speaking to them, this nudges the prospect to take immediate action.
(2). You have put yourself above most “network marketers” he has encountered by revealing the TOTAL COST upfront to the prospect. Most network marketers HIDE the price. They spring it on them at the end of the presentation. In the back of the prospect’s mind lurks the worry of how much this “thing” is going to take from his wallet. Revealing the price at the beginning lays calm those fears. The clutter is removed from his mind to listen.
(3). The prospect sees you as an honest businessman who is trustworthy and possesses confidence by telling him the entire cost in the beginning. He doesn’t see you as a “sleazy salesman” trying to hold back and lay traps for him to trick him into buying or joining. It doesn’t matter if your price is “high” or “shocking,” he will want to hear about what you offer.
(4). The four techniques to higher closing ratios is a non-pressure approach. It gives the impression that you are not pleading, begging or chasing versus the “high-pressure” approach “you have to buy or join now.” Defenses by the prospect decreases while his interest increases. It motivates the prospect to buy or join.
(5). Giving the prospect REASONS NOT TO BUY takes the pressure off. Lead ratio, cold calling ratios, warm market ratios and average sales closing ratios increase. The prospect doesn’t war with you. He doesn’t build up defenses which you must fight to tear down. You remove the fears of buying and joining and your prospect listens more to what you say without worries.
(6). “Reasons not to buy” force the prospect to buy or join. You’ve said, “Everyone buys or joins unless he doesn’t understand or is broke.” Giving reasons not to buy before the presentation helps isolate any objections at the end. You’ve narrowed the objections to two reason… he needs more information or he doesn’t have the money. Other objections are squeezed out and won’t enter his mind.
(7). Telling the prospect that it’s okay if he buys or joins or not relieves the sales pressure. Adding “Fair Enough” to the pre-presentation at the end commits the prospect to a decision NOW. This removes the “I’ll think it over” objection which usually comes from the prospect at the end.
Want higher closing ratios in sales and new members from prospects? Give them the incentive to be first and not last. Reveal the total cost upfront. Instill trust and confidence by giving them reasons not to join. Tell the prospect it’s okay if he buys or joins or not…commit the prospect to a decision now with “Fair Enough?”