Today, I want to share a simple marketing principle with you.
This applies to network marketing and ANY other type of business.
This simple concept describes WHY people buy or don’t buy from you (or your competition).
First off, people only buy something for one of two reasons.
Those reasons are the fear of loss or hope of gain.
Some marketers refer to this as pain vs. pleasure.
For the purpose of this article, I’m going to assume these two things mean the same thing to you.
To put it in layman’s terms, people only buy something because they fear what they will lose by not buying it or because they are excited about what they will gain by buying it.
That is how your prospect thinks.
These are their real hot buttons.
It’s your job to answer these two questions in your prospect’s mind.
It’s your job to figure out what your prospect wants and then show them how to get it.
You need to put yourself in your prospect’s shoes or state of mind whenever you can.
Think of things from their perspective.
In most cases, the fear of loss is the greatest motivator for your prospect.
Yeah, people get excited about gaining something, but they are overly passionate about no losing out.
As Jay Conrad Levinson says in his best-selling book Guerrilla Multi-Level Marketing “people are more motivated to stop their pain than they are to find positive solutions (page 28).”
Let me give you a few examples.
# 1 People will be overweight for years while they are married, but do nothing to lose the weight until they go through a divorce and have to find a new partner.
# 2 People buy junk food because of the pleasure they get from eating it, even though they know it is bad for them.
# 3 People will stay in a job for DECADES that they hate, and not start their dream business, because of the fear of the unknown.
# 4 People will stay in a unhealthy relationship because of the fear of not having a partner.
# 5 People will spend lots of money on lottery tickets, even if they are broke, in hopes of winning it big.
Can you relate to any of these examples?
Other Posts You Might Enjoy:
- Fear of Loss is the Best Motivator
- Think Like Your MLM Prospect If You Want to Sponsor More People
- My Top 48 Selling Tips: Awesome Frank Bettger Quotes
- You’re Looking for Motivated People, Not People to Motivate
It’s funny how people think.
You can show them tons of ways how your product or business opportunity will actually help them, but they still can’t make a decision.
Yet, when you show them what they will lose by not taking you up on your offer, they will whip out their credit card and buy it on the spot.
I’ve seen this happen over and over.
As a smart network marketer, you really need to understand this simple marketing concept.
When you are talking with your prospect, make sure that you focus on what they have to lose by not doing business with you, or not buying your product, rather than just focusing on what they have to gain.
One of the best things you can do ahead of time is make a large list of what someone has to lose by not doing business with you, so you can focus on these key points throughout your presentation.
If you do that, your sponsoring rate will go WAY up.
These are often known as the BENEFITS of doing business with you.
Remember, people are not logical.
They are emotional.
Appeal to their emotions and realize that no one wants to lose out on something big.
They might like what they have to gain by working with you, but that won’t really move them to action anywhere near as quickly as showing them what they lose by not doing it.
What do you think?
Do you think the pain vs. pleasure concept is relevant to network marketing?
If so, leave a comment below to share your thoughts.
I look forward to hearing from you.