This is a very common sales objection that a lot of us get, but are you able to break through this with your prospects?
You've just showed your business presentation and you've got down to the underlying question:
‘So is there anything you need to know before we get you started with us?'
And you get the dreaded ‘can you explain how the comp plan works?'
How are you currently handling this sales objection?
Is it working for you? Or are you looking for a way to handle this without explaining all the confusing details about your comp plan?
Cause let's face it
Your comp plan is confusing.
Everyone's comp plan is confusing. They're made that way, and you need a physics degree to make sense of even half of it.
Over the years of doing probably over 1000 presentations by now, I've tried a lot of different techniques when it comes to handling this sales objection and different comp plan questions.
I've finally dialed it in to where I'm now excited when someone asks me to explain my comp plan.
Weird right?
If they're asking about the comp plan, that means they're interested in becoming a rep and promoting! That's exciting.
Now before I got good at handling this, I had to be bad, and boy was I bad.
I'm what you'd call a Green personality. I'm very analytical and analytical people love details.
We like information that other people would glaze over.
If you understand personality types, you understand that not everyone's like you.
Click here to understand the personality types better.
So if I'm talking to a Red personality (loves money and is very ‘to the point') and I start going into very detailed info, when all they want to know is how they can make 10k a month, I'll loose them in my explanation.
So it's a good idea to understand WHO you’re talking to a little.
The Details Don't Matter
You have to understand that even though someone asks you explain the details, they don't matter.
What are you talking about Tanya?
Well, there was a dramatic change in my recruiting when I understood this.
When someone asks you how the comp plan works, what they're really saying is
HOW can I make this work for ME?
Let's think about this for a minute. Do you really think that they care to have us pull up the comp plan docs and go over the details for the next 2 hours with them?
Boring!!!
No, they never want that. They might think they do, because that's the only way they believe they'll understand what they need to DO.
But you know better than that.
You've been through your company training, you've been to your events and you've heard the success stories.
Heck, you're on this blog post.
So here's what I say anytime anyone asks me to explain my comp plan in this sales objection – I even say this to the Greens that want all the details:
“Awesome, so you're interested in learning how to make some money with this…am I understanding that right?”
You want to make sure they are asking out of interest, not just to waste your time.
“So how much, on a monthly basis, would you be interested in making?”
Find out where they see themselves.
“Awesome, and if we were to work together, how many hours a week would you have to put into this?”
Find out what they have to work with
Side note: see how we're making it about them and painting a picture with them?
This is way more powerful than making it about us and all the details. This shows you care about it working for them.
Find out what they want to make per month and how many hours they have per week to work with.
Next
“Okay so if I'm understanding you correctly, you're looking to make $1000 extra a month and you have about 6 extra hours a week that you could spare to put into this.”
“Now here's what I know when someone asks me about the details of the comp plan, they're really trying to figure out HOW to make it work verses how it just works. Because we could understand all the fine, complicated details, but if we don't know HOW to make it work, those details don't mean anything. Agreed?”
They will almost 100% agree with you.
“So, I could take up an hour of our time and confuse you with all the details that don't matter, or if can show you how to make this work to pull $1000 a month out of this, working 6 hours a week, and I can show you how to earn your investment back in the next 20 days,
Is there anything else you need to know before we start working on that $1000 monthly goal?”
Sometimes I'll share a success story in there that's appropriate to paint a stronger vision with this sales objection handling strategy.
Stories are really great in doing that; but do you see the difference?
Also, most people just want to understand how to make their investment back.
So if you have a getting started bonus that helps with that in your comp plan, share that, but never go into a crazy amount of details.
Will you get people that want more?
Yes of course. About 1% of the crazy population will want the crazy comp plan details, and in those cases I just send them the info to research themselves, because I understand how their personality type operates.
However, I'm never the one explaining the details. I keep everything I do very duplicatable.
There’s never been a time that this hasn't worked.
In fact, the last time I used it, the lady actually thanked me for keeping it simple and professional.
I keep it simple, so my prospects feel the process is simple.
Go out today, do a few presentations and the next time someone asked you about your comp plan use this process in handling that sales objection.
Test it out and let me know how it works for you. I always love a good breakthrough or success story that I can feature.
Do you have a way that you handle this question that's been working for you? Share your process in the comments section below, I'd love to see what other strategies are working well.
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