How to Create Fear of Loss in Network Marketing

You are in your favorite store, walking around simply to see what they have to offer.  You have absolutely no intention whatsoever to purchase anything while you are there.  All you want to do is kill a little time window shopping before you leave the store and continue on with your day. However, out of the corner of your eye, you see a “FINAL DAY FOR SALE” sign in your favorite department of that store. One of the customer service representatives informs you that if you do not take advantage of this sale today, then you will completely miss out because it is going to be over tomorrow.

 

After an unspecified period of time has passed, you finally leave the store with several shopping bags in your hands.  That is the power that is involved with fear of loss – being convinced that you are going to miss out on something if you do not take advantage of it today.  How can this sense of urgency be created within your business to close more prospects?

 

How to Create Fear of Loss in Network MarketingMaster Assumptive Closing

 

In order to create fear of loss within the mind and heart of your prospect, you need to become a master of assumptive closing.  Have the mindset that they need this opportunity and will sign up – the only person that is not aware of those points right now is them.  Your approach needs to be direct and firm, knowing that you have the opportunity that they have been looking for whether they know it or not.  As you progress through the different stages of prospecting, make sure that you are continuously closing them.

 

Everything Ends Today

 

It does not matter how long your organization has been recruiting or even how long the company that you work for has been established. If you want to create a fear of loss within your prospects, then you need to paint the picture that everything will end today.  Signing up for your MLM opportunity at this “competitive” price or for this “amazing” deal will not be available tomorrow.  Once you have lured that fish in and made sure that they have taken the bait, you need to make sure they know that it is now or never.  Create a sense of urgency within them to get them excited to the point where they will have to sign up right now just to make sure that they do not miss out.

 

How to Create Fear of Loss in Network MarketingKeep Pulling At Their Heart Strings

 

You need to make sure that you keep tugging away at their heart strings in order to really drive the point home.  Why else do you think salesmen in your favorite store keep talking about how good this product would look on you or how much it is going to benefit you personally after you purchase it today? You need to have the same approach.  Once you have found out what motivates them (i.e. their “Why” statement), keep nailing that particular point until they pick up the pen and sign on the dotted line.

 

It’s your turn!

 

What do you do to create fear of loss for your prospects?  Any good tips that you can share?  Please leave your feedback in the comments section and I look forward to reading them!

 

To your Success,

Nate Leung

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    Nate Leung

    Nate Leung

    CEO & Founder @ NateLeung.com at NateLeung.com
    Nate Leung is the CEO and Founder of NateLeung.com, and author of "Virtual Entrepreneur: Live Free With the Business of Your Dreams". He has been an Internet Network Marketing professional since 2001. Nate specializes in blogging, generating highly targeted leads, prospecting, social media and driving traffic. You can find out more from Nate by connecting with him over at Google +. There is no greater passion he has than helping people to succeed in their business. He teaches people how to use the Internet to build a successful Network Marketing business. If you're struggling and or looking for help, contact Nate here.
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    Nate Leung

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    22 Responses to “How to Create Fear of Loss in Network Marketing”

    1. Woolley

      Great article Nate, thanks!

      [Reply]

      Nate Leung Reply:

      Thanks Woolley, glad you enjoyed it. :-)

      [Reply]

    2. Greg

      Great information as always Nate. Pain and Pleasure principle… the fear of loss, the pleasure of gain.

      [Reply]

      Nate Leung Reply:

      Thanks Greg!

      [Reply]

    3. Irene

      I can always count on you to give such great information and today is no exception. I am just learning about closing the deal. Thanks for sharing Nate.

      [Reply]

      Nate Leung Reply:

      Hey Irene,

      Glad it helped. Thank you for stopping by!

      [Reply]

    4. Ryan Biddulph

      Hi Nate,

      Work those heartstrings hardcore. Keep tugging. Keep pulling. Doing so helps you connect with their buying needs.

      I stress how I travel the world and live the internet lifestyle and make money online while lazing at the beach. Yep I work too, but I stress the feeling of being free to set your own sked, and prosper.

      The more people buy into that feeling the more they fear losing that feeling. It is quite a wonderful strategy.

      Awesome tips Nate, thanks so much for sharing.

      Ryan

      [Reply]

      Nate Leung Reply:

      Hey Ryan,

      You are living the internet lifestyle my friend. Thank you for the comments!

      [Reply]

    5. Richa Singh

      Wow you are showing us the devils side in here 😀 😀 As a recruited person I find this more interesting 😀 😀

      [Reply]

      Nate Leung Reply:

      Hey Richa,

      Cool deal! Thanks for stopping by and hope to see you again soon.

      [Reply]

    6. Stefani McCune

      Great post! This is awesome because it’s so true. The really GOOD marketers use this in their business because it works!

      p.s. I use this strategy with my jewelry business. The best day I’ve had with this technique was a $3,000 day because it was the end of the sale!

      [Reply]

      Nate Leung Reply:

      Hey Stefani,

      Sure is effective and you just shown proof of that! Thanks for sharing!

      [Reply]

    7. Jason Power

      Hello Nate,

      Great Advice as usual thanks for the information.

      Regards,

      -Jason

      [Reply]

      Nate Leung Reply:

      Right on. Thanks Jason!

      [Reply]

    8. Andrea

      Fear of losing out is really an important tool, no one wants to miss out.

      [Reply]

      Nate Leung Reply:

      Exactly. Thanks for the comments!

      [Reply]

    9. Dayna Camp

      Nate, fear of loss is one of the most powerful things to do in reaching out to prospects for your business. Consequently, after 16 years of building an mlm the traditional way and feeling a disconnect from my friends and family at times, I just don’t enjoy these tactics anymore. Some personalities are really cut out for this way of prospecting and they do well. Others of us need a much more subtle approach. That’s why I finally turned to building a business on the internet. Your website has great tips!

      [Reply]

      Nate Leung Reply:

      Hi Dayna,

      Your concern is valid. There are better ways to build a MLM Network Marketing business without alienating your warm market. Most of your warm market are not built for this type of business as many would say that MLM isn’t for them. Thank you for the comments!

      [Reply]

    10. Michelle Liew

      You have to create the sense that your customers will miss out on something if they do not buy your products, indeed. thanks for sharing!

      [Reply]

      Nate Leung Reply:

      You’re welcome. Thanks for the comments!

      [Reply]

    11. Ahmed Mandour

      Thanks Nate,
      your topic has a useful sides and perfect words, it’s very important in closing .
      Deadlines is useful in closing techniques and this could be successful closing technique

      Regards,

      [Reply]

      Nate Leung Reply:

      Appreciate the comments. Thanks Ahmed!

      [Reply]

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