Let’s understand that when your customer just pulled out their credit card and purchased your main product… that they are interested. So why is it that they say no to another of your products? Let’s have a look.

When someone says no to an offer, many marketers believe the sale is lost and give up. They presume the lead didn’t want the product. That’s not only an incorrect theory, but a costly one. If someone has said ‘no’, you need to ask yourself why. From experience, 95% of the time it’s an issue of money.

So when someone says no, you have to react correctly; meaning fixing your offer to get them to start saying yes again. ‘Yes’ is a very significant mental trigger as it implies a handshake. So it’s vital not to make it easy for them to keep saying ‘yes’.

Here’s a simple technique called a downsell to get people saying yes again.

A downsell is the offer you make after someone says no to a previous offer. It’s characteristically a lower price (or something creative like a payment plan). It’s intended to ‘save the sale’ and to get your customer purchasing again and can be done in many different ways. You have to find the one that works the best for your business.

It’s a fact that up to 60% of people will purchase an additional product when they’re offered several opportunities and a few different options in succession. As well, it’s been shown that that 40% of people actually start out saying no but went on to buy an additional product. This means that 40% bought the downsell.

Here’s an example of what could be lost without using a downsell:
Let’s say that if 8% of people say yes to the main offer then usually about 5% will say yes to the downsell. So if your downsell was $10, and we sold 14,000 units of the main offer… that means 700 would buy the downsell at $10 (14,000 x 5% = 700 downsell customers).

So if you do the math…
700 x $10 = $7,000
That’s $7,000 of revenue that you would have not gotten if you didn’t use a simple downsell. Remember that usually when someone says ‘no’ it’s usually because of price… so be sure to offer them a downsell.

Another important factor is the influence of guarantees and reassurances. A customer needs to feel secure about buying from you. Using a guarantee statement at strategic places will boost your conversions and improve your relationship with your customers. Also be sure to explain to customers how much their credit card will be billed and about refund and cancellation procedures. And finally, if all of this sounds like Greek to you…understand that you may need more knowledge on who to run your business correctly.

For further information for your business, click here to get more info about How Network Marketing Works.

(This blog post is also published on my personal blog – About Khai Dot Com)

2 months ago, I was interviewed by Celine Tan – a prolific writer for Personal Money (a local magazine under The Edge that teaches people how to manage their finances)

The article was published and released to the public last Saturday (If you’re at a news stand, make sure you grab a copy)

It is a cover article that talks about 6 ways to create passive income streams.

I was chosen to represent the cyberspace community and talk about how I generate passive income using the Internet.

Now I must admit, I never expected to be interviewed, much less featured on a prominent financial magazine.

But on the other hand, I was very happy to share my thoughts and gain some exposure ‘offline’.

Generating passive income is a topic that I’m very passionate about.

In Celine’s article, she states that in the Malaysian economy, rising prices has forced the people to get a second job or create additional streams of income. Since time is limited, it seems only wise to diversify your income sources so that your income works for you rather than the other way around.

Once you are able to separate yourself from investing your time, you are basically generating money on autopilot and you can free yourself up to create new projects or more passive income streams.

But of course, getting the ‘engine’ started isn’t easy – you need capital to invest and you need to put in a lot of time into your passive income project.

In the article, Celine talks about how I started off as an author and a self-publisher. I didn’t have large capital to begin with but blogging and self-publishing are one of the most cost effective ways I used to get my assets built.

Here’s the irony about passive income:

We’ve been brought up in a world where people are conditioned to work 8 hours a day and in order to achieve more, they should be working HARDER (but we only have 24 hours in a day).

Sometimes, people who make MORE money without working harder are frowned upon. It’s as though getting money for doing ‘nothing’ is something evil or lazy…

Now to be brutally honest, deep down we would all admit that we are all lazy people at heart. After all, who doesn’t want to get something for nothing?

However, I’ve come to learn that there is nothing wrong with laziness because laziness in and of itself isn’t something bad, otherwise people wouldn’t invent the light bulb or the telephone and we would resort to the use of candles and carrier pigeons. (I cannot imagine sending an SMS on a piece of paper that says, “Where r u?” and wait for the bird to fly it over to my friend…)

I guess it is all about working smart. If you want to be lazy, at least do it in a smart way so that you will still be making money while you are lazing off somewhere else.

According to Robert Kiyosaki, anyone who creates enough passive income that exceeds their expenses (rent, expenses, loans, etc), have basically achieved financial freedom and have entered into the fast track of life!

I was shocked when I realized this… but even though my passive income has indeed exceeded my active income and my expenses, I wouldn’t consider myself financially free yet, and I’d rather spend the time creating more assets. It’s great that I don’t have to wake up and go to a job, but the biggest temptation is to take it easy and remain stagnant.

It also goes to show that the theory about the law of attraction works.

Years ago, I’ve visualized myself generating enough passive income, losing weight, and even appearing on a newspaper or feature article. Before this article, I was glad that 2 out of 3 of these goals were achieved (for my weight loss adventures, you can see it here).

This article has made my dreams come full circle (thanks, Celine!).

Now I hope to amplify my three goals (more passive income, getting six packs and hopefully – appearing on television).

(Editor’s Note: Making Money In The Network Marketing Niche Using The Internet Is One Of The Best Forms Of Passive Income One Can Make)