The Power of No | Ep. #994
Get ready for your daily dose of marketing strategies and tactics. From entrepreneurs with the guy and experience to help you find success in any marketing, capacity. You're listening to marketing school with your instructors, Neil, Patel, and Eric SU. Welcome to another episode of marketing school on their zoo. And I'm Neil Patel today. We are going to talk about the power of know, which is the best sales tactic. Now that sounds counterintuitive right? But why in the world does know? Why's no good thing? Well knows a good team because someone comes back, and they say, hey, can I have a discount? Hey, can I get more for the same price? And they keep asking for more and more stuff the moment you say, yes. With one thing they know they can walk all over you and ask you for ten more things, and it's non stop and what you'll find is one. It makes it harder to close at deal because they realize that you'll came into all of their demands. And to when you have your finalize, you're probably not going to like it because you'll find that it won't be as profitable as you want. You may even losing money because you're doing all these things that are out of scope that you may not specialize in and it could just end up eating away or private. Artisan, technically costs you more money. Yeah. No, actually, when you tell people know, even though they want your services, it seems like they have the edge. It actually makes them what you more. It's like dating. So when you say no to someone people are like what? And then they want you more because it confuses them. Right. It's like I'm gonna pay you money to client. But when you say, no, you show that you have standards you show that you have a backbone, and it shows that you have a spine as well. We actually just did this recently someone from our sales team, congratulations to this person. We said, no because this person the other client said they had two million dollar budget. And they didn't show up to two of our phone calls that were scheduled a head of time. And they started asking all these other things and we start to realize man, this is going to be a nightmare. So setting standards for yourself and saying no to people is actually going to protect you in the long-term because especially if you have a services business or even like a product business if you start saying yes to everyone it shows that you are basically just you're almost like a commodity. Right. But if you focus on helping a subset of people, you can charge more gonna make more money, and you're going to make your life more sane because you're not just trying to take on anybody. And in general when you're doing sales the last thing you wanna end up doing is losing a deal. So once you got your deal that you only know the structured you're pitching, someone they're ready to sign you've done a great job. We also find as the more you cave into people the harder. It's going to be for you to close the longest also gonna take now when you're using the concept of telling people, no, you can't always just flat out tell people know, you gotta give them a reason. So when someone will say, hey, Eric, like your ad agency wanna work with you. Can I get a thirty percent discount? Eric won't just say, no, he'll say, we can't do it. And the reason we can't do it as if we did this. We wouldn't be able to give you everything that's in the contract, and what's needed to grow your business. Whatever the reason may be, but an essence. Air gives away everything for half the cost. He's like we would technically lose money, which wouldn't motivate us to work on your campaign. So you wouldn't get the results, but giving them the reason also helps to. Yeah. Mark Cuban said every no brings me closer to a. Yes. So I don't think we should see. No. As a negative thing. The more you get used to note that means the more experience, you get the best sales people in the world, the best companies in world get rejected so often, right? Same thing with basketball or football, any type of sport. Like, you're gonna miss most of the time. But the ones that you hit those are going to be the ones that you wanna work with long-term that's kind of your sweet spot. So I mean, I don't think there's much more to add around this. Is there anything you wanna add? Nope. We're throwing in person that you can find out the details that singer grain dot com slash DT LA, and it's happening Jude twenty nine so we have a set date now in June twenty ninth and all the info on the landing page that is going to be changed to the event bright. So we are changing that links. You can go dot com slash check it out. It will be changed. Event. Bright after Neil night discuss it, you guys will be able to register their see tomorrow. This session of marketing school has come to a close be sure to subscribe for more daily, marketing strategies and tactics to help you find the success you always dreamed of and don't forget to rate and review. So we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on marketing school.