Learn How to Sell from Mark Cuban’s INCREDIBLE Sales Pitch

recently i stumbled across the most incredible sales pitch and it comes from none other than mark cuban owner of the dallas mavericks what's interesting about this is mark cuban i didn't know this bought the dallas mavericks when they were at an all-time low and i'm actually going to let him explain it himself it was one of the worst franchises in basketball history let's take a watch look when i took over the mavs we got we had been voted the only award we had won was we were voted the worst professional sports franchise of the 90s guys don't want quite an accolade oh yeah and we were really bad we weren't marginally bad we were really bad they were so here's mark cuban owner of the dallas mavericks and he has one of the worst performing teams in franchise history what would you do if you were him i want you to see what mark does to try to sell more tickets and completely turn the mavs around here's what he did next you know i was the new owner and instead of creating an office i didn't have an office and this was in january of 2000 there's a sales cubicle there was a sales bullpen and um i moved everybody so all the sales group were in um this like little gold the fishbowl that we called it and i put my desk right in the middle of it and i had a laptop an old school laptop from back then and i had a phone book and i had a list of people who had bought tickets and were former season ticket holders okay first important thing to note here is mark put himself right in the action he didn't send his sales guys off to another floor of the building he sat right in the middle so he could see and hear everything that was going on he also made sure that he was doing it with them he had his own laptop his own phone and his own phone book and then listen to how he decides to pitch those clients and who he decides to pitch first i got on the phone and i started calling people because i wasn't going to ask somebody else to start making calls if i wouldn't right and it was like yeah this mark you knew under the dallas mavericks i know you've been to a game and i just wanted to sit here and tell you we'd love to have you so what's really interesting about this is to be able to know your customers to be able to craft the perfect sales pitch you actually have to call your customers you have to really talk to them writing out the perfect sales pitch and practicing in your head is not the same as actually doing it because i will tell you and i used to have a sales job when you pick up the phone and your heart is racing you have a feeling of adrenaline and that adrenaline people can either hear it with your excitement or they hear it in your nerves and it's the only way to put your sales pitch to the test mark cuban did something really different most people when they're thinking about calling a potential customer they call potential customers new people people they can start fresh with but mark cuban did something different he called old customers angry customers if you were once a dallas maverick season ticket holder and you cancelled your season tickets it means you are an upset customer i don't know about you but that would be the last group i would think about calling but he saw it as an opportunity he saw this is someone who used to have a budget for this this is someone who used to care about the maps maybe i can rekindle something there and maybe i can learn something from them what's critical here is he called as many people as possible and this is key to creating the perfect sales pitch you have to talk to as many customers especially angry customers as you can because as he talked to each one he could predict what excuse was coming next so now let's watch his actual pitch and see what he said to those prospects we'd love to have you back but did you know that going to a mavs game is less expensive than eating at mcdonald's mark cuban just did something brilliant the very first thing he does is something called price anchoring so he references that going to a mavs game is even less than the cost of going to mcdonald's and this is really important when you think of going to mcdonald's you usually think of affordable or inexpensive when you think of basketball tickets you usually think the opposite expensive what he does is he price anchors you to the cost of a mcdonald's meal which is so easy so inexpensive that people sometimes do multiple times a week this is the very first objection that he probably heard was price by comparing it to the cost of mcdonald's meal it blasted that objection out of the water let's keep going do you know that we have tickets now that are less expensive than going to the movies and you'll get a unique experience that you'll never ever experience anywhere else well you guys suck you guys are awful and i'd be like do you remember when your your mom or dad first took you to a game yeah you remember how you felt yeah oh this is so good okay so he price anchors with the cost of mcdonald's and then a movie ticket and then he takes them into what's called a yes ladder so a yes ladder is when you get your prospect to start saying yes agreeing on things the hardest thing is when someone's in a no pattern no i don't do that no i don't need that no i don't want that so he ties into a yes ladder with the most powerful emotion there is nostalgia nostalgia is one of the best emotions there is because it's happy making and you can't corrupt it happiness today could go away in a burster in a moment but nostalgia is a memory and you can't take away someone's memory so he then immediately goes into the next price objection or the next objection when someone was saying ah but the mavs suck he made them remember a time where the mavs didn't suck when they were a kid and they didn't care how many passes were made or the perfect formations all they cared about was having a good experience so he makes them tap into that amazing nostalgic feeling and gets him to a yes letter here's what he does next do you get that going to mcdonald's do you get that going to the movies no we we create special experiences i can't guarantee you we're going to win or lose but i can guarantee you we're going to make the entertainment so when you look at your son or daughter's face you will be thrilled to death and know that you couldn't get that experience anywhere else and it's eight dollars a ticket boom right so last thing he does here is he reminds them how affordable it is comparatively and how you already spend that money money at mcdonald's the movies but it's not nearly as special as this and then the ultimate closing tactic is i can't guarantee a win which is true it's very important that you're honest with your customers but he can guarantee a special experience and most importantly creating a memory for your child most parents i know me especially would do anything to create a memory for their child so all of a sudden he makes the memory more expensive and here's what happens and it sure helped that we won games right but we realized what we were selling right we weren't selling basketball we were selling it was more like a wedding you know they were playing like the cool music at the time in the 90s i don't know bell biv devoe you know ll cool j poison um but um but i mean i made him i told him we're immediately changing music and to this day we do the same way i want the music to be more like a wedding you know think about the things you remember at a wedding you remember aunt susie getting drunk and dancing with you know goth jimmy you know and that's what makes a great wedding and that's what makes a great basketball game so what he does here the very last thing is he makes sure that the actual experience is incredible and this is how you craft the perfect sales pitch you start off with talking to real customers ideally angry customers and putting yourself right in the action and then you try to think of your customers objections especially if they're price objections always try to price anchor them to so they can see the value of the cost of the experience and then lastly you have to make sure the actual experience is good your product should be amazing your service should be amazing and that way when you actually close the deal they have an amazing experience and they tell everyone about it take a dash of mark cuban's magic and be sure to add some of your own are you living up to your full potential do you want more i would love to help you get started with my free training and learn more about people school today visit scienceofpeople.com p-school i have lots more sales tips you should know about be sure to subscribe to our channel to get our next videos and learn more and if you like this video give it a like

Channel: Science of People

Views: 101,223

Keywords: vanessa van edwards, science of people, communication, nonverbal communication, verbal communication, sales pitch, how to sell, prospects, how to get more clients, price anchoring, yes ladder, nostalgia, example sales pitch, selling tips, sales psychology

Id: xu21KLDwIsk

Length: 8min 20sec (500 seconds)

Published: Tue Nov 03 2020