Ian Altman discusses common mistakes in long-term sales engagements, emphasizing that sellers often focus on price concessions rather than mutual benefits. He highlights that longer engagements can attract more stable, permanent talent, benefiting both parties. Altman suggests presenting long-term deals as mutually beneficial, incorporating flexibility with rolling termination clauses. He shares a client success story where 90% of short-term clients eventually extended engagements. Altman advises sellers to align with clients' interests, reduce administrative burdens, and lock in pricing to ensure better outcomes and less hassle.
Ian, welcome to the same side selling Podcast. I'm
Ian Altman::Ian Altman. How have client expectations changed in recent
Ian Altman::years? Well, I want you to think about the experience that your
Ian Altman::customers have every day and how the state of the art even five
Ian Altman::years ago isn't acceptable today. So a few years ago, you
Ian Altman::could send a message to your client that their order was on
Ian Altman::its way. But that's not really enough anymore. It used to be
Ian Altman::that customers had access to product information only through
Ian Altman::sales people. Then we had the internet, and now they get
Ian Altman::access to cut to to product information and making decisions
Ian Altman::about buying without sales people and now customers have
Ian Altman::expectations that not only is information available online,
Ian Altman::but just about everything is available in real time. See,
Ian Altman::recently I was traveling on airlines and to make it so it's
Ian Altman::an equal opportunity episode today, I will tell you that I
Ian Altman::had an equally frustrating experience on United Airlines
Ian Altman::and on American Airlines in the past year. In each case, I was
Ian Altman::in a situation where I had checked a bag, which I almost
Ian Altman::never do, but if I'm, if I'm, let's say, bringing wine to
Ian Altman::somebody, I have to check the bag. If I have golf clubs, I
Ian Altman::have to check the bag. So it was in each case, there was rare
Ian Altman::instances where I had to check a bag. And through flight delays
Ian Altman::that can happen or change in aircraft, or all these things
Ian Altman::that are totally reasonable things to have happen. The
Ian Altman::airline had lost track of my bag, but because I have RFID
Ian Altman::tags in my bag, I had more accurate and up to date
Ian Altman::information about my bag than they did. So did the airlines
Ian Altman::make use of that information? No, of course, they didn't.
Ian Altman::Instead, they tried to convince me that the information I had
Ian Altman::that was real time as of two seconds prior to sharing the
Ian Altman::information with them was outdated. They knew better where
Ian Altman::the bags were than I did, and of course, as a customer, I was
Ian Altman::frustrated because I was trying to help them succeed, and they
Ian Altman::weren't taking that information, and instead, were committed to
Ian Altman::failure, which made it really frustrating, made a negative
Ian Altman::experience for me. This is one of these things where they were
Ian Altman::relying on their outdated systems, their outdated
Ian Altman::methodologies, and saying, no, no, trust us, we know where your
Ian Altman::bag is. And I'm saying, no, no, my bag is at gate D right now,
Ian Altman::and we're at Gate A, I'm pretty sure it's not there. I know
Ian Altman::exactly where it is. And they said, Oh, well, it's probably
Ian Altman::outdated. And I said, No, no, this is as of three seconds ago.
Ian Altman::As of two seconds ago. This is current. It was just scanned,
Ian Altman::and it's almost like they didn't believe it. And then, of course,
Ian Altman::the airline fell back on their own procedures and said, Well,
Ian Altman::you know, things are complicated, and there was no
Ian Altman::way for us to know where the bag was, when the reality is we knew
Ian Altman::exactly where it was. One of my team recently were working on
Ian Altman::something, and we were building a plan, and she said to me, Hey,
Ian Altman::I hope it's okay. I cheated, and I used AI to draft a plan, and
Ian Altman::it's pretty good. I'm just modifying it. And my response
Ian Altman::was, you didn't cheat. You intelligently use technology to
Ian Altman::save yourself time and learn from other people's experiences.
Ian Altman::So the question is, are you as transparent as Uber when it
Ian Altman::comes to pricing and location, so your customers know where
Ian Altman::things are at all times. Do you manage expectations as well as
Ian Altman::Amazon does when it comes to deliveries? When I'm receiving a
Ian Altman::package via Amazon, not only do I have a sense of when it's
Ian Altman::going to arrive, but once it's on in route to me via Amazon, I
Ian Altman::know that I'm four stops away. I can see where the vehicle is in
Ian Altman::my neighborhood, which is scary in and of itself, because it'll
Ian Altman::tell me it's six stops away and it's two streets over in our
Ian Altman::development, which just tells me how much business Amazon is
Ian Altman::doing in our community. It's not about competing with Amazon or
Ian Altman::competing with Uber, but instead, what you need to
Ian Altman::recognize is that your B to B customer is used to getting that
Ian Altman::live updated information every waking moment, from Uber, from
Ian Altman::Lyft, from Amazon, from all the vendors they deal with day to
Ian Altman::day. So when you don't implement similar systems that provide
Ian Altman::real time information when you don't use AI to make things
Ian Altman::faster and better for your customers. When you're not
Ian Altman::embracing this new technology, you can quickly become
Ian Altman::irrelevant, and all of a sudden, your customers will lose faith
Ian Altman::in your ability to execute, and some people will. Say to me,
Ian Altman::Well, you know, I don't think we're ready to do that. And the
Ian Altman::question I have for you is this, if you're thinking you're going
Ian Altman::to wait, what would happen if your competition beat you to it?
Ian Altman::And now the bigger question is, what if you beat them to it? So
Ian Altman::don't fall back on your old systems and don't say this the
Ian Altman::way we've always done it. What I want you to think about is,
Ian Altman::where can we make changes today that will actually improve our
Ian Altman::customers experience? Where might we use AI to help our
Ian Altman::customers get answers faster? In our same site selling Academy,
Ian Altman::we implemented recently, AI, something we call ask virtual
Ian Altman::Ian. So 24/7 our members can go into the system and ask
Ian Altman::pieces of content that we've loaded in and train an LLM, a
Ian Altman::large language model in AI to help provide answers to our
Ian Altman::customers. And you might say, well, Ian, doesn't that make you
Ian Altman::somewhat irrelevant to your customers? I guess to a certain
Ian Altman::degree it does. It could make it so they're less dependent on me
Ian Altman::personally, but what it means is that we get a sense of the
Ian Altman::questions are asking, which means I can tailor my content to
Ian Altman::their needs. They get answers quickly. We can also see if
Ian Altman::they're not getting answers that we think are the right answers,
Ian Altman::and we can tweak our model a little bit to create better
Ian Altman::information so that over time, it gets better as people use the
Ian Altman::system. It's the same thing you can do for your customers. So
Ian Altman::once again, what would happen if your competition got there
Ian Altman::first, and what kind of market opportunity could you seize if
Ian Altman::you got there before then, if there are topics you'd like me
Ian Altman::to address, just drop me a note to Ian at Ian altman.com see on
Ian Altman::the next episode of the same side selling podcast. So long
Ian Altman::Ian. Long.
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