This week on the podcast, Brent sits down with Spencer Frazier, Executive Vice President of Sales and Marketing at JB Hunt. They discuss Spencer’s career journey from starting at JB Hunt 31 years ago to now leading sales and marketing. Spencer outlines JB Hunt's diverse suite of transportation and logistics services and the customer-centric methodology the company uses. He shares his vision for the future of digitally-enabled sales and how technologies like AI can enhance productivity. Listeners gain insight into how JB Hunt partners with customers to solve complex supply chain problems through data-driven solutions and a collaborative approach focused on efficiency and value creation.
From a competitive perspective, if we
Spencer Frazier:don't create value, someone else will. From a competitive
Spencer Frazier:perspective, if we're not the most efficient, someone is
Spencer Frazier:always trying to beat it. And then we know if we're creating
Spencer Frazier:that value, then our opportunity to continue to earn that
Spencer Frazier:business from that customer as their business grows.
Brent Williams:Welcome to the Be Epic podcast, brought to you
Brent Williams:by the Sam M. Walton College of Business at the University of
Brent Williams:Arkansas. I'm your host, Brent Williams. Together, we'll
Brent Williams:explore the dynamic landscape of business, and uncover the
Brent Williams:strategies, insights and stories that drive business today. Well,
Brent Williams:today, I have with me, Spencer Frazier. Spencer is Executive
Brent Williams:Vice President of Sales and Marketing at JB Hunt. Spencer,
Brent Williams:welcome, and thank you for being here today.
Spencer Frazier:Hey, Brent, thanks for having me on campus
Spencer Frazier:again. Love being here, being here with you. And looking
Spencer Frazier:forward to our conversation.
Brent Williams:Well, me too. And you've been a wonderful
Brent Williams:partner of the Walton College for many years, you personally.
Brent Williams:But even more broadly, JB Hunt, it's really been a special
Brent Williams:relationship.
Brent Williams:Well, I agree. Same, same for me. Well, you
Spencer Frazier:It has. Yeah. Yeah and it's something I think
Spencer Frazier:that has been unique for quite a while, we've got a lot of alumni
Spencer Frazier:know, you mentioned a couple of things that maybe I'll start
Spencer Frazier:in our organization, at all levels, and we look forward to
Spencer Frazier:continuing that pipeline of talent coming to join our team.
Spencer Frazier:But also just, you know, I didn't grow up here. I didn't
Spencer Frazier:graduate from the University of Arkansas. But it's really been
Spencer Frazier:an honor to be able to participate. And really learn
Spencer Frazier:alongside you on how we can help students and really help our
Spencer Frazier:organization continue to grow by making that connection stronger.
Spencer Frazier:So it's really been a privilege to be a part of it.
Spencer Frazier:with, well, first, you've been in this role of Executive Vice
Spencer Frazier:President leading Sales and Marketing for I think, right
Spencer Frazier:about a year at this point. But But you've been with JB Hunt for
Spencer Frazier:basically your entire career
Spencer Frazier:Pretty much.
Brent Williams:And maybe just start there with us just a
Brent Williams:little bit about your career journey. And then we'll kind of
Brent Williams:get into where you're at today.
Spencer Frazier:Yeah, you bet. Well, I started JB Hunt 31 years
Spencer Frazier:ago, a little more than that. Prior to that, I did go to Iowa
Spencer Frazier:State, grew up in Iowa, and went to the business college there
Spencer Frazier:and got my degree in transportation and logistics.
Spencer Frazier:And that kind of was interesting how all that came about. But
Spencer Frazier:going to the Career Center and looking at opportunities and
Spencer Frazier:different things. As I was trying to figure out what to do
Spencer Frazier:as a student. It really stood out as opportunities for high
Spencer Frazier:placement and also high salary. And so as the as a young student
Spencer Frazier:saying, okay, that looks pretty appealing. I don't know
Spencer Frazier:everything about it, but I'm going to try to figure it out
Spencer Frazier:and finished up at Iowa State in 1992. But I'll say this little
Spencer Frazier:did I know, I was destined for Arkansas. And I'd never been to
Spencer Frazier:Arkansas. But I had two job offers when I finished. One of
Spencer Frazier:them was Walmart. The other was JB Hunt. And they were three
Spencer Frazier:days apart.
Brent Williams:Really?
Spencer Frazier:JB Hunt was first. And as a young kid with a
Spencer Frazier:few student loans and things like that. I said yes,
Spencer Frazier:immediately. And, you know, Walmart called later and I said,
Spencer Frazier:well, sorry, I can't I can't do that. I've already accepted a
Spencer Frazier:job of JB Hunt. And so I was on my way to Arkansas, and got to
Spencer Frazier:start in the management training program. And that was an
Spencer Frazier:interesting thing at the time, that we got to rotate through
Spencer Frazier:all the departments in the organization, and learn the
Spencer Frazier:business because if you were working in billing, you would
Spencer Frazier:teach me that job for maybe a few days or a week. And then
Spencer Frazier:you'd go on vacation, and then I would do your job and try not to
Spencer Frazier:mess it up. By the time you got back. And so we got to go
Spencer Frazier:through all different parts of the organization even work in
Spencer Frazier:the shop and drive a truck, go through our driver training
Spencer Frazier:school, which was great. And then we got our first real job.
Spencer Frazier:My first real job was working night planning trucks, matching
Spencer Frazier:trucks and loads from 5pm to 6am. And that was Thursday,
Spencer Frazier:Friday, Saturday and Sunday.
Brent Williams:Wow.
Spencer Frazier:And so needless to say through that program, and
Spencer Frazier:I'll even say I'll put a plug in for anyone that works at night
Spencer Frazier:or anyone that has an opportunity to especially
Spencer Frazier:weekends. That's a fast track to learning.
Brent Williams:Absolutely.
Spencer Frazier:Because your resources are limited. And you
Spencer Frazier:have to rely on each other as a team. And you really have to
Spencer Frazier:kind of figure things out, but got to be in an operational role
Spencer Frazier:after that in both our truck line and then had the
Spencer Frazier:opportunity to go into intermodal, intermodal was still
Spencer Frazier:in its infancy, so to speak, we started that 1989. About around
Spencer Frazier:I think it was 94 ish, is when I got to start in intermodal,
Spencer Frazier:doing similar things, making sure that we were coordinating
Spencer Frazier:all of our shipments for our customers, meeting their
Spencer Frazier:expectations. And so operationally, and then I've had
Spencer Frazier:a few people say that maybe I'd be good in sales. I was
Spencer Frazier:interested in that. And talked to quite a few folks in the
Spencer Frazier:organization about it. And I had my first sales job in 1995. And
Spencer Frazier:had a territory and Ford Taurus and a bagged phone and Rand
Spencer Frazier:McNally Atlas, and worked on my pipeline and tried closing deals
Spencer Frazier:then. So that's kind of how everything started.
Brent Williams:How awesome. And so 31 years later, or I guess,
Brent Williams:30 years later, you entered into this role leading sales and
Brent Williams:marketing. And as you said, you've had quite a career in
Brent Williams:sales. But maybe tell us a little bit. I don't want to
Brent Williams:assume that, I know JB Hunt so well, that I can forget that,
Brent Williams:you know, maybe some of our listeners don't fully understand
Brent Williams:the scope of services, what your mission is. And then, you know,
Brent Williams:what are you focused on in this role?
Spencer Frazier:Yeah, well, the organization today, let's call
Spencer Frazier:it around a $14 billion organization, 35,000 people,
Spencer Frazier:around 24,000 of those are drivers. And then when you think
Spencer Frazier:about the services that we provide, think of supply chain
Spencer Frazier:solutions, transportation services, for the first mile of
Spencer Frazier:a supply chain could even be international, different things
Spencer Frazier:at the port, as well as kind of a middle mile things from
Spencer Frazier:production to distribution, intercompany shipments and then
Spencer Frazier:the final mile. And that's even from point of distribution all
Spencer Frazier:the way to your home, coming in and do an installation of
Spencer Frazier:equipment and home appliances, furniture, exercise equipment,
Spencer Frazier:big things like that.
Brent Williams:Yeah,
Spencer Frazier:Yeah so our business is set up with five
Spencer Frazier:business units.
Brent Williams:Okay.
Spencer Frazier:And I've had the privilege of working in four
Spencer Frazier:of the five, in operational and or sales and sales support
Spencer Frazier:roles. And so our history is of JB Hunt trucking, so our truck
Spencer Frazier:line as you would expect picking up shipments from kind of
Spencer Frazier:Chicago to Dallas or Atlanta to Philly or things like that,
Spencer Frazier:moving truckload shipments. That's one business unit. We
Spencer Frazier:also have, the biggest is our intermodal business unit. Very
Spencer Frazier:innovative when Mr. Hunt and Mike Haverty from the Santa Fe
Spencer Frazier:started that in 1989, a very unique relationship with the
Spencer Frazier:BNSF today, also our other railroad partners, the CSX,
Spencer Frazier:Norfolk Southern and others. And so that's our biggest business
Spencer Frazier:unit, significant opportunities to drive efficiency into the
Spencer Frazier:supply chain there. And then another strong and powerful and
Spencer Frazier:really fast growing business is our dedicated contract services.
Spencer Frazier:And that's more private fleet creation, private fleet
Spencer Frazier:management. And that's where the majority of our drivers are
Spencer Frazier:really doing hard, complicated work, hauling anything from feed
Spencer Frazier:to animals to retail distribution to food, delivery,
Spencer Frazier:and construction delivery and different things like that. And
Spencer Frazier:then our final mile services, which is the one where we're
Spencer Frazier:coming into your house, likely taken out your washer and dryer
Spencer Frazier:for maybe a major retailer that you'd purchase that from,
Spencer Frazier:integrated retail and point of delivery scheduling, operations,
Spencer Frazier:and then providing the installation and making sure
Spencer Frazier:that you have a good experience that represents that brand. And
Spencer Frazier:then our last one is ICS. And that's our logistics and
Spencer Frazier:brokerage business that really complements all of those, but on
Spencer Frazier:its own is something that can provide really any type of
Spencer Frazier:capacity for any type of shipment. And from a third party
Spencer Frazier:perspective, leverages our tech that we've invested into in a
Spencer Frazier:big, big way. So when you think of all those five business units
Spencer Frazier:and where we're at at, JB Hunt's a big organization, but
Spencer Frazier:relatively small related to the market that we play in. So say
Spencer Frazier:around 14 billion, we play in a $645 billion market, highly
Spencer Frazier:fragmented. But that presents a tremendous opportunity for us to
Spencer Frazier:execute our mission. And our mission is to create the most
Spencer Frazier:efficient transportation network in North America.
Brent Williams:Well, and you know, something you just said,
Brent Williams:is, is really one of the main things I want to talk about with
Brent Williams:you, you know, you said, you want to solve problems or, you
Brent Williams:know, for for your customers, and with all the different
Brent Williams:services that JB Hunt offers, you've got the ability to take a
Brent Williams:full suite of services to a customer, and help them solve
Brent Williams:their transportation, logistics, and supply chain problems. And,
Brent Williams:you know, but maybe I kind of wanted to narrow in on sales and
Brent Williams:your thought about sales. When I look at our students, and you
Brent Williams:know, the Walton College fairly well, you know, we'll have
Brent Williams:roughly this fall 8,000 undergraduate students and, you
Brent Williams:know, probably 600 or so, graduates.
Spencer Frazier:That's fantastic too.
Brent Williams:It's been wonderful growth. And it's been
Brent Williams:wonderful to see those students get great jobs and succeed, and
Brent Williams:that that's really why we're here. Many of them land in some
Brent Williams:sales oriented role, whether they intended to necessarily or
Brent Williams:not. And, you know, sometimes I think, I wonder if there's a
Brent Williams:understanding of what sales really is, you know, and I
Brent Williams:always see you start with the customer when you talk sales. So
Brent Williams:just wondering kind of your whole perspective on what sales
Brent Williams:actually is and how you go about it?
Spencer Frazier:Yeah, well, that's a big question. Yeah. But
Brent Williams:Yeah, that's right.
Spencer Frazier:Yeah. So I just believe in life, everyone's in
Spencer Frazier:I'll tell you this. I don't think people realize it. But
Spencer Frazier:everyone's in sales. Everyone is in sales. And even from a
Spencer Frazier:sales. And so sales, to me is something to where, again, you
Spencer Frazier:business perspective, or a personal perspective, everyone
Spencer Frazier:is in sales. And what I mean by that, whether, from when you're
Spencer Frazier:growing up to where you're at, as a student today, or in the
Spencer Frazier:professional workspace, all of us are doing things where we
Spencer Frazier:have to ask for something where we have to influence others, we
Spencer Frazier:have to make recommendations, we have to encourage, we have to
Spencer Frazier:solve problems. And to me, that encompasses sales. And so the
Spencer Frazier:the influence and the opportunity, and again, whether
Spencer Frazier:that's personally or with your family, and it goes up down and
Spencer Frazier:sideways to there's no hierarchical aspect to that.
Spencer Frazier:have the opportunity to think about who you're for, what
Spencer Frazier:you're trying to do to help, whether that's an individual or
Spencer Frazier:an organization, and then really trying to come up with the best
Spencer Frazier:ways to influence and solve. And then with that solution, you
Spencer Frazier:know, ask for business. And so I do believe that that's something
Spencer Frazier:that, you know, people might think of sales as, yeah, and put
Spencer Frazier:it into one functional little area.
Brent Williams:Yeah.
Spencer Frazier:But inside our organization today, I mean,
Spencer Frazier:there's people at this very moment, who are in a meeting,
Spencer Frazier:who are making a presentation that don't have a sales title,
Spencer Frazier:but they're making some recommendation, some suggestion,
Spencer Frazier:they're trying to get influence and understanding from the room
Spencer Frazier:that they're in and then collaborate to solve an issue or
Spencer Frazier:a problem.
Brent Williams:Well, I couldn't agree more with you. You are
Brent Williams:right, each of us no matter what our role is, what no matter what
Brent Williams:function we sit in, we are influencing on behalf of our
Brent Williams:organization, and often on behalf of our constituents, in
Brent Williams:my case, or customers in your case, and you said something
Brent Williams:that, that I think was very important, I don't remember
Brent Williams:exactly how you just said it, but it made me think about seek
Brent Williams:to understand first you know, and so as you you know, build
Brent Williams:and lead sales teams, you know, how do you as you're going in to
Brent Williams:help customers solve problems. What how do you go about that
Brent Williams:and how do you help people understand why it's so important
Brent Williams:to understand and listen first?
Spencer Frazier:Yeah, well, I'll I'll kind of dig into this
Brent Williams:Okay.
Spencer Frazier:And so CVD for short. And there's really five
Spencer Frazier:one a little bit more specific to JB Hunt. And so at JB Hunt,
Spencer Frazier:really the way that we talk about going to market, also the
Spencer Frazier:components of that. And you said, seek to understand, well
Spencer Frazier:way that from a sell side of solution design and an
Spencer Frazier:execution, we have a methodology that we call customer value delivery.
Spencer Frazier:understand is the very first part. And so I'll give you all
Spencer Frazier:five real quick. And then we can talk about different things. So
Spencer Frazier:the five components of CVD, and you can kind of think of this in
Spencer Frazier:a wheel, think of this as a continuous process. But we want
Spencer Frazier:to understand what the customer needs. We want to understand and
Spencer Frazier:collaborate with them strategically, then to deliver a
Spencer Frazier:solution that creates value for them. And then, after delivering
Spencer Frazier:that solution, we always want to measure it, what were their
Spencer Frazier:expectations? What were ours, what were the assumptions that
Spencer Frazier:we had built those expectations on? Are those assumptions true
Spencer Frazier:in reality? Are we hitting the performance that we needed to?
Spencer Frazier:So we want to understand, we want to deliver, we want to
Spencer Frazier:measure all the time. Data is so important. And then we want to
Spencer Frazier:have this regular cadence of communication. And that can be
Spencer Frazier:in the moment always, but also, regular cadence that just shares
Spencer Frazier:whether it's weekly business reviews, monthly, quarterly
Spencer Frazier:annual business reviews, and we bring in other stakeholders and
Spencer Frazier:decision makers that were a part of that, and share how we're
Spencer Frazier:doing together. So did we understand? Do we still
Spencer Frazier:understand are we delivering? Are we measuring appropriately,
Spencer Frazier:are we communicating in a regular fashion, and then we
Spencer Frazier:have this last part that's very, very important, is trying to
Spencer Frazier:anticipate what's next, anticipate what the other
Spencer Frazier:challenges might be or opportunities. And then you flip
Spencer Frazier:back into, okay, now we're in this deep understanding phase
Spencer Frazier:again. So you can think of that as a continuous flow of customer
Spencer Frazier:value delivery, but the customers in the center. And
Spencer Frazier:everything we do, we're trying to create value for that
Spencer Frazier:customer, for the individual to hit their objectives for the
Spencer Frazier:organization, and go back to our mission, if we're doing that in
Spencer Frazier:the most efficient way, then we feel like our value proposition
Spencer Frazier:is strong, or relationships can be very strong. And then the
Spencer Frazier:opportunity to continue with that client goes on so.
Brent Williams:Well, and you know, when we when we teach and
Brent Williams:talk about sales here, you know, one thing we're very focused on
Brent Williams:is how do we create value for others? You know, and I think
Brent Williams:you said, the customers at the center, you're always focused on
Brent Williams:creating value, just as you're thinking about, let's say, a
Brent Williams:student here, and you're explaining like, well, why would
Brent Williams:that be my focus of creating value for someone else rather
Brent Williams:than myself?
Spencer Frazier:Yeah, well, and I will say, okay, we are a
Spencer Frazier:business. In business, we do invest. To invest, we have to
Spencer Frazier:make money.
Brent Williams:Absolutely.
Spencer Frazier:Yeah. And we invest in really kind of three
Spencer Frazier:key areas, our people, our technology, and our capacity.
Spencer Frazier:But we do that, again, with the focus of being the most
Spencer Frazier:efficient that we can. And with that, we know if we create that
Spencer Frazier:value, then we're gonna grow. And so, to me, it's kind of all
Spencer Frazier:laced together in the fact that we have to if, from a
Spencer Frazier:competitive perspective, if we don't create value, someone else
Spencer Frazier:will. From a competitive perspective, if we're not the
Spencer Frazier:most efficient, someone is always trying to be.
Brent Williams:Yeah.
Spencer Frazier:And then we know, if we're creating that
Brent Williams:Yeah.
Brent Williams:value, then our opportunity to continue to earn that business
Brent Williams:from that customer as their business grows, to earn more of
Spencer Frazier:There's multiple services inside each
Spencer Frazier:their share of spend, to be able to solve and add different
Spencer Frazier:solutions, because I want to say this too, in that understand
Spencer Frazier:phase, I really don't care what a customer buys. Now, I said
Spencer Frazier:we've got five distinct business units.
Spencer Frazier:one of those. But we know if we understand the customer
Spencer Frazier:appropriately, we get synched up on the strategy that where we
Spencer Frazier:can add value. And we provide a great experience through that
Spencer Frazier:whole CVD process, then we know okay, our opportunity to
Spencer Frazier:continue to create new solutions with other services or other
Spencer Frazier:things over time, continues to be there. So that's really why
Spencer Frazier:that customer value is so important.
Brent Williams:That focus on customer, creating value for the
Brent Williams:customer ultimately means that that that value is going to
Brent Williams:accrue to you and the company in the long run.
Spencer Frazier:Yeah, yeah. And we know as well, then we can
Spencer Frazier:continue to invest in those things and continue to solve for
Spencer Frazier:more customers. And again, go back to that mission of the most
Spencer Frazier:efficient transportation network in North America, the more that
Spencer Frazier:we are able to connect, and really think about this, too.
Spencer Frazier:Yes, we're a big organization. But we have customers that might
Spencer Frazier:do one or two shipments a month, very small. So micro small
Spencer Frazier:businesses, medium, large, other strategic, so we kind of have
Spencer Frazier:the whole portfolio you have, and there's lots of opportunity
Spencer Frazier:to expand in that. And, and so, in that whole thought process of
Spencer Frazier:focusing on the customer, we want to really try to meet them
Spencer Frazier:where they are, and know regardless of size.
Brent Williams:And so customers are often in a very different
Brent Williams:place. You know, as, as we've talked before, you know, the
Brent Williams:supply chain, any customer supply chain, and then the
Brent Williams:overall web of supply chains, if you want to put it that way, is
Brent Williams:complicated, complex, and at times delicate, you know, in
Brent Williams:certain ways. And I feel like we saw that, or, you know, the
Brent Williams:public really probably saw that and became acutely aware of it
Brent Williams:during COVID. But, you know, that's still the case in certain
Brent Williams:ways. When you when you go to a customer, and helping them solve
Brent Williams:complicated problems, you have to bring a team with a pretty
Brent Williams:diverse set of background and expertise to the table along
Brent Williams:with probably that same type of team from the customer. How do
Brent Williams:you go about assembling the right sets of talent on your
Brent Williams:team to do that?
Spencer Frazier:Yeah, well, that's a, that's a really good
Spencer Frazier:question I do also want to talk about from a team perspective. I
Spencer Frazier:view every one is in sales. But another thing that we talk about
Spencer Frazier:is sales is a team sport. It is and so no one at JB Hunt has a
Spencer Frazier:monopoly on the best ideas all the time. No one. But
Spencer Frazier:collectively, and this is really where it kind of goes back to
Spencer Frazier:our culture. And really our culture of inclusion, our
Spencer Frazier:culture of really seeking out and making sure that every
Spencer Frazier:person at JB Hunt, you know, has a voice that we hear them. But
Spencer Frazier:going right to the customer, we know, on the sell side, we're
Spencer Frazier:sitting there, and we've got an opportunity to create a
Spencer Frazier:solution. And there are several that are pretty straightforward.
Spencer Frazier:And I might be the seller, and you might be in my pricing team.
Spencer Frazier:And I might work with you. And we say, okay, hey, we've got
Spencer Frazier:something that we think can create value for both
Spencer Frazier:organizations, I might bounce that off of our operations team
Spencer Frazier:just to get their nod on it. And then we present that back to the
Spencer Frazier:customer and see when we can start. But there are there are
Spencer Frazier:others that you know, every customer is different. And so we
Spencer Frazier:have a lot of opportunities in our organization from our
Spencer Frazier:engineering teams. And by the way, they are some of our best
Spencer Frazier:sellers. They don't have a sales title.
Brent Williams:Yeah.
Spencer Frazier:But really taking the opportunity to
Spencer Frazier:understand the customer's data, work with the customer to not
Spencer Frazier:just understand the data, but the realities of the operation.
Spencer Frazier:At the dock level, even at the order level. Those engineers do
Spencer Frazier:a wonderful job working with our sales team. And then when you
Spencer Frazier:think about the complex deals, you also want to bring your
Spencer Frazier:operations team along that's going to be executing on the
Spencer Frazier:customer's behalf to meet those expectations. And make sure
Spencer Frazier:we've got everything correct. And I'll say this. On the sales
Spencer Frazier:side, you know, you talk about one of the things you have to
Spencer Frazier:ask or do as a seller, you have to ask for the business.
Brent Williams:Yeah.
Spencer Frazier:So you have to close the deal. That's what
Spencer Frazier:people talk about. I'll say that our operations teams are our
Spencer Frazier:closers.
Brent Williams:Interesting.
Spencer Frazier:And so in those complex deals, I might share
Spencer Frazier:with you the customer. Hey, Brent, here's how we're going to
Spencer Frazier:execute on this business. This is what I heard from you. Here's
Spencer Frazier:kind of the data that we looked at, the strategy that we
Spencer Frazier:collaborated on, to put the solution on the table. But my
Spencer Frazier:operator sitting next to me is not going to say what we're
Spencer Frazier:going to do, they're going to say how we're going to do it and
Spencer Frazier:the instant credibility comes right there, from the customer
Spencer Frazier:that says, Okay, now I trust you, we will help our sellers
Spencer Frazier:try to navigate based on each individual opportunity, we are
Spencer Frazier:very solution focused. So it's very customized on each,
Spencer Frazier:wherever customer, wherever they are, and what they need. And we
Spencer Frazier:want to try to meet them where they're at, regardless of size.
Spencer Frazier:So we'll rally a big team like that. Or we could have something
Spencer Frazier:as simple that maybe in your spot in your business, you might
Spencer Frazier:have seen an email or some marketing from our team, and
Spencer Frazier:said, Oh, JB Hunt can do that. I need that today. And you might
Spencer Frazier:do a self service, sign up on JB Hunt 360, get a quote, and
Spencer Frazier:execute your shipment. And you might not talk to anyone.
Brent Williams:Yeah.
Spencer Frazier:Might not talk to anybody might not need a
Spencer Frazier:salesperson. But down the road, you might need some support,
Spencer Frazier:because you have a further question. And we'll meet you
Spencer Frazier:there too.
Brent Williams:You know, a couple of things that that you
Brent Williams:said, One, talking about investment technology made me
Brent Williams:think about the future of sales. You know, and I just wondered
Brent Williams:from your perspective, sitting in, you know, sitting in your
Brent Williams:role where you're, you're leading sales and marketing in
Brent Williams:JB Hunt, but you're seeing so many customers, you know, and
Brent Williams:what they're trying to accomplish strategically, and
Brent Williams:you're interacting with them. How do you see sales evolving in
Spencer Frazier:Yeah. Yeah, it's going to be a lot of fun.
Spencer Frazier:the future?
Spencer Frazier:So I do love sales. I love representing our company and our
Spencer Frazier:team. And when you think about in the past, say back when I
Spencer Frazier:first started, say the decade after that, even the decade
Spencer Frazier:after that, sales has always been very relational. Very
Spencer Frazier:one-on-one conversations, a lot of in person discussions, and
Spencer Frazier:really trying to come up with, again, what's that solution that
Spencer Frazier:can meet a customer's needs. But doing that, basically, in a
Spencer Frazier:very, kind of high touch way. I still believe that's going to be
Spencer Frazier:the case in the future.
Brent Williams:Okay.
Spencer Frazier:But I'm gonna say it this way, I think the
Spencer Frazier:future of sales is going to be both digital, and personal. So
Spencer Frazier:go back to that people you trust comment I made a minute ago.
Spencer Frazier:People buy from people that they trust, relationships are still
Spencer Frazier:very important. Now, can you do that sometimes in a very digital
Spencer Frazier:way? Absolutely too, you can. And so I think, as we're really
Spencer Frazier:looking around the corner into the next few years, we're
Spencer Frazier:already looking at our sales tech stack. And you know, today
Spencer Frazier:we're using Adobe, from a marketing perspective, content
Spencer Frazier:management, we're using Marketo, as part of helping us manage our
Spencer Frazier:content and contacts, and really helping us get in touch with new
Spencer Frazier:potential customers. All of that, in addition to another
Spencer Frazier:part of our tech zoom info, and trying to understand potential
Spencer Frazier:buyers and buyer intent. And then connecting all of that to
Spencer Frazier:our CRM, which is currently Microsoft Dynamics. And the
Spencer Frazier:opportunities inside the Microsoft platform. And in all
Spencer Frazier:of that, is to leverage the opportunity of AI generative AI
Spencer Frazier:language learning models, to automate and present things to
Spencer Frazier:our sellers in a way that makes them more insightful, more
Spencer Frazier:impactful, more efficient. So even going back to our mission,
Brent Williams:Yeah.
Spencer Frazier:And so I think the future is really where the
Spencer Frazier:automation comes in that digital side, but also, that AI becomes
Spencer Frazier:personal to me, the seller. And so the seller that can really
Spencer Frazier:embrace that, embrace that change and say, Okay, I want to
Spencer Frazier:be a part of making this better. I want to be a part of helping
Spencer Frazier:these models become more predictive, automated and
Spencer Frazier:efficient to help me focus my time that, okay, I've got all
Spencer Frazier:these things to do but based on where I'm at with this sales
Spencer Frazier:cycle and this client and this opportunity. This is the
Spencer Frazier:recommended task that I should do next. And then not only in
Spencer Frazier:that recommendation, serve up to me some of the content, some of
Spencer Frazier:the best ways to respond, that can really save me time and make
Spencer Frazier:me more efficient. And now I still have to personalize that.
Spencer Frazier:So that's where there's eyes on, there's hands on that, and then
Spencer Frazier:to personalize it, and then leverage that in my conversation
Spencer Frazier:with the customer, either online or in person. So I think the
Spencer Frazier:seller of the future is the one who's going to embrace that
Spencer Frazier:technology, to help them in their productivity, and also
Spencer Frazier:their customer responses, the solutions we create, and I think
Spencer Frazier:they'll be very, very successful. So it's really,
Spencer Frazier:really exciting about what's coming up.
Brent Williams:It is exciting to think about how technology
Brent Williams:like AI can improve productivity, and allow people,
Brent Williams:both for the seller and the buyer, to use their skills at a
Brent Williams:higher level than they ever could before. So I personally
Brent Williams:think that's maybe the most exciting thing about how
Brent Williams:technology is going to unlock the future. So I love I love
Brent Williams:your your point about the future of sales is still personal. And
Brent Williams:at the same time digital. You know, and as you were saying
Brent Williams:that it made me think about your customers. So I guess as, as the
Brent Williams:sales team, you have to help that customer get comfortable, I
Brent Williams:would assume but you also said contribute, contribute, and
Brent Williams:maybe maybe didn't use that word. But that's the way I took
Brent Williams:it was that they've got to be committed to helping make this
Brent Williams:process better as well.
Spencer Frazier:Yeah, I think that both from the way that we
Spencer Frazier:work on solutions with the customer. So we want to have
Spencer Frazier:data driven, insightful, but collaborative strategies that we
Spencer Frazier:work with them on. And so again, there might be a little bit
Spencer Frazier:different experience on kind of the maybe the smaller or other
Spencer Frazier:self serve type customers, we want to do that through our tech
Spencer Frazier:platform. We want to empower them to run their business in a
Spencer Frazier:way that maybe they can't today through insights and visibility,
Spencer Frazier:and access to information. But if you go back upstream to maybe
Spencer Frazier:some of the more complex or strategic relationships that we
Spencer Frazier:have, that's a very collaborative process to where
Spencer Frazier:we want to create a roadmap jointly with our customers, a
Spencer Frazier:mutually agreed to strategy that has goals and very high
Spencer Frazier:expectations. But if we achieve those expectations, the
Spencer Frazier:opportunity for us to achieve our goals together is pretty
Spencer Frazier:significant.
Brent Williams:Spencer, maybe kind of double click on data for
Brent Williams:just for just a moment. You and I have been working together for
Brent Williams:10 or 11 years. And I remember in early conversations, how
Brent Williams:important the sharing of data was a decade ago. And it seems
Brent Williams:like it's going to become maybe even more important in the
Brent Williams:future, if we're really going to leverage these technologies. Am
Brent Williams:I right? Or do you see that differently?
Spencer Frazier:No, I, you're 100%. Right. But from really the
Spencer Frazier:solution part, when you think about getting data that our
Spencer Frazier:customers have? Well, one of the things and you know, in this
Spencer Frazier:college, you really talk about the impact of forecasting and
Spencer Frazier:planning and, and how all that comes together and really trying
Spencer Frazier:to understand demand from a customer perspective. It's still
Spencer Frazier:really hard, right, especially over the last few years, and
Spencer Frazier:then the impacts of missing that by a little bit whether it's
Spencer Frazier:missing sales, or having too much inventory. Our customers
Spencer Frazier:have a hard, hard job. But trying to work with them to
Spencer Frazier:understand, okay, what can we settle in on from a data
Spencer Frazier:perspective that allows us to then look through and optimize
Spencer Frazier:for them the best combined solution and give them things to
Spencer Frazier:think about that? Maybe they haven't in the past? And one of
Spencer Frazier:the biggest ones goes back to leveraging data to see what can
Spencer Frazier:convert from the highway to intermodal in our world, and
Spencer Frazier:that's the most efficient, most cost effective, most
Spencer Frazier:sustainable, executing and really having 60% less of a
Spencer Frazier:carbon impact, moving it on the train versus on a truck. And so,
Spencer Frazier:a lot of customers we have to kind of talk through okay, well,
Spencer Frazier:did you know this opportunity exists? And even try to expand
Spencer Frazier:their thinking of maybe they are doing some of that business
Spencer Frazier:today. But our network is changing the way that our teams
Spencer Frazier:are executing with our railroads is changing. And we think we can
Spencer Frazier:expand their view of that market in a big, big way. So that takes
Spencer Frazier:a lot of data. And also takes then go from back to the
Spencer Frazier:personal, developing a lot of trust in our execution. Because
Spencer Frazier:there's been some challenges in that network in the past. But so
Spencer Frazier:whether you're talking about that type of conversion, or
Spencer Frazier:optimization of a fleet, that allows a customer to see, hey,
Spencer Frazier:we think we could run your fleet a little bit more efficiently,
Spencer Frazier:covering the same number of shipments with maybe a few less
Spencer Frazier:trucks, handling the variability of that challenge of forecasting
Spencer Frazier:a little bit differently than they do today. That creates a
Spencer Frazier:more efficient answer. So that's kind of how all that comes
Spencer Frazier:together on the front end, but data is so important, and then
Spencer Frazier:how we present that back, we want to give them the
Spencer Frazier:opportunity to visualize that solution.
Spencer Frazier:And then coming down the road is even their
Brent Williams:Okay.
Brent Williams:opportunity to maybe click the parts of that that makes sense
Brent Williams:for them today. Go back to the other part of data on execution.
Brent Williams:One of the best parts about a quarterly business review that
Brent Williams:we do is our customers continue to ask us today. Okay, well,
Brent Williams:what do we need to do to be better for JB Hunt? For your
Brent Williams:drivers? How can we help you become more efficient to help us
Brent Williams:become more efficient? Great questions. And one of the things
Brent Williams:that we do, talk about going digital and personal, is we take
Brent Williams:data that crowdsources the experience of drivers at our
Brent Williams:customers dock, okay. And we share the comments, we share the
Brent Williams:reviews. And so there could be all kinds of KPIs and high level
Brent Williams:service metrics and other things. But when you get down to
Brent Williams:how does someone feel when they come in and work with my team at
Brent Williams:my location? Customers are highly interested in that. That
Brent Williams:makes it personal. And they know again, still a people business.
Brent Williams:They want to make sure that they're doing the right things.
Brent Williams:They're rewarding people on their team. They're providing a
Brent Williams:great experience, and then coaching others that maybe
Brent Williams:aren't. And then there are economic impacts of both of
Brent Williams:those that we can share information to.
Brent Williams:Because there's certainly cost to serve
Brent Williams:implications on that I assume?
Spencer Frazier:That's exactly right. So again, as a seller,
Spencer Frazier:you can talk about the sales enablement part that I shared a
Spencer Frazier:little bit ago. But now you can talk about this buyer
Spencer Frazier:enablement, part of leveraging data, thinking about in solution
Spencer Frazier:creation, and really that design and delivery, and then going
Spencer Frazier:into that communication of the personal experience down the
Spencer Frazier:road. And again, as a seller, that's all part of our, our
Spencer Frazier:world, so.
Brent Williams:Well, digitally enabled sales of the future, or
Brent Williams:the growth of digitally enabled sales is is quite exciting. And
Brent Williams:isn't it fun to be in, in a role and field that is constantly
Brent Williams:changing? And where you have to learn and adapt every single
Brent Williams:day?
Spencer Frazier:Yeah, it really is. And I'll tell you, one of
Spencer Frazier:the best parts about our business is we can always be a
Spencer Frazier:student of business. And we get to work with so many different
Spencer Frazier:customers. And we get to see how they do their business, how they
Spencer Frazier:take care of their teams, what their focused on is, their
Spencer Frazier:mission, their priorities, and get to learn quite a bit of both
Spencer Frazier:from strategic all the way strategic planning down to day
Spencer Frazier:to day execution. And so it really is a lot of fun. And it's
Spencer Frazier:a great opportunity to just to continue to learn.
Brent Williams:Absolutely. You know, as, as we conclude, maybe
Brent Williams:just, you know, I've got 8000ish undergraduate students, and you
Brent Williams:speak regularly I know maybe even every single semester on
Brent Williams:our campus, about leadership. And so maybe a little bit about
Brent Williams:your style of leadership. And then when you're in the
Brent Williams:classroom, what what's the advice that you give that 21, 22
Brent Williams:year old, like really looking at, you know, what's my future
Brent Williams:gonna look like and how do I make my impact?
Spencer Frazier:That's a good question. I'll maybe use two
Spencer Frazier:words here, from a leadership perspective, you talk about my
Spencer Frazier:style. I don't know you'd have to ask people I work with, but
Spencer Frazier:something I've always tried to focus on is really how can I
Spencer Frazier:serve? How can I help? Even going all the way back to
Spencer Frazier:working nights or those first operational jobs, you know, we
Spencer Frazier:are a team, we are a family. How can we help each other? How can
Spencer Frazier:I help? Even if I don't know the answer? What can I do to learn
Spencer Frazier:it to try to figure that out? So really, how can I serve? And I'm
Spencer Frazier:still trying to do that today. It's a big responsibility in
Spencer Frazier:this role. We have a wonderful team and I just always want to
Spencer Frazier:serve them well. If you were talking about advice from a
Spencer Frazier:student perspective, and advice I wish I would have had when I
Spencer Frazier:was a student, is to really be present. And what I mean by
Spencer Frazier:that, each of us has an opportunity every single day,
Spencer Frazier:every single interaction, to be present. And in the classroom to
Spencer Frazier:be present. I feel like let's see, I was in the classroom,
Spencer Frazier:more focused on finishing the class, not as much focused on
Spencer Frazier:being present to get what I could from the class, to learn
Spencer Frazier:also to contribute where appropriate, but to really be
Spencer Frazier:engaged in the classroom. And I think every student and even me
Spencer Frazier:today, in every interaction, I know, if you can focus on being
Spencer Frazier:present, not having the phone not having in really engaging,
Spencer Frazier:listening, contributing. There's so much to learn. And there's so
Spencer Frazier:much to take from the experience and opportunities that they have
Spencer Frazier:today. And so my advice would just be present.
Brent Williams:Spencer, I see that is such wisdom. And today,
Brent Williams:it's really hard to do, right. There's so many distractions out
Brent Williams:there. But you know, whether it's what can you take out of
Brent Williams:the classroom or learn from whatever experience you're in,
Brent Williams:you know, I agree with that 100%. But also, I know, when I'm
Brent Williams:sitting across from you, you know, that you're going to be
Brent Williams:present and engaged with me. And that means a lot no matter what
Brent Williams:type of relationship that we have, whether it's a buyer
Brent Williams:seller relationship, or whether it's a collaborative
Brent Williams:partnership, like we have.
Spencer Frazier:Yeah, yeah, I agree. I think it all comes down
Spencer Frazier:to then, as connected to keeping things personal, building those
Spencer Frazier:relationships, demonstrating a sense of respect and caring for
Spencer Frazier:others. And I think that can just help all of us down the
Spencer Frazier:road.
Brent Williams:Well, thank you for the way you've partnered
Brent Williams:with us at the Walton College and the way JB Hunt has really
Brent Williams:partnered with the Walton College and University of
Brent Williams:Arkansas. It's certainly been a pleasure for me over the last 10
Brent Williams:years or so to work alongside you and I look forward to a lot
Brent Williams:more.
Spencer Frazier:Yeah, same here, Brent. I appreciate that
Spencer Frazier:and looking forward to it as well.
Brent Williams:Thanks for being here today. On behalf of the
Brent Williams:Walton College thank you for joining us for this captivating
Brent Williams:conversation. To stay connected and never miss an episode.,
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