There’s undoubtedly plenty of profit to be made in a freight industry that’s set to be worth $4,457.4 billion by 2031. The problem is standing out in an overly crowded marketplace.
With so much competition, it can feel like your rivals are steaming ahead and winning new business while you’re struggling to retain and attract customers. It doesn’t need to be this way, and there are 7 effective ways you can scale your freight brokerage and make more money than ever before.
Read on to find out the secret to building your freight firm into a market-leading company.
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Value Your Current Customers
Your current customers are the lifeblood of your company, and they are also an incredible asset when it comes to scaling it further. It’s vital to show your clients that you value their business and that you’re willing to go above and beyond to meet their needs.
Ask what you can do to improve your interactions with them. This may include offering different communication methods. Or they might want to have a single point of contact within your office.
When your customers see that you are doing everything possible to deliver a first-rate service, they are more likely to stay with your company and give you future business. They will also be more likely to recommend you to other companies, giving you free referrals that you can use to make more profit.
Ask for Staff Feedback
Your employees are working hard every day, and they can offer valuable insights into your business. For example, they may notice there are small problems that often arise with certain carriers that you might not be aware of. This may be a minor issue, but it can slow your employees down if they’re having to deal with unnecessary problems.
Alternatively, they may feel they would be more productive if they had flexible working conditions. If this is something you can offer, it could help you build a happier and more efficient team.
Improve Your Online Presence
Before customers pick up the phone or send an email, they’ll check out your website. If it looks unprofessional, isn’t responsive, or just generally looks drab and dreary, the client will probably never get in touch.
However, if you have a beautifully designed, intuitive website that is easy to navigate, you can attract a huge number of new customers. If you’re ready to boost your online presence, you can view these EZ Freight Broker Trucking websites.
Add New Carriers
Your freight broker business needs to have a reliable network of carriers to ensure it can provide uninterrupted service. By bringing on new carriers, you give yourself more options when it comes to shipping your client’s goods as you’ll be able to cover more routes and plan for delays.
For example, should one carrier experience a staff shortage for whatever reason, you can reallocate the job to a different company. As these kinds of issues can come up unexpectedly, it’s best to be prepared and build your network now.
Monitor the Market
You never know when an opportunity that’s too good to miss might present itself. If you’re not monitoring the market, this could pass you by, and a rival could take advantage instead.
To ensure this doesn’t happen, make a point to regularly review what’s happening in the industry with your team. You may notice changes such as a rival freight brokerage company expanding into specific niches, and you might be able to follow their lead. By getting this information as quickly as possible, you could have the chance to expand rapidly and leave others trailing in your wake.
Increase Rates When Required
Like all companies, you won’t want to raise your prices unless you absolutely have to. There is always the fear you could lose customers and this means you may try to struggle on, making a small profit and staying afloat.
But if you’re to scale your freight brokerage, you need to adopt a growth mindset. This means charging for what your services are worth and finding customers who are willing to pay for a quality service.
If you have access to the best carriers, then you should be able to charge premium rates. Look at your costs and then increase your prices if necessary to deliver the standards that your clients expect.
Use Technology to Your Advantage
Technology has been changing the logistics industry for decades, and it shows no signs of slowing down. Whether it’s in the form of GPS tracking or AI-powered freight management software, you need to stay at the cutting edge.
This type of technology can make your company more efficient, allowing your team to get on with other tasks that will grow your company. If you can automate certain processes, you should do so if you’re serious about scaling rapidly.
Take Your Freight Brokerage to New Heights
Scaling a freight brokerage can be hard work, but it’ll be worth the effort when you begin to see lucrative rewards. The key is to ensure you place your customers at the heart of your business, and that you have a strong and flexible carrier network. Be willing to invest in your company’s growth, and use digital technology to streamline your processes.
Your freight brokerage could soon be one of the best-known names in the business!
We know you’ll want to start scaling your freight brokerage right away, but read more helpful hints and tips in our Business section before you go.
Alfred Williams, a distinguished business writer, navigates the corporate landscape with finesse. His articles offer invaluable insights into the dynamic world of business. Alfred's expertise shines, providing readers with a trustworthy guide through the complexities of modern commerce.
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