Parade’s Post

Quick Thursday Sales Call update!!! Met with a customer this afternoon who told me, “ our 3rd largest customer is very upset with damages and late deliveries with Carrier A”. My reply” what is your plan”? Customer states he is going to the next cheapest carrier to see if they can perform better. Please keep in mind, this is a 3PL user off of the Web and has never met with the next cheaper carrier. I kindly said, “ That isn’t a plan”. I then asked, “What is your customer worth”? The conversation finally moved to the impact of them losing this customer and an actual plan to solve the problem. I know the economy is struggling and times are tight, but truly understanding our our award winning service can solve this customer’s issue is the “Plan” to saving this customer. The value you receive from your carrier must match the value your customer is expecting. If they don’t match, you will be in Jeopardy of losing a large and valued customer. Let’s NOT get blinded by the cheapest rate. Being competitive is essential, being the cheapest “isn’t a plan”!

I've been talking with account teams at carriers all week who process hundreds of spot opportunities. Of course, they go from one TMS system to the next looking for the right load. Or, they comb through the countless emails that get sent their way. It's hard to get untethered from the constant monitoring and focus on building relationships with your accounts. Typically when we introduce Manifold Freight the first bit of feedback we get is, "oh, this saves us a lot of time in managing all the TMS's and emails". Then quickly following, the sales manager in me comes out immediately and I reply, "yeah, so you can get back to managing your customer". As I talk with carriers and brokers alike I realize so much time is wasted not doing the most important things.

Compromise is a powerful tool for shippers, carriers ,and freight brokers to use to create a win-win situation for the parties involved.. Compromise can be a highly effective sales strategy for several reasons: 1. Building Trust and Relationships Mutual Respect: When both parties are willing to compromise, it shows mutual respect and a willingness to understand each other’s needs and constraints. Long-Term Relationships: Compromise fosters long-term relationships by creating a foundation of trust and cooperation. 2. Customer Satisfaction Meeting Needs: By compromising, you can better meet the specific needs and preferences of your customers, leading to higher satisfaction. Positive Experience: Customers appreciate when their concerns are acknowledged and addressed, which enhances their overall experience. 3. Closing Deals Overcoming Objections: Compromise can help overcome objections and barriers to closing a deal. It shows flexibility and a willingness to find a middle ground. Win-Win Solutions: Finding a compromise often results in a win-win situation, where both parties feel they have gained something valuable. 4. Adaptability and Flexibility Tailored Solutions: Compromise allows for tailored solutions that can adapt to changing circumstances and unique customer requirements. Competitive Edge: Being flexible and willing to compromise can give you a competitive edge in the market, as customers are more likely to choose a provider who is responsive to their needs. 5. Conflict Resolution Reducing Tension: Compromise helps in reducing tension and resolving conflicts that may arise during negotiations. Maintaining Professionalism: It ensures that negotiations remain professional and constructive, even when disagreements occur. 6. Enhanced Reputation Positive Word-of-Mouth: Satisfied customers who feel their needs were met through compromise are more likely to recommend your services to others. Brand Loyalty: Compromise can enhance brand loyalty, as customers are more likely to return to a business that values their input and works collaboratively. 7. Innovation and Creativity Creative Solutions: Compromise often requires thinking outside the box to find creative solutions that satisfy both parties. Continuous Improvement: It encourages continuous improvement and innovation by constantly seeking better ways to meet customer needs. By incorporating compromise into your sales strategy, you can build stronger relationships, close more deals, and create a positive reputation for your business. #trucking #logistics #sales

Negotiate the Value Iceberg, not the invoice price. Sales teams are often confronted with having to match a lower-priced competitor. Sometimes, these competitors attempt to "buy the business" by offering prices 10, 20, 30, and sometimes 50% below your price. You will be out of business if you try to match or beat these prices. The majority of B2B manufacturing companies have gross margins of 30-40% and EBIT margins of 3-10%. There is virtually no room to offer excessive discounts, and your competitors have similar business model economics.  How do you negotiate a price with a customer faced with these challenges? Your #1 strategy should be customer value education. Your customer will only accept a higher price if you can provide in-depth substantiation of the value obtained from your supply of products and/or services.   Q. When is the right time to be educating customers on value? A. Ideally, before they know they need or want your product or service. Owning customer value conversations before the customer has even entered the buyer's journey/funnel creates a position of trust, leadership, and respect. These three factors are crucial to protecting prices and increasing sales conversation rates. Identifying the elements of customer value that are often overlooked, hidden or poorly understood is the secret to guiding the customer value conversation.  The invoice price is often just 30% of the service experience or product ownership cost. The hidden costs of operations, repair /maintenance/replacement/upgrade or the unexpected costs associated with risk events are all "prices" that a prospect must consider if they are a fully informed buyer. Traditional sales and negotiation training attempts to focus on handling objections, offering concessions and closing deals - all of which result in some form of tactical price discount, free product or service concession, resulting in margin erosion.  Do you have the value iceberg mapped for your products or services? To learn more about how to implement the value iceberg approach to your sales and negotiation capability, please get in touch via www.pricinginsight.com.au  #negotiation #customervalue #customercontract

Never stop prospecting. This gets talked about a lot with respect to customer sales, but it’s just as applicable on the carrier side. Carrier reps often get comfortable, sticking with the same group of core carriers to service freight. But… What happens if your company picks up new lanes that your carriers don’t service? What happens if some of your carriers go out of business? (I’ve heard that’s a thing that happens) What happens if you move to a new brokerage with a completely different freight mix? You need an evolving group of carriers that continues to support your business. #freight #3pl #transportation

In times like these, customer retention and expansion can be just as much of a growth lever for freight brokerages as new sales. One key lever in expansion is growing your lane portfolio. Here’s how to identify those lucrative lanes: 📊 Market Analysis: Utilize real-time industry data, research which trends emerge annually, and follow me for monthly updates on freight trends and popular lanes. 🚚 Volume vs. Capacity: Determine which lanes have a disparity between freight volumes and available carrier capacity, indicating a high-demand market. Trucker Tools carrier sourcing heatmaps can be a guiding hand. 🤝 Strategic Alignment: Align your service offerings with the lanes that best fit your shipper customers' needs. Ask them what they're up to! 🔁 Feedback Loop: Engage with your customers regularly to gather insights and adapt to changing market conditions. Stay ahead by focusing on data-driven decisions to maximize your brokerage’s efficiency and growth. 👇 Interested in how data can guide your carrier selection decisions? Comment "Carrier Sourcing" for more information.

Freight sales teams are able to capture and search your prospect's lanes in Salesdash. We've added new fields, with the most important being volume. Law of averages says you will lose more prospect quotes than win. If this information is in a text note, you will have no ability to search and find this data in the future. With the Lanes page in Salesdash, you can sort and keep a better eye on lanes with reasonable volume that are unrealized revenue.

Not all leads are created equal in freight sales. If you want to maximize your sales efforts, you need to qualify your leads. Here's what separates promising prospects from the rest: ➡️ Ideal Customer Profile (ICP): Does their industry, size, and location align with your sweet spot? ➡️ Decision Maker: Are you reaching the person with the buying power? ➡️ Budget Match: Can they afford the value you bring? ➡️ Long-Term Potential: Is there room for a lasting partnership? ➡️ Engagement Level: Are they actively seeking solutions? By asking the right questions upfront, you can prioritize leads with the highest conversion potential. Don’t know where to begin? Start by reading our guide: https://lnkd.in/dh4w_hTb #freightbroker #freightsales #logistics #leadgeneration

Increase customer retention and overall profitability by making yourself more valuable as a freight broker. FACT: The more lanes you do for a shipper, the more likely you are to retain their business!