May 21, 2020

Tips on How to Improve Freight Forwarding Business

Adam Robinson
Adam Robinson

All freight management companies continuously look for a way to improve profitability and safeguard against uncertainty. The only certainty in the market is uncertainty, and for freight forwarders, now is the time to find out how to improve freight forwarding business without a high investment cost. 

Meanwhile, new influences continue to affect the state of global trade, and companies need a viable, digital solution. According to Jason Shuttleworth of Forbes

“Technology continues its dramatic march toward the future. Politics change and shape globalization. International relations directly affect currency, economy, trading regulations, charges and access to product internationally daily. Our social and environmental awareness and communication needs to shift.” 

To maximize value and avoid unnecessary expenses, freight forwarders should follow these tips.

1. Stay Informed of Trade Policies and Societal Trends

Policies change frequently, and the standards for trade and customs’ costs can change on a dime. Freight forwarders must stay apprised of changes to global and domestic trade policies, as well as societal trends. Society is the engine that drives purchasing, so forwarders must respond appropriately to find out how to improve freight forwarding business.

2. Leverage a Digital Freight Forwarding Communications Platform

A digital freight forwarding communications platform further eliminates the risk of miscommunication and provides centralized storage of information to better manage freight. Furthermore, central communications offer the ability to connect with more potential shipments and work with more carriers to move freight more efficiently and quickly. 

3. Collect Data From Across All Carriers to Determine Current Rates at Any Time

Freight forwarders must also collect data from across all shipments. Obviously, carriers will not part with their internal insights, but if forwarders can leverage a single pane of glass to understand trends among carriers and shippers, they can build a better mousetrap for freight management. 

4. Set Realistic Expectations for Delivery of Quotes to Customers

Customers expect speed, and it is imperative forwarders to set clear, realistic expectations for the delivery of quotes. The easiest way to achieve this goal lies in leveraging an API to rate all shipments across all modes and send such data back to customers to speed to process and secure more bookings. In addition, clear, concise information within a dedicated system will alleviate the concerns of customers that wish to know “where is my freight” and “when will it get here?” Answering those two queries with automated responses will resolve much of the manual tasks of customer service for freight forwarders after securing bookings.

5. Keep Things Simple for Your Customers

Today’s supply chains are incredibly long and complex. Customers value forward-looking companies that keep information and capabilities simple. User-intuitive dashboards and easy-to-submit quoting processes will help companies figure out how to improve freight forwarding business. 

6. Encourage Customers to Share Their Experiences Via Social Media

Another option for finding out how to improve freight forwarding business rests with connecting with customers via social media. Customers love the interaction, and engagement provides a venue for hashing the details of complaints and even using past customers as personal advertisers via word-of-mouth networking. It’s the ultimate way to win and secure more bookings, opening the doors to stronger revenue streams and avoiding risk. 

Follow the Tips to Finally Answer How to Improve to Improve Freight Forwarding Business in Your Organization

For forwarders struggling with the question of how to improve freight forwarding business, the path to success must begin with understanding your operations and using knowledge to make the best decisions possible. Fortunately, the industry experts have dedicated their careers to building a more successful and efficient way of improving operations. Digital freight forwarding platforms that leverage technology is the solution and forwarders must continuously improve operational efficiency by applying the tips as well. Find out how your organization can get started by sending your questions to info@cargologik.com or requesting Beta access today.

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