Negotiating rates can feel like a race that you can’t win. You’re consistently outbid by competitors for the freight that you need and end up moving freight on lanes that you don’t want. Yelling at the person on the other end of the phone or sending strongly worded emails doesn’t seem to help–you’re still coming in 2nd or 3rd in the rates race.
The amount of data out there can seem overwhelming, but when presented simply can alter the freight rate negotiating process, making it easier and more efficient than ever before. It has reduced the need for many carriers to negotiate over uncomfortable phone calls and in unorganized email threads.
Simply put, freight rate benchmarking compares the price you earn for moving cargo to what your competitors earn for a similar shipment. But, the current situation makes forward-looking benchmarking and budgeting rates more difficult than ever. You can’t look at your earnings from the previous year because of the volatility of the market so how are you supposed to improve your standing?
In our “Win the Rates Race” infographic below we’ve spliced and diced 2022 Loadsmart carrier data by who you are, where you are, and what type of freight you move. Continuing to do so and getting more specific to your preferred lanes will help you negotiate the best freight rates, get deep analysis and valuable insights, get more control over your earnings, and better deal with unforeseen events.
To talk more about the information below and freight rate benchmarking, schedule a demo with a product specialist today.