For those who've followed our content, you're aware of my experience in both large and small freight brokerages. I've coached brokers across all sizes of organizations. The universal goal? Transforming prospects into valuable business assets. However, the approach can differ. Here, we delve into the unique challenges and opportunities of selling Third-Party Logistics services in large freight brokerages.
Why Big Box Brokerages Operate Differently
Big box freight brokerages have a unique framework for their salespeople. The sheer size of their sales staff, with numerous employees and customers, poses the initial challenge. Balancing competition with fairness is crucial. This balance is achieved through systematic prospecting and lead assignment.
Remember the early 2000s? Tales of disputes over prospect ownership were rampant. The challenge? Building trust and rapport. Often, the broker who made the timely call got the commission, leading to debates over lead ownership.
To streamline this, companies introduced formal prospecting systems. Brokers had a set time, say 45 or 90 days, to convert a lead. If unsuccessful, the lead returned to the pool, intensifying the competition.
4 Pro Tips for Success in Large Freight Brokerages
- Value Every Prospect: Even if a company doesn't require your services now, persistence pays off. In large brokerages, leads, especially seasonal ones, are gold. Own them diligently until they convert.
- Maintain Detailed Notes: Start with notes for prospect extensions, but make it a habit. Understand both the positives and the challenges. Knowing objections is the key to progression.
- Master the "Spray and Pray" Approach: It's tough but rewarding. Consider it your sales boot camp. The repetition hones your skills in communication, questioning, and active listening.
- Turn Challenges into Opportunities: Think differently. Learn from top brokers and identify industry gaps. Focus on niche areas and untapped opportunities rather than chasing the big fish.
Conclusion: Embrace the Sales Boot Camp
See the prospecting system as a learning curve, not a barrier. It's a fast track to mastering freight brokerage sales. Keep detailed CRM notes and avoid groupthink. In a vast brokerage landscape, be the one who spots unnoticed supply chain areas.
For more insights on thriving in the freight brokerage world, visit our website, Freight360.net. Dive into our Freight Broker Course - Freight Broker Basics and equip yourself with the knowledge to excel in the industry.