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In a constantly changing market, it is essential to keep up to date. Being aware of freight market trends can help you grow your business and better serve your clients. Searching for market information can seem overwhelming, but these strategies can help make the process easy.
Stay Up to Date with Other Agents
As a freight agent, one of your best resources is the skill and expertise of other agents. Discussing the state of the market with others is a great way to compare experiences and learn how to adapt to current industry conditions. One of the benefits of networking is having others to use as a resource which can be especially helpful when keeping up to date with freight market trends. Checking in is a great way to strengthen your relationship with your connections and expand your knowledge. England Logistics holds an annual agent conference to help agents connect and learn, which is an excellent opportunity to make new connections in the industry.
Stay Up to Date on Market Data
Another way to keep up with industry trends is by looking at data and analysis from reputable sources. Resources like DAT, SONAR, FTR, and Truckstop.com provide the most recent information about loads, fuel prices, contract rates, the spot market, and more. England Logistics’ agents have access to these resources and market tools. Looking at the year-over-year conditions and reading an analysis of current conditions updated weekly can help you stay up to date. In addition to current market conditions, this information can help you to forecast future industry trends and better assist your clients.
Stay Up to Date with Recent News
It is essential to be aware of recent news in the transportation industry and other categories. Knowledge of the economy and weather can help your business by keeping you informed of economic factors influencing your clients as well as weather conditions like natural disasters or road hazards that can delay shipping times. A variety of information from multiple sources is always best when it comes to keeping up with the news. Make sure what you are reading is current and correct.
Stay Up to Date With Your Business Development Coach
England Logistics’ agents have a business development coach whose role is to help agents achieve their goals. This individual can provide coaching on sales techniques, creating a strategy, and prospecting for new clients. Access to an advisor is a significant advantage to growing a book of business and refining professional skills. The business development coach also uses their expertise to help their agents stay up to date on market trends. They meet with agents to give updates and answer questions, providing insight into the state of the market, recent data, and relevant news within the industry. Having an expert to coach you is a massive advantage in a volatile market.
Keeping track of rapidly changing freight market trends can be complicated, but with these resources, staying informed can be easy. From connecting with other agents to keeping up with the latest data, there are many ways to stay on top of current market information.