Running a successful shipping and forwarding business can be challenging, especially with the increasing competition in the industry.
Emerging technologies have significantly affected consumer behavior and expectations toward businesses. For example, customers demand products faster and are keen on the transparency they receive during order fulfillment.
Small and medium-sized shipping enterprises must improve their logistics solutions to optimize their last-mile deliveries, beat the growing competition, and retain clients' loyalty.
Read on to learn the booming technologies that can help your shipping and logistics business to optimize its efficiency and meet customer demands better.
Tips to boost sales for logistics business owners
Offer competitive pricing: One of the most effective ways to attract and retain customers is by offering competitive pricing. Monitor other logistics businesses to compare rates and adjust pricing to remain competitive.
Enhance customer service: Logistics businesses must also focus on customer service like any other industry. Customer service can make or break a business. Ensure that your staff is well-trained and responsive to customer needs. Be available to answer customer inquiries and complaints promptly.
Invest in technology to improve your business operations.
Use software to streamline your processes, including inventory management, order processing, and tracking.
Provide your customers with online tracking and delivery notifications to inform them about their shipments.
Rapid-growing technologies have boomed the on-demand economy and opened up opportunities for businesses to create seamless logistics processes. Today, it means integrating Artificial Intelligence (AI) to manage port operations or robotics to handle last-mile deliveries.
With several innovations, deciding which ones are worth your investment is essential.
Leverage Predictive Analytics: A study by the Council of Supply Chain Management Professionals (CSCMP) states: "93% of shippers and 98% of 3PL companies believe that data analytics is critical to making smarter decisions."
Logistics and Shipping business owners can optimize their operations by efficiently capturing and utilizing their customer's data. One way to do this is through predictive analysis — wherein you do not just react to customer activities but also predict and shape customer demands.
With accurate analytics, you can now predict your supply chain operational flow and recognize the demand-supply patterns. Tracking and analyzing critical pieces of data like weather or demand patterns can speed up your vessel calls and enhance port operations.
This process is not just time-efficient but also saves the added costs otherwise spent on dealing with unfavorable conditions.
Brush Up Your Online Presence with Digital Marketing: The global logistic market is estimated to reach USD 12,975.64 billion by 2027, witnessing a CAGR of 6.5% from 2020 to 2027. With the growing logistics industry and rapid digitization post-pandemic, digital marketing has become a crucial aspect of business growth.
Use digital marketing channels to promote and attract new customers.
Create a professional website, optimize it for search engines, and use social media to reach a wider audience.
Consider offering promotions and discounts to attract new customers.
78% of consumers conduct online research before any purchase. As an SME in the logistics sector, positioning your brand online boosts your community as it builds trust and attracts potential leads.
At Charlie Pesti, we help market your logistics business and reach a wider audience. Want to know more? Reach out to us here.
Build Automated Systems: In 2020, the Global Logistics Automation Market was worth USD 50.9 billion. This is expected to experience a CAGR of 12.4%, the highest of any supply chain market. These figures highlight the potential automation has in the shipping & forwarding industry. Integrating automated systems within your operations can be beneficial in two ways: tracking real-time performance to enhance freight systems and reducing overhead expenses. Many logistic companies also leverage blockchain to automate their systems and reduce paperwork, as these systems are more transparent and traceable.
Better Communication Through API Integration: If you are a logistics provider, you have engaged with an API in your TMS or CRMs used by shipping companies daily. This recently emerging technology connects different computers, programs, and software. The most significant benefit of integrating API within your logistics ecosystem is access to the entire network through a single channel. In addition, it simplifies your processes through automation, reducing errors and lessening the workload. APIs also enhance communication with your existing partners and increase the reach of new B2B clients across the globe.
Connect with 3PL Services To Amplify Risk Management: Lastly, you can opt for tie-ups with 3PL or third-party logistic services to improve the overall efficiency of your organization and reach your logistic goals. These collaborations can fill operational gaps and help you achieve a broader audience.
Expand your services: Consider expanding your logistics services to meet the changing needs of your customers. This could include offering new shipping options, such as expedited or same-day delivery, or additional logistics services, such as warehousing or fulfillment.
Focus on quality control: Ensure your shipping and forwarding processes are efficient and reliable. Implement quality control measures to minimize errors and delays and ensure your staff is appropriately trained to handle shipments.
Network and collaborate: Join industry associations and attend conferences and events to network with other professionals in the industry. In addition, collaborate with other businesses to offer complementary services and expand your customer base.
According to Forbes, 50% of organizations believe technological advancements strongly influence logistics, supply chain, and transportation operations and can help to increase sales in freight forwarding
In the present scenario of growing competition and rising customer demands in the logistics industry, leveraging these technologies is only wise to stay competitive — improving operational efficiency, thereby maximizing business outcomes.
At Charlie Pesti, we bring your logistics business to people. We help you with brand recognition, media engagement, generating sales leads, and brand building with our premium marketing solutions in the logistics domain.
Want to know more? Reach out to us here.