Every broker has experienced it. You post a load and get back some outrageous quotes. Those carriers aren’t even in the same city, let alone the same ballpark. It’s a waste of time and energy for the carriers to send the quote and for the broker to check it and subsequently toss it in the metaphorical trash can. There’s a simple way to avoid that phenomenon with Parade. Simply set a Book Now price.
1. A Digital Price Anchors Carriers
There is plenty of stigma in the industry surrounding setting a price for carriers. The popular myth states that brokers might be able to get a better rate than the one they’d set. It’s based on a fear of losing out on margins, of paying more than they might absolutely have to pay. However, the data shows that it’s far more lucrative for brokers to set a fair Book Now price on loads than it is to hold out for a carrier that will run it for slightly less.
Setting a Book Now price anchors carriers, giving them a realistic idea of what the broker will pay for a load.
It’s important to remember that setting a Book Now price that works doesn’t involve low-balling carriers. For the digital price to work as intended, the price set should be fair for carriers. Otherwise, it’s easy for carriers to look right on by a load that’s not going to earn them any money.
2. It Communicates Expectations with Carriers
By setting a digital booking price, brokers are clearly communicating to carriers what they expect to pay for a load.
This clear communication helps brokers not only earn better margins and get loads booked faster, but also helps them build stronger carrier relationships. It lets carriers meet brokers where they’re at and interact on their own terms. If they’re a carrier who would do anything to stay off the phone, Book Now lets them do that. If they’re a carrier who gets their kicks negotiating with brokers, there’s room for that, too. Regardless, the booking process is streamlined on both sides of the equation.
3. It Saves Everyone Time and Energy
Imagine if carriers didn’t have to guess at the “right” rate to win a load. Imagine if brokers didn’t have to field crazy, off-the-wall quotes from carriers looking for a big payday on what even the carrier can admit is a shot in the dark.
Beyond the time saved by adding a Book Now rate, the Book Now feature saves all parties involved additional time in booking because so much of the process is automated.
4. It’s a Win-Win for Brokers and Carriers
A digital booking price allows carriers to go into negotiations with confidence. They already know what the broker’s ideal rate is, and they’re prepared to show the broker their ideal rate (and maybe even explain why the Book Now price won’t cut it for them).
On top of the time saved, adding a Book Now price to every load offers brokers the chance to save money. Even if the load doesn’t wind up being booked digitally, brokers can count on receiving better-quality quotes because carriers aren’t just spitballing.
On average, brokers improve quotes by 200 basis points when you have a Book Now rate on loads with a Book Now price.
Breaking Down Parade’s Book Now Feature
The Book Now process starts when a broker enables a load for digital booking and sets a Book Now price. From there, the load is sent to carriers wherever the broker chooses (targeted emails, customized load lists, their individual Parade load board, syndication services, the combination of possibilities is endless!).
Now, the load will appear to carriers as available for Book Now with a price attached to it. Because Parade shows carriers loads where they already work, so Book Now’s extended end-to-end digital booking experience allows them to find and book Book Now loads without stepping outside of their workflow. The carrier gets an upfront look at what the broker is thinking for the load, pricewise, and can decide based on that whether the load is a good fit for them. If that Book Now price is close to the rate they’d need to take the load, they can easily place a counter-quote that will be sent to the broker. If the rate works for the carrier, they can simply hit the Book Now button.
Once the load is booked, the broker will receive an immediate notification so they can send over rate confirmation to finalize the booking.
Would You Like to Add Book Now to Your Brokerage’s Toolbox?
Need a simple, straightforward way to save time and improve margins by an average of 2%? Parade can help with that and more. Reach out to the team at Parade to get a demo.