It’s no exaggeration to say that freight and logistics keep the American economy moving. Air freight alone accounts for more than 60 million tons of goods every year. Trucking moves approximately 11 billion tons across the country, and freight railroads contribute another 1.7 billion tons.
But what keeps freight brokerage companies moving? One of the main factors of business success in this industry is customer retention. Here is why it matters for brokers and their clients.
Why is Customer Retention Important?
Business is business, correct? No, not correct. No matter the industry you’re in, people still like buying from people. This is especially important in sectors that rely heavily on trust – like freight and logistics. To build and grow a business like that, customer retention is vital.
Before we go into detail, let’s clarify what we mean by customer retention. The term refers to an organization’s ability to keep customers and turn them into repeat clients over time. Having a high customer retention rate means that a business is able to satisfy existing customers over time.
This ability has a direct impact on your company’s bottom line by minimizing costs and increasing profit margins. The math is simple: a business needs to invest more in acquiring new customers compared to what it costs to retain existing customers. Plus, happy existing customers tend to recommend the businesses they like, thus contributing to your acquisition rates.
How to Retain Customers
Building trust takes time. As a freight brokerage, we understand that it is not enough to offer your business an excellent deal once. It’s our responsibility to understand the nature of your business and its needs, to begin with. Next, we aim to do more than just fulfill your needs.
We pride ourselves on working closely with you and proactively offering you the best possible logistics and freight services for your business. As your business grows, so does ours. We believe in working hand-in-hand with your company and doing the right thing for each party.
Our approach is open, honest, and reliable. We understand that long-distance logistics can be difficult to organize and monitor, which is why we take transparency seriously, even if things don’t go to plan. Honor and integrity are among our key values. We apply this approach to all our clients, whether they are shippers, carriers, or agents.
How can freight businesses ensure that new customers become repeat clients? Aside from developing customer relationships that are built on trust and transparency, we believe in treating every one of our clients and business partners with respect.
In addition, we actively look for additional opportunities to work together more closely to our mutual benefit. Understanding how we can do more for each other will help all of us grow and continue to thrive.
Work with the Experts at Somerset Logistics
At Somerset Logistics, we have built our entire business on customer focus. We believe that by putting you first, we become a true partner you can rely on for all your transportation and shipping needs. Whether you need full truckload shipping, expedited freight, or intermodal freight transport, our team is happy to help you out. We also take care of oversize and overweight loads, and we offer flatbed shipping, too.
Put simply – no job is too large, too small, or too difficult. We’re here to build a lasting customer relationship with you and your team.
Talk to us today about getting started and letting our company help your company grow with high-quality, reliable shipping options.