Becoming A Great Broker
What are the 3 steps of becoming a GREAT Broker?
Becoming a GREAT Prospector
Becoming a GREAT Salesperson
Stay Organized, Feed the Pipeline, Time Management, Utilize the tools efficiently and effectively
What are 3 TYPES of Objections?
1) Reflex
2) Brush Off
3) Hard Objection
If I feed my pipeline with Quality prospects and hit my Growth Goals, I will land and grow customers at the exact same time. As I am growing a customer I landed a few weeks ago, I should be closing new customers at the same time. The 30/60/90 day rule will take effect, and my customers will hit each mark at the same time.
Whiplash Effect
After delivering the rate to the prospect/customer on the phone, what must we get next?
FEEDBACK
What are the 3 Load Value Thresholds?
Fresh = 50K
Frozen: 75K
Dry: 100K
What are the 4 main elements we need to consider for a prospecting list?
AKA - "List-Building Theory"
1) Commodity
2) Location
3) Size / Revenue / Rating
4) Perspective (Buyer / Seller)
When HANDLING Objections, I need to:
1) Anchor
2) Disrupt
3) Ask
When referring to a CORE prospect, what is Understanding of the “Buying Window”?
I have an idea of when they are going to give me my first load. Usually, because I asked them when it will come.
What do we do if the rate we quoted is in line?
ASK FOR THE LOAD
At what amount over each of these (Reefer,Frozen,Dry Van) must we perform HLV protocol where the HLV team must approve before we send out pick up numbers?
Fresh: 100K
Frozen: 200K
Dry: 250K
Is it better to call on tight or loose areas? If we are targeting TIGHT areas, what is the angle? What about LOOSE?
TIGHT - more of a need for a broker to exist
Tight = Truck Capacity
Loose = Lowering Rates
When building a pitch, value-proposition, "Why I'm Calling" - there are 4 necessary points we need to include?
1) Who I Am
2) Why I'm Calling
3) Why It Matters
4) What I am Looking to Accomplish
Spoke with the DM
Added Value
Found out immediate or long term opportunity
This is an example of what type of prospect?
HOT Prospect
When putting together a quote, what are the 4 Things we need to do before asking our SM if they are OK with what we want to quote the customer/prospect? (these need to be in order)
1) SHOUT IT OUT!
2) JEARnet (RateMatrix, Lane Report, Locate A Load)
3) Online Tools (DAT / TruckStop)
4) Talk to Trucks
What are the 2 types of Drop trailer?
Live Load Drop Trailer
Cycle Drop Trailer
Why do 3PL Brokers exist? As in, what are the 4 main areas on how brokers can help customers?
1) Flexibility
2) Access
3) Risk Management
4) We are EXPERTS in the industry
What are the 5 areas that should be talked about when Selling the Dream?
1) Experience
2) Product Integrity
3) Communication
4) Market Insight
5) Pricing
Referring to the Weekly Growth Goals when in Fulltime Sales, we need to add: 25/7/2/1
25) Prospects
7) HOT Prospects
2) CORE Prospects
1) CUSTOMER
What are our 3 online sources (websites) for quoting?
1) JEARnet (RateMatrix, Lane Report, Locate A Load)
2) DAT - RateView, Posted Loads, Posted Trucks
3) TruckStop - RateMate, Posted Loads, Posted Trucks
A percentage of “contracted” freight given back to shippers in an area. A higher the percentage suggests a tight market.
Tender Rejection Index
What are the 3 main list building sources?
What does each one focus on?
BlueBook: Anything and everything PRODUCE.
Hoovers: All types of companies and commodities.
Panjiva: Imports and Exports to and from the USA.
What are the 7 main Hard Objections you will receive when Cold Calling?
FOB
No Additional Help
LTL
Don't Use Brokers
Have our own Trucks
Missed RFP / RFQ
We Handle Everything In House
How long Should it take for you to find out the full opportunity of a company in the sales Cycle
90 DAYS
What are the 3 Steps for quoting? (This is not the 4 things I need to do when gathering data for a rate)
Speed & Efficiency
Sell your rate ON THE PHONE
Get Specific Feedback
Transportation Management System (TMS) What are the ~5 main different features?
1) Tracking
2) Accounting
3) Scheduling Appointments
4) Bidding on Open Loads
5) Tendering Freight