How to price your DrayNow load
The intermodal freight market can generally be seen as stale, with customers posting orders with fixed prices that do not change. How is that a benefit to the customer if events in the market could warrant a change in price?
Imagine a farmer’s market on a Saturday morning, where each vendor is selling similar items but for different prices. The consumer is searching the space looking for the best bang for their buck. All of the pricing information is posted for them to see, so it’s all a matter of who’s offering the best prices. The market is going to determine what everyone is pricing their goods at, because every vendor wants to stay competitive. A price change may need to happen if a vendor’s product is sitting stagnant on the market.
“ If the order is taken immediately, this will reflect positively on the customer’s status in the marketplace. If the load sits there and even rolls over to the next day, it might be time to raise the price.”
Now try using this example and applying it to the DrayNow marketplace, where the driver is the consumer. Any carrier who has access to the platform can see how many miles a trip is and what rate is being charged. This means that when a customer posts, they receive instant feedback as to whether it’s a fair price or not. If the order is taken immediately, this will reflect positively on the customer’s status in the marketplace. If the load sits there and even rolls over to the next day, it might be time to raise the price.
Let’s be clear: the market is constantly changing and is always responding to changes in supply and demand. A load taken quickly one day might sit around at the same price the next day. This can result in rates going up or down based on the supply and demand at any given time. There’s always an opportunity to analyze load performance and adjust accordingly based on historical data. No need to worry about any constraints because the platform is built to give you that flexibility of changing rates as many times as possible in order to get it right.
Let’s also say that a load posted at a certain price point is consistently being taken quickly. This means it may be time to set up a lane on the platform. Creating a lane saves the information from previous posted loads so they all the customer needs to do is activate it. This can cut down on the time it takes to post, and drivers like to pick up lanes because of the consistency. Anyone can start this process in the DrayNow platform right where orders are started by choosing the lane feature.
Since loads are usually taken within 15 minutes by carriers, the DrayNow platform is also a valuable resource in case there’s ever a load that needs last minute coverage. Don’t put all of your eggs in one basket and rely on one carrier to cover your order. Use our platform to get access to many carriers in the area that are more than ready to haul.
Pricing can be a fickle practice, but it’s important to have all of the information needed on hand in order to make the best decisions. Traditionally, rates for dray are set months in advance, but with DrayNow a customer can constantly change prices to benefit their business and accurately reflect marketplace conditions.
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