Webinar Recap: How a Variety of Carriers Use DrayNow to Make Better Business Decisions
For this webinar, Tom Ryan and Artie Maull came together to cohost this presentation. Focused on data, they introduced the DrayNow Intermodal Spot Rate Tracker, discussed trends happening within intermodal freight and explained how carriers can use the DrayNow app to find the right freight for their business.
Most of the freight carriers are going to see on the DrayNow app is spot freight, which is usually non-contractual freight posted to the marketplace that’s a new opportunity for carriers to take. With the new Intermodal Spot Rate Tracker, we’re helping carriers keep track of current trends in the spot market so that they can make the best decisions. The tracker is completely unique to intermodal and is an aggregation of all spot data from the DrayNow platform, week-to-week.
How are carriers using this data? Since it’s a barometer of what’s currently going on in the marketplace, carriers use this spot data to decide whether they’re going to pick up freight now or later. For example, if rates are trending up it may be beneficial to wait and see if rates for future freight will rise as well. If rates are trending down and you’re seeing freight above the average, your best bet is to take it sooner rather than later.
Going further off of this point, it’s important to know where some of the long-term trends are heading so that carriers can prepare. Tom takes the time to discuss the market, and he’s predicting very strong demand through the holiday season and into the first quarter. This most likely means that spot rates will increase as well.
Artie, our Recruitment & Engagement Specialist, does a fantastic job going over the typical DrayNow user profile as well as how taking intermodal loads and using the tools available through DrayNow can make their business more lucrative. The characteristics of a DrayNow user vary, with some carriers using the freight to fill gaps in their schedules while others are logging in and up multiple trips on a daily basis. Carriers can be successful in either scenario, which makes our app a valuable tool in their toolbelts.
With intermodal freight, it’s essential to know the difference between your gross income and net income. Since the loads are shorter in mileage, you may not be making as much money per load as over-the-road, but the actual revenue you’re netting is greater since there are less expenses, such as repairs and fuel costs. Most importantly, time is money, and the transparency with trip details on our app make it easy to find the right freight.
We always want to be sure that carriers using DrayNow are getting the best experience and utilizing the app to make the best decisions. Be sure to check out the Intermodal Spot Rate Tracker, get in touch with Artie at firstname.lastname@example.org and use our carrier blog as resources. And as always, make sure to constantly check the DrayNow app to find the right freight!
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