Starting a trucking company has become one of the most ideal businesses across the globe, especially with the presence of hauling businesses and e-commerce. These industries are great sources of profit and growth because they require transportation and shipments that only trucking companies can provide. If you have started to operate your own company but still struggling from the competition, here are some tips to reach for success.
You have to be consistent in checking the fuel price. It has become a common mistake among truckers to go for the cheapest pump price. They assume that it is the cheapest way to get fuel. However, it is not true in all cases. Pump prices sometimes deceive consumers. This is something that well-established trucking companies, such as Titan Transline, have learned from.
It is important to know that all truckers are required to pay taxes in each state they drive along the way to their destination. The tax cost will depend on the amount of gallons used. In other states, the miles driven are also counted. As a result, truckers purchase fuel at the cheapest base price.
You have to lessen broker use. Once you acquire a load from a broker, a portion of your profit will be given away. It is better to get a load at a minimal price than do nothing if your change per mile is enough. Thus, load boards or brokers are ideal if you use them the right way. To be more effective, it is best to not be dependent on brokers and load boards. Instead, you have to establish good relationships with direct shippers. Through this approach, you can generate income in the industry much faster and more decently.
You need accounting software. Almost all successful trucking companies, including Titan Transline, have seen the importance of accounting software to their businesses. This software works well in managing revenue and expenses, which means you can lessen the stress of handling a company. In addition, it offers a base package for free. This is beneficial especially to new truckers who have only started in the industry.
According to Trustpilot report, the average UK consumer has wasted £63 on purchases resulting from unreliable reviews in 2019. In the UK, at least 90% of consumers look at reviews before making a purchasing decision. Respondents cite positive reviews as the key that drives purchases, second only to the reliability of the product or service.
In terms of trustworthiness, word-of-mouth recommendations from family and friends are ranked first while customer reviews are ranked second. However, Trustpilot report also reveals that consumers nowadays are aware of the prevalence of fake reviews. Consumers tend to make purchase decisions based on perceived authenticity instead of the perfect 5-star review.
Consumer attitude towards authenticity has become more sceptical. As a result, 62% of the respondents say that they prefer to buy from a company that has made a small mistake but responded quickly to address the concern. The same number of UK respondents admitted that they are not easily convinced by 5-star reviews. They prefer to make additional research on the brand before making a purchase decision.
Meanwhile, global ecommerce is expected to grow to a whopping $5.9 trillion by 2023. Digital wallet payments are becoming the standard norm for online shopping and daily in-store purchases. In 2019, at least 22% of transactions in brick and mortar stores were completed using mobile or digital wallets.
The fasted growing payment preference for the next 5 years will be the “buy now, pay later” scheme. This means that brands must offer this payment method and digital wallets to keep up with the competition. Currently, Europe, Middle East and Africa (EMEA region) are leading the way in “buy now, pay later” schemes with at least 5.8 % of all ecommerce purchases. It is interesting to note that North America trails behind at 1%; however, it is expected that North America will adopt the payment scheme over the coming years.
Consumers are not the only ones reading reviews; even job seekers consult review sites to get an idea on how companies treat their employees. One example is kingkong.com.au review that was posted by both current and former employees. They consider the digital agency as a great company with many opportunities for growth.
Businesses like hotels, hospitals, restaurants and shopping malls that interact with people always produce an overwhelming amount of waste that cannot be handled efficiently by trash collection systems. Some of the trash are big and heavy enough and requires the services of junk hauling Orange County that will treat your business with care and respect.
In order to streamline the flow of waste, Jaclyn McPhadden and Colin Bel came up with RecycleSmart, Canada’s largest manager of garbage and recycling services for businesses that uses technology to cut down environmental and financial costs. According to McPhaddedn, their goal is to reduce the rates of waste generation and divert it from the landfill.
According to Statistics Canada, there has been a steady decline in the amount of non-hazardous waste that is being disposed off in landfills. Roughly 60% of waste is generated by businesses and institutions. Back in 2000 when McPhadden was working at Victoria Inn, she was dismayed at the amount of garbage generated by the kitchen and housekeeping departments. Local haulers did not have a dedicated program in place to assess garbage volume and figure out efficient solutions.
RecycleSmart can track waste production of companies and organize trash collection on schedules that are customized according to need. RecycleSmart acts as the go-between to handle a business’ waste collection needs instead of holding separate contracts with pickup providers for various wastes that include paper, hazardous liquids and organic materials.
RecycleSmart offers one contract for one fee and serves as a broker for companies that buy waste for recycling for wholesale prices. RecycleSmart uses wireless sensors that are installed on garbage recycling containers and linked to a mobile network. The camera-enabled sensors can collect data several times a day so that RecycleSmart team will know what is happening. It is not a waste disposal operation but efficient technology in the fast growing Internet of Things environment.
Dealing with junk can take a business several days to complete. Fortunately, there is junk hauling Orange County that can do the task faster and more efficiently. With a professional hauling company onsite, employees are free to focus their attention on what they do best.
Technology has certainly changed the way that consumers access products and services. Before, a person has to physically visit a Bangkok hotel in Sukhumvit to book a room. Now, making reservations can be done from across the world with just a few clicks on the laptop or mobile phone. Half of the human race is literally using mobile technology.
Mobile technology has allowed people and businesses to connect easily. According to the International Finance Corporation, more than two billion low and middle-income individuals have access to mobile phones but they do not really use it for mobile banking. Digital technology is changing the way that people access financial services. Digital technology makes it easy and more cost effective for financial services to reach consumers.
In addition to reaching consumers more easily, digital technology helps in understanding the needs of consumers so that more tailored products can be offered at a cost they can afford. According to research made by World Health Organization, the biggest reason why people are reverting to poverty is the lack of insurance protection particularly for health and disability.
Thailand has a population of more than 70 million and insurance penetration remains low. Since market demand is increasing, Thailand’s Syn Mung Kong Insurance (SMK) is taking advantage of the opportunity by using technology to drive growth in the low customer base. SMK has shifted its focus to offering auto insurance online to generate customers who are new to the technology.
Demographics in emerging markets are currently changing. Emerging consumers are moving into the middle class who have increased purchasing power to be able to afford products and services. However, since companies have not targeted them, they remain under served. Given how large this demographic is, potential business volume is certainly significant. Through digital technology, reaching these consumers has never been easier.
There are many special offers for travellers who opt to book directly with Bangkok hotel in Sukhumvit website. If you will book 14 days in advance, you will enjoy 37% discount per night, free shuttle service to the BTS SkytrainPloenchit Station, discounts on food and drinks, spa treatments and laundry and in-room internet service.
Innovation has been far and few in the global freight market but this will soon come to an end because leading shipping companies are trying to create logistics platform running with block chain technology. This will benefit players such as white glove logistics and the consumers. With logistics solution provided by block chain, the efficiency of international shipping system will surely improve for the better. A number of projects involving block chain logistics are already being developed but there is no definite expectation as to how the logistics market will evolve.
In an industry estimate, as maximum of 20 per cent of all the fleets in the world that are carrying shipping containers can go off-grid at some point of the journey. As of now, there is no technology that is good enough to be use in tracking these shipping containers despite the fact that the number is quite high in the logistics system. This is only one of the many reasons why haulage infrastructure is suffering from inefficiency. Experts believe that the innovation provided by the block chain logistics can rectify this problem.
There are many top haulage companies that are currently developing logistics platforms with blockchain technology such as Maersk and IBM. The last time that an innovation as big as blockchain was developed was in the 60s when standardized shipping container was introduced. After the introduction, a uniform set of sizes was used in non-bulk haulage. This big change only impacted the forefront of the operation but the back office remains to be the same.
The role played by standardized containers in handling the physical goods will be the same role that block chain will have in the back office. Top shipping companies in the world has heard of the huge impact that block chain has therefore they are not missing this opportunity to create their own platforms.
FedEx is one of these companies developing their own system with blockchain as the foundation and white glove logistics might follow suit as the innovation gains more recognition. This system will make it possible for all customers and counterparties to have a centralized data center.
Brand awareness is considered very important for business entities no matter what industry they come from. While this may be so, many do not understand that organizations need to know how to measure brand awareness. Some are not aware that knowing your leads for the past month can help you come up with better marketing strategies to help you boost your sales.
Why are experts putting so much emphasis on brand awareness in the first place? A brand includes your logo and other distinguishing marks that people see on your business. This is essential as people can tie your product or services to your brand. And with a brand in place, it makes it easier for you to promote your business. When you introduce new products, brand awareness will allow people to recognize this easily because of your logo or brand, which means that you no longer need to win their trust all over again. Your brand could already speak for the new product or service. For a saturated market, a brand can distinguish your business from other competitors. In short, is you do not have a brand in place, people are more likely to forget about your business, including the things that you have to offer. Brand awareness helps you strengthen your position in the market, propelling your business to further success.
Measuring brand awareness is important because this will help you stop efforts that do not work, while at the same time, pursue those that give you more leads. You can also rework these if needed, and instead of stopping these altogether, you may implement some changes based on the metrics of the marketing tool.
How to measure brand awareness? This would be different depending on the method used. For example, Facebook will let you see the number of engagements on posts. Advertising campaigns in this particular social media website will let you see conversions, web clicks, likes, and shares. When you have a website, Google Analytics will give you an idea if this is popular or not based on the number of visits. This tool will let you see clicks on pages, giving you an idea which products on your website people are checking out. Customer surveys will let you know if your business is viewed positively by people. If you do not have people responding to the surveys, it’s just an indication that you need to work on brand awareness.
Investing in brand awareness will always do your business good. Knowing how to measure brand awareness is even better because it helps you come up with better marketing solutions to increase brand recall.