On this episode of The Road Forward, Alex, Flint, and Matt shared their thoughts on changing wages for truckers, unfit carriers, and eBOLs. We also got to interview Branden Cobb, an expert on company marketing strategies.
Trucking Wages Dropping
Today’s truck drivers can expect to earn about half of what they would have made in 1980, and these numbers are continuing to fall. Why the drastic decrease? A major reason is the constant churn of new fleets and owner-operators. With de-regulation making it easier than ever to join the trucking industry, not only are truckers’ wages decreasing but safety is being impacted negatively as well. Companies are forming and going out of business before having enough time to establish best practices for fleet safety or incentives for drivers. In reality, a healthy amount of competition in the industry is a good thing. This also begs the question: is it better for the government to decide who gets to be a carrier?
Read the full article here.
Unfit Motor Carriers
In the near future the FMCSA will begin efforts to identify unfit motor carriers and take them off the road. Reading between the lines suggests that the FMCSA doesn’t really have a handle on this issue despite the ELD mandate and HOS regulations. While carriers that are removed may have a harder time finding insurance in the future, there’s little stopping them from obtaining a new DOT number.
Read the full article here.
eBOLs and Blockchain
All trucking companies and owner-operators are familiar with BOLs (bill of lading) in paper format, but a company called CargoX is using blockchain technology to automate this process.
Could this change help the industry in the long run, and is electronic better? There’s no doubt that eBOLs would streamline operations, but whether or not people will adopt it is another question.
Read the full article here.
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Interview with Branden Cobb
Our guest on this episode of The Road Forward was Branden Cobb, owner of Branden Cobb Consulting. Branden shared some valuable marketing advice tailored towards fleet owners looking to grow their business. Here are some of his suggestions for how to market your business as a trucking company:
- Understand consumer pain points. What specific issues do your customers have that you can solve?
- Know what makes you stand out from your competitors, and use it to your advantage. Be aware of your statistics, and use these in marketing your business. You can even use creative verbiage to highlight key points.
- Generate trust with potential clients. Let them know what makes you dependable, and show that you are living up to your promises.
- Hire a local marketing rep to help you market your business. This would be someone who understands the market in your area and can help you tailor your approach.
- Keep clients coming back. One way to keep the customers you have while gaining more is to offer referral incentives.
- Explore new methods of marketing. Join trade associations, go to events relevant to your business, and cross-promote with other companies.
Even if you are a small fleet starting out, keep in mind that there are advantages to being a small company that your customers will appreciate. Good customer service in a timely manner is invaluable.
“Lean into the pros of working with a small business.”
–Branden
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