Key Takeaways from the Trucking for Millennials Podcast Episode with Matt Perkins

In the latest episode of the Trucking for Millennials podcast, host Michael Clements sits down with Matt Perkins, a seasoned professional in the logistics and sales industry. The conversation covers a wide range of topics, from the current state of freight rates to the impact of the upcoming election on the trucking industry. Here are three key takeaways from this insightful episode.

1. The Volatility of Freight Rates and Market Dynamics

One of the primary topics discussed in this episode is the volatility of freight rates and the unpredictable nature of the market. Matt Perkins shares his extensive experience navigating through multiple freight recessions and highlights how the market has evolved over the years.

"The market has shifted. Well, it has been shifted since, what, 22? It's become rather depressed, if you ask me. And just navigating these waters. This is my third major freight recession." - Matt Perkins

Perkins explains that the market used to be more predictable, with pricing following a wave-like pattern. However, in recent years, the market has become more erratic, with sudden spikes and drops in rates. This unpredictability makes it challenging for brokers and trucking companies to plan and strategize effectively.

Key Points:

• The market has become more volatile and less predictable.

• Freight rates are influenced by a variety of factors, including seasonal changes and market saturation.

• Both brokers and trucking companies need to be agile and adaptable to navigate these fluctuations.

2. The Importance of Relationships and Customer Service

Another significant takeaway from the episode is the critical role that relationships and customer service play in the logistics industry. Perkins emphasizes that building and maintaining strong relationships with both customers and carriers is essential for long-term success.

"Consistency. I mean, that's if I was to say it in one word and I can, I can, I've got proof in the last 24 hours, there was a gentleman I met a year ago and he finally responded to an email and. I mean, all it said was, Hal, I'll think about you next time I've got a shipment." - Matt Perkins

Perkins shares anecdotes about how consistent follow-up and genuine care for customers can lead to lasting business relationships. He also highlights the importance of understanding the needs and challenges of both shippers and carriers to provide exceptional service.

Key Points:

• Building strong relationships with customers and carriers is crucial.

• Consistent follow-up and genuine care can lead to long-term business relationships.

• Understanding the needs and challenges of both shippers and carriers is essential for providing exceptional service.

3. The Role of Technology and Training in Modern Brokerage

The episode also delves into the role of technology and training in the modern brokerage landscape. Perkins discusses how advancements in technology have leveled the playing field, allowing smaller brokerages to compete with industry giants.

"Technology has really helped people like you and me become Uber competitive with the Ubers and the CH Robinsons, right? Because, I mean, there was even an article a couple of months ago on FreightWaves that flat out said, CH Robinson might've like jumped the shark with technology because they were the cutting edge technology." - Matt Perkins

Perkins points out that while technology is a valuable tool, effective training is equally important. He stresses the need for comprehensive training programs that equip brokers with the skills and knowledge they need to succeed in a competitive market.

Key Points:

• Advancements in technology have leveled the playing field for smaller brokerages.

• Effective training programs are essential for equipping brokers with the necessary skills and knowledge.

• Technology and training together can help brokerages provide better service and stay competitive.

Conclusion

This episode of the Trucking for Millennials podcast offers valuable insights into the current state of the logistics industry. From the volatility of freight rates to the importance of relationships and the role of technology, Matt Perkins provides a wealth of knowledge and experience. Whether you're a seasoned professional or new to the industry, these key takeaways can help you navigate the complexities of the logistics market and position your business for success.