Once you’ve quoted a rate to a prospect, your job is not done yet. Quoting a rate is just step one. Step two is how you deal with your customer’s and carrier’s responses.There are many different reactions you’ll receive after quoting a rate to your prospect. No matter how competitive your price, you may hear some things like
Have you any room to negotiate?, or
That’s far too much.
On the other hand, you’ll hear comedic responses as well from carriers. Once, I quoted a rate of $400 to a carrier for a load that had to be shipped 450 miles. As soon as I gave him the rate, he said to his wife
Hey honey, we’re going to be able to take this load and retire! What a response!
If your carriers are still on the phone after you’ve quoted them a rate, then you may have time to build a relationship with them. Let’s look at how we can use this time to our advantage.
How To Respond When Carriers Question Your Pay
Carriers questioning your pay can be annoying when you don’t know how to deal with them effectively. This is when they may say things like
I’m not sure about that rate. There are two responses you’ll want to use:
- “I’m not familiar with this lane. For what rate would you do this load within reason?”
- “I’m just posting for a rate. For what rate would you do this load within reason?”
Why do we ask this question? To keep the carrier on the phone, and, we want to keep him/her talking to us. Whoever received the call has the power in this conversation.
What To Do When Prospects Reject Your Rates
As you know, you must always respond to rate requests. Doing so allows you to build the relationship further with your prospect. However, when you’re building that relationship, you’ll have prospects reject your rate.
The first thing to remember is that this is normal and natural, it’s a part of the freight game.
There are four reasons why a prospect will reject your rate:
- Your price is too high
- Your customer doesn’t know you yet
- Your customer doesn’t trust you yet
- Your customer prefers to use their current carriers
A trick to overcoming rate rejections is simple: give a compliment! Everyone loves to receive a compliment. When we receive a compliment, we feel liked, respected, validated, and, we hold the person who complimented us in higher regard even if the compliment was a small one.
Here’s a sample conversation you can use when your rate is rejected:
Another agent quoted me a rate of $200 below your rate…
[Part 1: compliment them]
That’s a great rate.
[Part 2: invite them to continue talking]
What else are you working on right now?
After they answer, ask this one last question if they haven’t done this for you already:
Can you please put me on your email freight list?
This way, even if you didn’t get that particular load, you still have the opportunity of winning this customer over in the future!