When it comes to profits at a trucking company, it’s best not to put too many of your eggs in one basket with your customer base. The best way to safeguard your shipping profits is to have varied clients in many different fields or industries.
With these tips learn how to develop a diverse customer base to keep your company profitable and expanding for many years to come.
Don’t Get Comfortable
Is your trucking company becoming the poster child for a specific industry? Ask yourself if you have prioritized one company or industry unequal to the rest of your business. Maybe they are paying you more than the others. Don’t let this happen.
Avoid client concentration so you don’t get left out in the cold when your biggest client or industry goes down all at once. When you have multiple customers in varied industries you will be sure to protect your profits.
How to Build a Diverse Customer Base
You must continuously focus on business development to bring on new clients. As a rule, no one customer should be supporting more than 20% of your total business. Network constantly to slowly build a more diverse customer base. There are many tools online that can help you weigh out the benefit of each industry, even if you have little experience in that area.
It’s also important to maintain your current customers while seeking new ones. It’s like holding a hand of cards. As you take one more, you can put others down until you find the right combination of diversity and profits.
Once you have several leads to create a diverse customer base, do your research to project the best options for your trucking company. There are plenty of tools to use to decide on the best new customers. Choose clients that continuously need shipping orders for the best insurance of your earnings.
In conclusion, maintain a good balance as a trucking business and you will succeed in the long term. Not only will you educate yourself on several industries but you will increase your value.