Today, there is a plethora of transport means around the world, the most dominant ones being rail and road transport, as well as ship and aviation transport.
The global transportation services industry consists of revenues generated from freight transportation. The transportation services industry is capital-intensive, and the demand is driven by macroeconomic trends in global imports and exports. Also, the intensity of competition varies depending on the specific sector; the road transport sector for instance, usually experiences the highest level of rivalry, while railways, as natural monopolies, experience less from direct competition. Furthermore, the global resumption of growth in merchandise trade is also likely to create more demand for transportation services.
However, several factors are expected to influence the growth of the transportation services industry in the coming years. Some of the factors include:
- Commoditization of carrier pricing: Commoditization in transportation services industry has a direct impact on whether a company dispatches its products or hires a third or a fourth party provider to do so. The transportation services industry, being heavily price-driven, results in consumers having a lower focus in distinguishing between companies’ services and products but will put more emphasis on buying the economical.
- Expanding use of technology tools: Today, many companies in the transportation services industry are reluctant to adopt innovative technologies. Moreover, digital technology innovation is sure to transform the current trends in the future. However, a slow conversion to technology may give other companies a competitive advantage which is digitally equipped.
Many such factors are compelling firms in the transportation services sector to leverage the use of market intelligence solutions. Market intelligence solutions help companies drive consistency, reliability, and responsiveness across business operations. Additionally, these solutions help companies enhance operational efficiency by identifying process gaps across the industry.
The Business Challenge
- The client: A leading transportation services provider
The client, a leading transportation services provider with operations spread across the globe, wanted their sales team to bring in new business. As a result, they wanted to identify the obstacles in their path and clearing their way forward. Additionally, the client wanted to gain insights on ways to improve their procedural efficiency and increase conversion rates.
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To assist the client, rationalize their sales process and select high potential targets, the market intelligence solution experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the transportation services sector. The experts also compiled information from reliable sources such as trade shows, paid industry databases, and company presentations to help the client achieve impressive returns.
The Solution Benefits and the Business Impact
The client was able to approach the right prospects, at the right time and in the right way with the help of Infiniti’s market intelligence solution. Additionally, the client’s sales team were also able to close deals with more valuable prospects in less time. This helped them achieved astonishing results in just 120 days.
The transportation services industry, like many others, is under pressure to improve cost efficiency. Moreover, today, digitization is cutting across all layers of society. Digitizing transportation services, if done well, can improve the efficiency, create better experiences for customers and ultimately increase the profitability of an integrated transport infrastructure.