Expedite, a verb used for the acceleration of a process is often used in the shipping industry to describe freight that arrives ahead of standard delivery times. While this process is more expensive than standard shipping, the wait time is significantly reduced. This is a viable option in a number of instances, such as a medical facility needing emergency supplies or a factory needing parts for a critical machine to maintain operations. Additionally, there is no limit to the number of goods you order. This article will act as your guide to understanding expedited shipping as a freight forwarder by covering the following points:
• What are the Different Delivery Options?
• Benefits for Freight Forwarders Who Offer Expedited Shipping
• Should You Consider Offering Expedited Shipping as a Service?
What are the Different Delivery Options?
When purchasing a product online, usually a variety of delivery options will be available. Implementing different shipping options can make your services more attractive to a greater number of customers. Here are some of the most common delivery options:
Standard
This is the cheapest delivery service for all parties involved in the transaction. It usually takes at least 1-2 weeks for delivery, or even longer if you are shipping internationally. Many eCommerce retailers offer this service for free or will offer free shipping as an incentive to purchase a certain amount of goods.
Expedited
As mentioned above, this option guarantees that you will get your order much sooner than usual. The average shipping time can range from 1-3 days, several days fewer than standard delivery. Although costly, it’s very convenient in emergencies for customers.
Express
Most express deliveries arrive within 1-2 days or the following day for domestic shipments. If you see both expedited and express shipping options, express is usually the faster option, however, the cost will be even steeper.
Are There Any Benefits for Freight Forwarders Who Offer Expedited Shipping?
Forwarding agents that offer a selection of delivery services can benefit enormously. We are living in an era where you can get almost anything delivered to your door within an hour, which makes a 1-2 week delay seem too long for many consumers. People are more willing than ever to look for options to speed up the waiting process. Here are just a few ways of offering this service can attract new customers:
Competitive Advantage
Offering this service puts your company at the forefront of your industry. Many forwarders may only have one shipping option, so providing customers with a selection of delivery times makes your service more desirable among buyers.
Customer Loyalty
43% of revenue comes from repeat purchases. If your customers are satisfied with the delivery timing they are more likely to use your services. Customers always have a go-to place to purchase goods and services, if you offer delivery rates and follow-through, you can be that go-to place.
Tracking
Being able to trace your shipment wherever it is in the world is a huge advantage of using online services. Expedited shipping allows forwarders to trace deliveries on the go, making operations more seamless and consistent.
Should You Consider Offering Expedited Shipping as a Service?
Many people won’t consider using a service that doesn’t offer a variety of options to benefit them. However, despite the many advantages this solution provides, there are many aspects that must be considered before implementing expedited shipping into your operations.
Do You Have the Resources?
Your company must have the resources to successfully provide this service. Resources include capital, vehicles, and people. Speedy delivery services are far more expensive to operate so you must have the funding to pay for this, as well as appropriate transportation and people who are available to carry out the delivery. You cannot claim to offer a fast service if your company can’t deliver – you will earn a negative reputation.
Who Are Your Customers?
It is crucial, whether you are a freight forwarder or any other type of company, to identify your customers and their wants and needs. There are several types of customers that would expect quick shipments, including eCommerce, SMBs that need to distribute nationally or internationally, regional distributors, medical equipment suppliers, just to name a few. If any of your primary customers require goods to be shipped at a faster rate it may be a good idea to introduce this service before your customers turn to companies that do.
Who Are Your Competitors?
Your competition must also be thoroughly examined and considered to keep up with growing trends and staying relevant in the market. If your major competitors offer an array of delivery choices and you don’t then it’s essential to offer a similar service before your company gets eliminated from the market. Here are some tips on how to learn more about your competition.
Expedited shipping can benefit both freight forwarders and their customers. It is a service that can deliver products quickly to customers and increases the market range for the company. This is certainly an option that can open many new opportunities for the freight industry.
