According to Armstrong & Associates, the freight brokerages (Domestic Transportation Management) earned an estimated $159b in gross revenues.
This is quite a change from 2019 when gross revenues clocked in at $86.5b for the entire industry.
It’s amazing to think gross revenues doubled for the industry during the pandemic years! We should see 2023 revenues fall back down to earth, but the key takeaway is that the industry will keep much of this expansion and move forward.
You can’t escape the Pareto Principle
The Pareto Principle, or the 80/20, rule dominates all systems. It’s a principle that was introduced by an economist, but pretty much covers any system in life.
In business it simply means that roughly 80% of revenues are produced by 20% of the largest companies. You can even take it further by analyzing the top 20% and dissecting this group to find 80% of those revenues are produced by the top 20% of the top 20%.
It’s fascinating, but difficult to explain in writing sometimes…
What’s important for the freight brokerage market though is that this principle is supercharged. The top 1,000 freight brokerages are about 5% of all the active entities make up 80% of the gross revenue in this now $159b market.
What does all this mean for you?
You better know your market.
If you’re selling into the freight brokerage market, then it means you better know your Ideal Customer Profile (ICP).
If you’re focused on brokerages with gross revenues above $50m, then you should know who’s who in that bucket. If you’re bread and butter is smaller brokerages with at least 10 employees, then calling one or two man shops is not going to get you to your revenue goals.
Unlimited Data Export Plan subscribers have access to TMS profiles, quick pay, and visibility software. Plus more brokerage details added daily!
As a reminder these are just some of the searches you can perform to find and close your next massive deal!
Keyword Search
Company Size
Job Title Level
Department
Tech stack for each freight brokerage including:
TMS, Visibility Tools, Quick Pay Terms and Vendor, Rates/Pricing Tools, Onboarding, and more!
You can start your prospecting now for free at www.brushpassresearch.com!
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