Freight Marketplace
Freight marketplaces are a new way for carriers and shippers to find and post freight loads. Learn more about what these platforms are and how they compare to the popular load boards.
What’s a Freight Marketplace?
A freight marketplace is an online platform where shippers and freight brokers can post freight loads for individual and company carriers to find. Once the shipper selects a carrier, they can file the paperwork and complete the transaction on the platform.
Freight marketplaces are a relatively new model for acquiring loads; load boards are considered the industry standard for posting and bidding on loads. However, these platforms have already caught the eye of industry professionals because of their potential to streamline the entire shipping process.
What’s so special about freight marketplaces? Why are logistics companies turning to them instead of load boards, and will FreightCenter also turn to them? Let’s explore these marketplaces in-depth to find out more.
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Why Choose FreightCenter for Freight Shipping?
Expertise in Freight Shipping: With over 25 years in the logistics industry, FreightCenter is dedicated to guiding you through the entire logistics process, from beginning to end. Our goal is to make freight shipping easy to understand and book. Don’t waste time researching and receiving quotes from individual carriers- FreightCenter’s got your back!
Competitive Rates with Tailored Solutions: We prioritize high-quality customer service without breaking your wallet. We utilize our relationships with regional and national carriers to offer you competitive, affordable rates while providing personalized solutions to your needs. Need a liftgate? We got you! Want to expedite your order? Leave it to us! We’re ready to provide tailored solutions that don’t compromise your freight shipment.
Personalized Customer Support: FreightCenter is committed to satisfying our customers. Our friendly customer support team is here to help you every step of the way, from initial inquiries to post-shipment concerns. We handle all aspects of logistics, including tracking, paperwork, and communication with carriers, so you can focus on your business while we manage your shipment. Choose us for our reliable service and affordable quotes!
How a Freight Marketplace Works
Freight marketplaces function similarly to load boards and resemble other online marketplaces like Facebook Marketplace and Craigslist. However, some marketplaces are software-based and need to be downloaded for use. After installation, users must create an account and log in to the platform.
What users do after that depends on their role. Shippers and brokers can post their load and the initial rate. The platform’s team must evaluate the post before posting and will need to have as many details on the load as possible, including:
- Location
- Route
- Type of load being transported
- What equipment is needed
- Rates
Brokers and shippers can then view and accept a bid from the most appealing carrier. They can also search for individual carriers registered on the platform for targeted offers and view their previous track records for successful freight deliveries.
A freight marketplace verifies carriers and drivers before they can browse through bids. Once approved, they can search and filter various listings based on their criteria. Carriers can also compare offers in real-time, allowing them to adjust bids to differentiate themselves from others while also being able to save their preferences for future load searches.
Aside from posting, searching, and bidding on loads, users can also use freight marketplaces for other things:
- View user profiles, including location, route, available equipment, and travel preferences.
- Research data like average rates and use them during negotiations with one another.
- Track and update shipments throughout the delivery process.
- Analyze data from e-commerce metrics tools
- Set up payment transactions
- Manage fleets remotely
- File paperwork digitally
Benefits of Using a Freight Marketplace
Freight marketplaces are an excellent tool for drivers specializing in FTL shipments, especially independent owner-operators not affiliated with a major carrier. They consolidate the booking process into one software or platform, from initial load offers to final payment. Carriers can find quality, pre-screened loads, while shippers are provided quality service from professional, vetted drivers.
However, while freight marketplaces are a tremendous upcoming tool, load boards are still the predominant platform for finding and biding loads. While they don’t have as many features as the former, the latter are easier to understand, popular with drivers, and cheaper for beginner drivers.
That doesn’t mean freight marketplaces are a total waste of time and money. There are several reasons why drivers may decide to invest in a freight marketplace instead:
- Comprehensive system: These platforms are an all-in-one system for freight loads. Not only can you post and bid on loads, but you can also file paperwork, process payments, track shipments, and much more, all in one system.
- Easy-to-use: Freight marketplaces are designed to be user-friendly for all levels. They can be a little more complicated than load boards, but that’s because of the sheer number of features the platform offers.
- Accessibility: The platform is available to drivers 24/7, wherever they can access an internet connection. If the marketplace is on software, it usually can be downloaded onto computers, tablets, and smartphones.
- Less competition: Since these sites are relatively new, there aren’t many users online. Carriers and drivers tired of fighting for loads with others on load boards might find the lack of competition refreshing.
However, there are some drawbacks to using freight marketplaces:
- Fewer loads: Fewer carriers on the platform mean less competition, which also means fewer shippers are online. This results in fewer loads for carriers to find.
- Lack of long-term relationships: These marketplaces prioritize performance metrics and damage risk percentages over long-term relationships between carriers and shippers. This implies that neither side is obligated to work with the other after completing a transaction.
- Expensive subscription: Freight marketplaces can cost a lot, whether you pay monthly or annually. While that payment comes with many features, some users may find that they don’t need some features and that the core features they need can be found on the less expensive load boards.
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Trust the experts at FreightCenter to give you the best prices and the most comprehensive options for all your LTL freight shipping needs.
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Frequently Asked Questions about Freight Marketplaces
Q. What is a freight marketplace?
A freight marketplace is a digital platform where shippers and brokers can post their freight loads. Carriers and drivers can search for them, bid on their desired loads, and complete paperwork and payment with the shipper.
Q. What else can I do on a freight marketplace besides posting and bidding on loads?
Users can view profiles of carriers and drivers, including their success rate; analyze e-commerce metrics and review average rate fluctuations data; manage fleets; file and save paperwork; and make payments to carriers.
Q. What are the differences between a freight marketplace and a load board?
Load boards are the more popular and cost-effective way of posting and bidding loads. Both platforms are designed like other online marketplaces, performing the core functions. However, they don’t have all the features a freight marketplace has, including the ability to file paperwork and process payments.
Q. Why aren’t freight marketplaces not as popular as load boards?
Freight marketplaces are a newer model. While logistics always strives to find new, innovative ways to increase shipping efficiency, other areas have more difficulty adjusting to new technologies. Freight marketplaces also cost a little more than load boards, a significant barrier for some users. However, they could become a viable way of moving freight efficiently as long as the medium learns and improves itself.
3 Advantages of Freight Shipping with FreightCenter
25+ Years of Service
We have over 25 years of experience, as evidenced by our extensive network of professional carriers. Our knowledgeable team of shipping experts is ready to help you optimize your small business for the intricate world of logistics.
Customizable Shipping Options
Need a liftgate? No problem! Need to ship your products quickly? We've got you covered! Our FreightCenter agents can offer you tailored solutions for your specific shipping needs, no matter what kind of small business you are.
Friendly Customer Support
Our customer support team has the answers to many of your shipping questions and concerns. We’re here to help you through every step of the shipping process, from initial inquiries to post-shipment issues.