Overview
Quoting freight without ready access to your win rate and margin numbers can be a haphazard process. Tribal knowledge and experience are invaluable assets, but adding hard numbers and clear analytics to your resources can provide you with invaluable insights. Greenscreens Ignite, a new paid add-on, puts that data right up front, so you can design the best possible pricing strategy for your brokerage.
Greenscreens Ignite is a pricing analytics tool that presents your quoting data in a useful and accessible format to help you design a powerful data-driven pricing strategy.
Designed by and for Pricing Analysts
Greenscreens Ignite was designed to offer pricing analysts easy access to the information they need to design a successful data-driven pricing strategy. It includes win/loss quote analysis, up-to-the-minute margin information, and a high-level view of your pricing activity.
Ignite puts detailed, real-time analytics right up front, so you can answer questions like:
"What's my win rate percentage?”
“How much money am I making on one load?”
“How am I performing versus the market?”
“How are my pricing rules impacting my win rates and margins?”
Analytics Based on Your Quote Data + Market Information
Ignite requires quote data. It draws information from quotes sent through Greenscreens or quotes uploaded to Greenscreens.
The more data Ignite has, the more it can tell you about the success of your pricing strategy.
You can also find out more by contacting your Customer Success Manager.
High Level Performance Indicators
Ignite starts with high-level performance indicators like your win rate and margin. When you can quickly and reliably see where you’re winning and where the opportunities are, you can take action and adjust your pricing strategy accordingly.
The high-level view provides a quick snapshot of the big picture to support fast, effective decision-making from you and your pricing analysts.
Quote Analytics
The Quote Analytics tab tracks your quoting success. This is your high-level view of your quoting stats, including win rate, margin, and location:
Map View
The Map View shows you which parts of the country are really lighting up for you, and where you might want to expand. It might also show that you’re getting a good deal of freight from a particular customer when a state shows unusually high numbers:
Win Rate and Margin
Comparing your win rate with your estimated margin can tell you if you’re pricing loads high or low.
Greenscreens can’t read your actual margins, but our model’s estimates come extremely close. Leaning one way or the other may be part of your pricing strategy, but we find that keeping the two numbers as close as possible is the most effective way to maximize revenue.
In the image here, the demo brokerage would clearly be pricing loads way too low:
Sorting and Filtering
Your high-level data is filterable, so that you can get a little more specific with it and find where you need to drill down. Maybe your rates are winning for vans, but not so much for flatbed, or maybe your pricing is working better in some markets than others.
Rule Analytics
You can also get a good idea of how well your pricing rules are working on the Rule Analytics tab. This tab includes extensive and detailed analytics on your rules and allows you to adjust them quickly when you see a shift in the market.
The Rule Analytics tab also includes indicators of your win rate and margin compared to the market, so you can see how your pricing stacks up against the competition.
Pricing Rules
Greenscreens’ automated Pricing Rules can save you time and help your brokers maintain consistent rates. Using pricing rules also provides you with data that can inform future pricing decisions.
When you see that a rule is working, you know that the strategic decision behind that rule is effective. Pricing Rules also allow you to make fast changes when something isn’t working and apply those changes automatically to relevant loads:
Market Information
The Rule Analytics tab provides information on the win rate and margin in the overall market, charted for a quick overview.
Close-Up Detail
Quote Analytics
Pricing analysts like to think about strategy across a number of different cuts. Some like to price based on particular shipper, and others like to go by area, mileage, or transport type.
The Quotes Breakdown slices up your data in several different ways to support multiple analysis options.
Tabs
The Highlights tab shows you the highest numbers across the board. The other tabs show your data across transport types:
Sorting
You can sort the data by different columns for exactly the view you need:
Associated Pricing Rules
The Quotes Breakdown is cross-referenced with your Pricing Rules. Clicking a quote will let you view and edit associated rules, or add a new rule:
Rules Breakdown
The Rules Breakdown is similar to the Quotes Breakdown, except that it lists your quotes by pricing rule. Like the Quotes Breakdown, it can be sorted and filtered in a number of ways. The Rules Breakdown lets you see which Pricing Rules are influencing (or fewest) quotes and the win rates and margins for quotes using each rule.
You’ll be able to see quickly which rules are working best for you. This is another advantage of using Pricing Rules – you can see exactly what pricing guidelines work for your brokerage.
Sending Data
Ignite requires quote data.
If you send quotes through Greenscreens, the data is already in the system, and you’re good to go, so long as you keep your quote statuses updated.
You can also auto-send your quote data every hour or every day to Greenscreens as a .csv, just as with historical rate data. Just remember to use a different file name for your load and quote data. You can also upload RFPs. For details, contact Greenscreens Support.