According to Network, the funding provider to fleet brokers, the
industry is beginning to shift. A market that was built on a
heavily oriented sales culture is maturing, with the first signs of
a retention culture emerging among the most forward thinking
brokers.
The broker model has traditionally been based on bringing in new
business, based on highly competitive prices. This meant many of
the most successful intermediaries achieved market prominence
despite a relatively short term mind-set. It also led to an
industry which became renowned for low levels of customer service
and high levels of customer churn.
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However, there are signs that the market is now entering a new
phase, with long-term thinking now the norm for some of the
foremost brokers in the industry.
Jo Elms, brand director of Network, comments: “We’ve witnessed a
change of tone from many of our top brokers. There are major
players in the industry that are turning their eye away from piling
on masses of new business, focusing instead on retaining
contracts.
“That means a number of brokers are taking issues like service
levels, staff training, accreditation and relationship-building
much more seriously.
“That isn’t to say that a revolution is imminent. There are
still too many out there that operate with a boom-and-bust
mentality. The classic ‘bedroom broker’ still exists and there are
still major challenges ahead, but there are pockets of the
marketplace where the tide is beginning to turn.
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By GlobalData“The next step is ensuring that the example being set by the
most modern brokers is followed by the rest of the industry. We
deal with brokers every day that adopt an incredibly professional
approach to their market – the challenge now is to encourage others
to take that view.”
