Understanding the Path-to-Purchase Journey in Commercial Truck Leasing

Challenge

A transportation services company approached us to gain insights into the path-to-purchase journey (P2P), focusing specifically on their commercial leasing (in-sourcing) services. To better grasp this process, the company sought to understand the various steps potential buyers take from recognizing a need to soliciting bids for such services.

Solution

We conducted interviews with over a dozen decision-makers responsible for leasing medium to heavy-duty vehicles. Only companies classified as shippers were included; transporters such as trucking companies, 3PLs, and other freight companies were excluded. All respondents had to have conducted a transportation evaluation, received a bid from a full-service leasing company within the past six months, and evaluated different solutions from one or more suppliers, requiring research and information gathering to make an informed decision.

The research process was structured as follows:

1. Initial Interview: Qualified respondents and discussed the decision journey, triggers, Decision Making Unit (DMU), and sources of information.
2. Independent Homework: Respondents filled in the details of their journey, providing as much information as possible.
3. Final Interview: Reviewed the homework and conducted an in-depth assessment of the overall process.

Insight

We created a comprehensive map for our client, outlining the triggers and steps involved in submitting an RFP for a new truck to lease or buy. This map helped our client identify the right targets, craft effective messages, and engage with prospective buyers early in the buying process to influence their decisions. Additionally, our insights challenged the conventional belief that the proposal is the final step in the RFP process. Our research showed that the proposal is an ongoing part of the process, often going through multiple iterations during the information-gathering stage.