In the 2017 Large Commercial Producer Project, Purdue University asked farmers to rank product performance, price, and supplier relationship when purchasing crop inputs. The result: Most farmers have clear favorites.
Yield and price risk take center stage in most discussions surrounding risk in agriculture. While these are obviously important aspects of risk to any farm business, the risks faced by agricultural producers are much broader than prices received for products sold and the risks associated with physical production of outputs.
Marketers today don’t have the relatively simple tasks of informing, persuading, or reminding. Salespeople don’t have the relatively simple task of convincing someone to buy from them. For both of these functions, the challenges today aren’t about outgoing messages at all.
Understanding the economic challenges producers face and the confidence they have in the agricultural economy plays a huge role in the ways suppliers interact with farmer clients and bring value to them.