The first cup of coffee I can remember drinking was with my grandad at the Farmers Co-op in Laverne, Oklahoma. Every Wednesday for the past few decades, he’s brought the donuts and gossiped with the other farmers and ranchers. I’m pretty sure that’s where he gets most of his agricultural production information. When I moved to Michigan last year, I knew the climate, the soils and the production would be unlike what I’d known, but I also knew that one characteristic would remain consistent.
Targeting segments of buyers has always been the focus of marketing efforts, regardless of product or industry. But customers don't buy as segments.
There are disconnects between marketing and sales. Organizations today need to invest in marketing the same way they once invested in sales.
A larger and larger share of all input purchases are made by fewer and fewer farmers, making each one increasingly important to input suppliers.
For better or worse, marketing and sales efforts affect not only the profitability of a firm but also the firm’s liquidity, or its ability to meet short-term financial obligations.
In the past, we took the characteristics that made salespeople (or ourselves) successful over the last 20 years and looked for those traits in potential hires. What do we do when the world is more complex?
We all know that buying and selling agricultural inputs is more than just receiving or offering a lower price. But can we be more specific?
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.