In terms of the technology available, there has never been a better time to be a producer. Precision ag tools and platforms have given us the ability to monitor our fields down to the square inch, and it all culminates in pile of incredibly useful data.
It’s what you actually do with that data that truly matters. Your personal data is just that: personal. Leveraging it the right way for your specific business can make all the difference when it comes to your farm wealth — especially when it comes to the sales recommendations you receive.
Here’s how GrainFox personalized sales recommendations are different from any other.
No two farms are alike
It may sound obvious, but no two farming operations are alike. At surface level, that might sound like we’re talking about the crops you grow or the acres you farm, but it goes much deeper.
Your needs and goals are what make your operation completely unique, especially when it comes to how the two intersect. You have cash flow needs, cash flow goals, your overall risk tolerance, and your legacy to consider — just to name a few.
What does this mean for the agtech tools you use? It means they should take all of the above into account. A tool that understands ¬your business, like GrainFox, is better positioned to help you achieve your goals through informed decision making.
What does “personalized” mean to you?
Many platforms and service providers claim to provide “personalized sales recommendations,” but it turns out that “personalized” can take on different meanings depending on the context.
Generally, any company — aside from GrainFox — that offers personalized sales recommendations does so via a grain marketing advisor or someone similar. This advisor looks at your farm data, looks at the current markets, and provides sales recommendations to you based on the crops you have to market, getting the best price, and they may even consider your cash flow needs and what’s currently sitting in your bins.
These recommendations are provided by a real person, who may or may not have a stake in your sales, and they’ll usually rely on their experience, as well as any “gut feelings” they may get as a result. While a market expert is generally viewed as a reliable source of recommendations, there are just some things people can’t do:
- Remove the emotional bias from selling
- Compare your farm details against decades of current and historical market data
- Account for your unique farm details and how they interact with each other
What “personalization” means on GrainFox
While there is a GrainFox plan that offers personalized consultations with a Customer Success Manager, we implement personalized services at the data level. The personalized sales recommendations you receive in GrainFox Smart Advisor are created using machine learning and AI, which combines your farm details with copious amounts of current and historical market data to deliver a recommendation.
Smart Advisor doesn’t just take into account the crop you’re selling and the price. Here’s what goes into the recommendations you receive:
Your crop mix
Smart Advisor looks at your entire crop portfolio (based on the information you enter into Farm Profile) and how the sale of each crop could interact with the others. That means that Smart Advisor considers price predictions for each crop, along with historical data, to help you make the best selling decisions possible.
Your cash flow goals
The more you personalize your GrainFox account, the better Smart Advisor can pinpoint sales recommendations. The cash flow goals you create in Cash Flow Planner are another major piece of the puzzle, acting as a guidepost for when and how much Smart Advisor suggests you sell. Combined with your crop mix, your cash flow goals/needs help Smart Advisor form a clearer picture of how every sale could help you reach your goals.
Your storage constraints
You can’t hold onto grain if your bins are overflowing, which makes your storage constraints a very important part of how Smart Advisor determines when you should sell and how much. Tracking your inventory in Farm Profile in GrainFox automatically informs Smart Advisor, which adjusts your personalized sales recommendations accordingly.
Your risk tolerance
The final piece of the puzzle is your risk tolerance, which GrainFox ascertains through Risk Profile. This questionnaire helps determine the level of risk you’re comfortable with, which will in turn provide Smart Advisor with another layer of personalization. Are you comfortable with holding out for better prices? Do you prefer to strike while the iron is hot? Risk Profile will provide a clear answer, and the personalized sales recommendations you receive will be tailored to your tolerance.
The data-driven difference
Taking the emotion out of selling your crops is integral as you continue to navigate the increasingly complex ag industry. With so many factors out play, including markets outside of ag, having the right tools and the right time makes all the difference when building a clearer path from bin to bank.
Real human analysts and advisors can provide reliable benchmarks and generalized recommendations, but in order to get to the core of your long-term farm wealth goals, nothing comes to close to the deep personalization that technology can provide.
Want to give it a try?
Try GrainFox and all the available tools and publications for FREE for a full month. Just click the button below to sign up! You can also book a free live demo to learn more about GrainFox Farm Wealth Solutions and how they can help you achieve your business goals and fortify your legacy.