We hear this story repeated time and again. A farmer signs on for our marketing consulting, yet maintains subscriptions to other marketing services in order to have conflicting opinions. We make marketing recommendations based on research, experience and our connection to the field. The farmer who has "other opinions" speaking into his ear may choose not to follow our recommendation and the opportunity passes by. No action is taken due to indecision and the farmer is no closer to protecting risk. So what just happened here?
I'd call it a case of analysis paralysis. Today we can access, store and analyze more data than ever before, making the decision process complex and downright exhausting. We become obsessed with acquiring more and more information, with the belief that having more of it will solve our challenges. But does it?
It's up to you to collect the right data. Being able to cut through the clutter and transform data into usable information can increase business performance. To do this it's important to start with the end in mind.
What is it you want from a marketing service or a pile of newsletters about market fundamentals? Let's just say that you want to be able to protect yourself financially and market your grain or livestock in a successful way. Each time you spend time or resources to fine tune your marketing plan, think about how this information is moving you closer to your final goal.
Once you have the data you need, it's time to move from insight to action. Hovering in insight mode and avoiding the plunge into action is a sure sign that you're in analysis paralysis. Have you collected too many conflicting opinions? You may not understand the marketing tools that are available. Information without understanding can be paralyzing.
Ultimately, it all comes down to a question of time and trust. If you have the time, expertise and the interest then get engaged and do the work of understanding and personalizing the markets. Make your decisions and execute them. If you need the help of a marketing firm, then spend your time in the hiring process. Understand the people involved and their motives. Visit their office. Have them visit your farm. Make sure they understand your goals, objectives and dreams. Build trust.
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